HomeMy WebLinkAbout00-264.docJUNE 27, 2000 00-264 RESOLUTION
(CARRIED 7-0
AS AMENDED
LOST LAID OVER WITHDRAWN
PURPOSE:
APPROVE AMENDMENT NO. 1, CITY OF OSHKOSH TID #13 -
MARION ROAD/PEARL AVENUE REDEVELOPMENT AREA
INITIATED BY: CITY ADMINISTRATION
PLAN COMMISSION RECOMMENDATION: Approved
WHEREAS, the City of Oshkosh previously created Tax Incremental Financing
District #13 - Marion Road/Pearl Avenue Redevelopment Area and adopted the Project
Plan, as amended, to Tax Incremental Financing District #13 - Marion Road/Pearl
Avenue Redevelopment Area; and
WHEREAS, Section 66.46, Wis. Stats., provides that the City Plan Commission
may at any time, by resolution, adopt an amendment to a tax incremental financing
district project plan, which amendment shall be subject to approval by the local
legislative body; and
WHEREAS, on June 20, 2000 the City of Oshkosh Plan Commission held a
public hearing on proposed Amendment No. 1 to the Tax Incremental Financing District
#13 - Marion Road/Pearl Avenue Redevelopment Area; and
WHEREAS, such public hearing was properly noticed in the City's official
newspaper, and a copy of such notification was properly transmitted to all entities
having the power to levy taxes on property in the District; and
WHEREAS, such public hearing afford all interested parties an opportunity to
express their opinions on proposed Amendment No. 1 to Tax Incremental Financing
District #13; and
WHEREAS, after due consideration, the Plan Commission approved Amendment
No. 1 to the Tax Incremental Financing District #13 Marion Road/Pearl Avenue
Redevelopment Area, and
WHEREAS, the Plan Commission affirmed the following findings of Tax
Incremental Financing District #13:
JUNE 27, 2000
00-264 RESOLUTION
CONT'D
More than 50 percent of the real property within the TID is blighted within
the meaning of Section 66.46(2)(a), Wis. Stats.
2)
Not less than 50 percent of the structures within the TID are in need of
rehabilitation within the meaning of Section 66.435(2m)(b), Wis. Stats..
3)
Based on the present and historical land uses in the general area,
environmental contamination exists, or is perceived to exist, to an extent
that the Project Plan will not be able to proceed without Tax Incremental
Financing and the "donation" of positive tax increments between Tax
Incremental Financing Districts.
4)
The redevelopment of the area calling for the construction of new multiple
family housing and commercial developments together with the elimination
of brownfield properties will have a significant positive impact on the value
of all real property in the District and is in keeping with the goals and
objectives of the Comprehensive Plan.
5)
The primary objective for amending the TID #13 Project Plan and
incorporation of additional territory to the District is to eliminate blight and
blighting influences that may negatively effect planned redevelopment
within the existing TID as well as the elimination of blighting influences
and the reuse of properties to their highest and best use in an
environmentally sensitive area within the central city. The project costs
identified are consistent with the purpose for which the tax increment
district was created.
6)
Were it not for the financing mechanisms provided through the Tax
Incremental Financing statutes, planned redevelopment of this district
would in all likelihood not occur.
7)
The equalized value of taxable property in TID #13 plus all existing
Districts does not exceed 7% of the total equalized value of taxable
property within the City, or the equalized value of taxable property of the
district plus the value increment of all existing districts within the City does
not exceed 5% of the total equalized value of taxable property in the City.
and
JUNE 27, 2000
00-264 RESOLUTION
CONT'D
WHEREAS, the allocation of positive tax increments for continued
redevelopment is consistent with the purpose for which the District was created.
NOW THEREFORE BE IT RESOLVED by the Common Council of the City of
Oshkosh that Amendment No. 1 to Tax Incremental Financing District #13 - Marion
Road/Pearl Avenue Redevelopment Area is feasible and in conformity with the City of
Oshkosh master plan.
BE IT FURTHER RESOLVED by the Common Council of the City of Oshkosh
that Amendment No. 1 to Tax Incremental Financing District #13 - Marion Road/Pearl
Avenue Redevelopment Area is hereby adopted.
BE IT FURTHER RESOLVED by the Common Council of the City of Oshkosh
that this resolution be forward to the Tax Incremental Financing District #13 - Marion
Road/Pearl Avenue Joint Review Board for their consideration.
**AMENDMENTS: Amend the TID #13 Expansion area by eliminating the l_amico
property from the District.
Amend the TID #~3 Expansion area by eliminating properties
on the east side of Jackson Street from the District.