HomeMy WebLinkAbout00-182.docMAY 9, 2000 00-182 RESOLUTION
(CARRIED
LOST LAID OVER WITHDRAWN )
PURPOSE:
DETERMINATION OF NECESSITY; ESTABLISH FAIR MARKET
VALUE; AUTHORIZE PURCHASE; APPROVE FUND TRANSFER;
APPROVE REIMBURSEMENT/234 N. CAMPBELL ROAD
INITIATED BY: DEPARTMENT OF COMMUNITY DEVELOPMENT
WHEREAS, the Common Council previously approved the Excelsior-Badger
Redevelopment Project Area, as amended, and specifically Modification #2 which
incorporated the property at 234 N. Campbell Road and a portion of 212 N. Campbell
Road within the boundaries of said redevelopment area; and
WHEREAS, it is in the best interests of the citizens of the City of Oshkosh to
acquire certain land to provide needed additional space for activities for older citizens of
the community offered through the Oshkosh Seniors Center; and
WHEREAS, a review appraisal has been made on the property to be acquired,
which is described below:
234 N. Campbell Road; Sawyer Creek Inc., owner
Being a part of the NW ¼, Section 23, 6th Ward, City of Oshkosh, Winnebago
County, Wisconsin, described as: Commencing at the NW corner of Fractional
Lot 2, thence S 89-39-05 E along the N line of Frc. Lot 2 5.97 ft. to the Ely line of
Campbell Rd.; thence S 33-47-48 E along the Ely line of Campbell Rd. 149.58 ft.
to the point of beginning; thence continuing S 33-47-48 E along the Ely line of
Campbell Rd. 450 ft.; thence N 56-12-12 E at right angle to Campbell Rd. 250 ft.;
thence N 33-47-48 W parallel to the Ely line of Campbell Rd. 450 ft.; thence S
56-12-12 W at right angle to Campbell Rd. 250 ft. to the point of beginning. (Tax
ID #906-0804-0100)
and
WHEREAS, the property and interest to be acquired includes land and building, if
any, exclusive of equipment and fixtures both movable and immovable; and
MAY 9, 2000 00-182 RESOLUTION
CONT'D
WHEREAS, expenditures relating to this project will be paid on or after the
passage of this resolution and the City reasonably expects to reimburse itself for these
expenditures through community pledges/donations, a donation from the Friends of the
Oshkosh Seniors Center, and borrowing from the State Land Trust Fund; and
WHEREAS, it is necessary to transfer funds from General Fund Equity to finance
the purchase until such time that the pledges, donations, and State loan funds are
received.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
Oshkosh that the Common Council certifies that in order for said purpose to be
accomplished, it is necessary to acquire the property described above. It is further
determined by the Common Council that acquisition of said property is hereby
determined necessary pursuant to the provisions of Section 32.07, Section 66.43 and
Section 66.46, of the Wisconsin Statutes.
BE IT FURTHER RESOLVED that the fair market value of the property at 234 N.
Campbell Road, described above, is hereby established at FIVE HUNDRED SIXTY
THOUSAND AND NO/100 DOLLARS ($560,000.00).
BE IT FURTHER RESOLVED that this Resolution is a declaration of official
intent under Treasury Regulation Section 1.103-18, or amendment thereto, and shall be
made available for public inspection pursuant to Chapter 19, of the Wisconsin Statutes.
The maximum principal amount of the obligation expected to be issued for this
project is FIVE HUNDRED THOUSAND AND NO/100 DOLLARS ($500,000.00), which
includes, but is not limited to, the sale price and applicable closing costs.
BE IT FURTHER RESOLVED that the proper City officials are authorized and
direct to transfer the sum of Five Hundred Thousand and NO/100 ($500,000.00) from:
Acct. No. 100-0071-3460-00000 -- General Fund Equity to Acct. No. 307-0760-7214-
00000 Senior Center Purchase/234 N. Campbell Road.
BE IT FURTHER RESOLVED that the proper City officials are authorized and
directed to purchase said property and execute all documents necessary to
consummate this transaction. Money for this purpose is appropriated from:
Acct. No. 307-0760-7214-00000 Senior Center Purchase/234 N. Campbell Road
Acct. No. 707-0071-7214-00000 Senior Center Trust Fund.