Loading...
HomeMy WebLinkAbout03-111.docAPRIL 22, 2003 03-111 RESOLUTION (CARRIED 5-0 LOST LAID OVER WITHDRAWN ) PURPOSE: APPROVE PROJECT PLAN AMENDMENT NO. 2 TAX INCREMENT DISTRICT NO. 13 MARION ROAD/PEARL AVENUE REDEVELOPMENT INITIATED BY: CITY ADMINISTRATION PLAN COMMISSION RECOMMENDATION: Approved WHEREAS, additional projects are proposed to be undertaken to improve Tax Increment District No. 13; and WHEREAS, these projects were not originally included in the adopted Project Plan for Tax Increment District No. 13; and WHEREAS, pursuant to §66.1105, Wis. Stats., the City of Oshkosh proposes Amendment No. 2 to the Project Plan of Tax Increment District No. 13 Marion Road/Pearl Avenue Redevelopment; and WHEREAS, the City of Oshkosh Plan Commission has prepared and adopted a Project Plan for Tax Increment District No. 13 Marion Road/Pearl Avenue Redevelopment which: 2) 3) 4) Includes works or Contains Contains a statement listing the kind, number and location of all proposed public improvements within such district. an economic feasibility study. a detailed list of estimated project costs. Contains a description of the methods of financing all estimated project costs and the time when such costs or monetary obligations related thereto are to be incurred. 5) Includes district. 6) 7) 8) 9) a map showing existing uses and conditions of real property in such Includes a map showing proposed improvements and uses therein. Contains a list of estimated non-project costs. Contains a statement of a proposed method for the relocation of any person to be displaced. Indicates how the creation of TID No. 13 promotes the orderly development of the City. and APRIL 22, 2003 03-111 RESOLUTION CONT'D WHEREAS, the Plan Commission has held a public hearing on Amendment No. 2 to TID No. 13 and has notified the Chief Executive Officers of all local government entities having the power to levy taxes on property within the district, including the School Board of any school district that includes property within the district pursuant to §66.1105, Wis. Stats.; and WHEREAS, the City of Oshkosh Plan Commission has found that said Project Plan is in conformity with the Master Plan of the City of Oshkosh. NOW, THEREFORE, BE IT RESOLVED that the Common Council of the City of Oshkosh hereby approves of said Amendment No. 2 to the Project Plan for Tax Increment District No. 13 Marion Road/Pearl Avenue Redevelopment, pursuant to the provisions of §66.1105, Wis. Stats. BE IT FURTHER RESOLVED that the improvements contemplated in amended TID No. 13 are likely to significantly enhance the value of substantially all real property within amended TID No. 13. BE IT FURTHER RESOLVED that the value of equalized taxable property in amended TID No. 13, together with all other established Tax Increment Districts, does not exceed 7% of the total equalized value of taxable property within the City of Oshkosh. BE IT FURTHER RESOLVED that more than 50% of the real property within amended TID No. 13 is blighted or in need of rehabilitation or conservation within the meaning of § 66.1337, Wis. Stats.. BE IT FURTHER RESOLVED that the project costs are consistent with the purposes for which the district is being created with the primary objective being rehabilitation of this area and blight elimination. BE IT FURTHER RESOLVED that if the property owner was required to fully pay for the improvements associated with the proposed rehabilitation and redevelopment of the area, the redevelopment would in all likelihood not occur. BE IT FURTHER RESOLVED by the Common Council of the City of Oshkosh that this resolution be forwarded to the Joint Review Board for their consideration of amended Project Plan of TID No. 13 - Marion Road/Pearl Avenue Redevelopment. Plan Summary City of Oshkosh Tax Increment District # 13 Project Plan District.Name: City of Oshkosh Tax Increment District # 13 Marion Road,rPearl Avenue Redevelopment Location: Central City of Oshkosh; North of the Fox River, south of Pearl Avenue, west of Jackson Street, and east .of Wisconsin Street. Size: Approximately 35 acres Purpose: : Redevelopment of a blighted industrial area. The amendment will allow the provision of grants to the Oshkosh Redevelopment Authority to can'y out project activities. Proposed Costs: Approximately $4.3 million for costs related to infrastxucture improvements including: sanitary sewer, water, utility relocation, streets and sidepaths, storm sewer and drainage. Costs also include financing and administrative/organizational costs. Project Financing: Project costs will be financed using a combination of General . Obligation notes or loans from the State Land Trust Fund Program. Economic Feasibility: Economic feasibility is based on redevelopment of a number of blighted and underutilized properties within the district with a change of use from industrially oriented to commercial and residential uses.