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Redevelopment T eam
❖ Owners: 7-Share LLC
Brett Hildebrandt & Molly Urban
•:• Developer- YBR Properties z
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Architect: Wesen berg Architects
❖ Contractor: CR Structures
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ANALYTICS
Miles Kimball Redevelopment—25 Aug 2020
Brief History of Site
• Aug 97 & Oct 05 — RDA acquires land
• Mar 08 — Council Approves Dev Agrmt terms WBTH AVE EBTHAVE
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• Aug 11 — MK-2 LLC acquires site from RDA WMAVE E9TH AVE
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• Jan 18 — Bridgeview Holding acquires site
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I._.,ldd.e Kimbell Block Phases I&II Site Plans
• Jul 20 — Purchase agreement executed Excerpt taken from Oshkosh Common Council resolution
08-81 passed 11-Mar-08.
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Miles Kimball Redevelopment—25 Aug 2020
WESENBERG
Proposed Usage ARCHITECTS
8TH STREET
• 26 — 28 Apartment Units yr
• 45 + 2 HC Surface Parking Stalls 45 STALLS
(+2 HC) -►
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9TH STREET
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Miles Kimball Redevelopment—25 Aug 2020
Preliminary Financials
• $3.9 million Investment
• Likely to generate $2.9 million in incremental value
• Initial Estimate of 6.2% 10-year Internal Rate of Return
with 20-year pay-go TI F
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Miles Kimball Redevelopment—25 Aug 2020
Why TIF Assistance
• Building has sat empty for 15+ years
• Other incentives not available or practicable
Not in Opportunity Zone
• Not in NMTC eligible
Historic possible but then no windows
• No WEDC for purely residential
Bring people before commercial / entertainment
• Further Sawdust District goals
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ANALYTICS
Miles Kimball Redevelopment—25 Aug 2020
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INVISTA
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