HomeMy WebLinkAbout00-266.docJUNE 27, 2000 00-266 RESOLUTION
(CARRIED 7-0 LOST
LAID OVER WITHDRAWN .)
PURPOSE:
ACCEPT PROPOSALS/PARCELS A AND D - MARION
ROAD/PEARL AVENUE REDEVELOPMENT AREA
INITIATED BY: CITY ADMINISTRATION
WHEREAS, the Oshkosh Common Council has designated boundaries for the
Marion Road/Pearl Avenue Redevelopment Area, as amended, and approved the
Redevelopment Plan, as amended, for said area; and
WHEREAS, the City solicited proposals for the redevelopment of parcels within said
Redevelopment Area, per the attached "Map 1"; and
WHEREAS, the most advantageous proposal received that meets redevelopment
objectives for Parcel A within the approved Redevelopment Area was received from
Saalsaa Brothers Inc. in the amount of $2.30 a square foot for the development of two
commercial buildings on the site, with one building being approximately 6,148 sq. ft. in size
and the second building being approximately 3,840 sq. ft. in size, per the attached "Exhibit
A"; and
WHEREAS, the estimated value of improvements that would occur on Parcel A as a
result of the proposed development is approximately $743,114; and
WHEREAS, Saalsaa Brothers Inc. has agreed to undertake the proposed
development in accordance with the Marion Road/Pearl Avenue Redevelopment Project
Area Guidelines, dated February, 2000 [a copy of which is on file in the Department of
Community Development]; and
WHEREAS, the most advantageous proposal received that meets redevelopment
objectives for Parcel D within the approved Redevelopment Area was received from D & F
Investments LLP in the amount of $0.75 a square foot for a multiple family housing
development to be completed in phases; and
WHEREAS, the proposal from D & F Investments calls for a Phase One
development of three 8-unit apartment buildings and two 10-unit apartment buildings, per
the attached "Exhibit B", with construction to begin in the Fall of 2000 with completion in
2001; and
JUNE 27, 2000
00-266 RESOLUTION
CONT'D
WHEREAS, the estimated value of improvements that would occur on Parcel D as a
result of the proposed Phase One development is approximately $3,095,000; and
WHEREAS, D & F Investments is committing to undertake a multiple family housing
development as part of Phase Two and to work with the City in the determination of the
most appropriate multiple family use for the property; and
WHEREAS, D & F Investments is proposing to begin construction of the Phase Two
development in 2002 and to complete construction in 2003; and
WHEREAS, the estimated value of improvements that would occur on Parcel D as a
result of the Phase Two development is approximately $1,200,000; and
WHEREAS, D & F Investments has agreed to undertake the proposed development
in accordance with the Marion Road/Pearl Avenue Redevelopment Project Area
Guidelines, dated February, 2000 [a copy of which is on file in the Department of
Community Development].
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
Oshkosh that the proposal from Saalsaa Brothers Inc. for Parcel A within the Marion
Road/Pearl Avenue Redevelopment Project Area, per the attached map and exhibit, is
hereby accepted.
BE IT FURTHER RESOLVED that the proposal from D & F Investments LLP for
Parcel D within the Marion Road/Pearl Avenue Redevelopment Project Area, per the
attached map and exhibit, is hereby accepted.
BE IT FURTHER RESOLVED that the proper City officials are hereby authorized
and directed to enter into appropriate Developer Agreements with Saalsaa Brothers Inc.
and D & F Investments LLP, and any and all documents necessary for purposes of same,
and said City officials are authorized and directed to take those steps necessary to
implement the terms and conditions of same.