HomeMy WebLinkAbout01-23.docJANUARY 9, 2001 01-23 RESOLUTION
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PURPOSE:
APPROVE TAX INCREMENTAL DISTRICT NO. 15 PROJECT
PLAN; DESIGNATE TAX INCREMENTAL DISTRICT NO. 15
BOUNDARIES; CREATE TAX INCREMENTAL DISTRICT NO. 15
INITIATED BY: CITY ADMINISTRATION
PLAN COMMISSION RECOMMENDATION: Approved
WHEREAS, pursuant to Section 66.46, Wis. Stats., the City of Oshkosh proposes to
create Tax Incremental District No. 15 - Park Plaza/Commerce Street Redevelopment; and
WHEREAS, the City of Oshkosh Plan Commission has prepared and adopted a
project plan for Tax Incremental District No. 15 - Park Plaza/Commerce Redevelopment
which:
1)
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3)
4)
5)
6)
7)
8)
9)
10)
Includes a statement listing the kind, number and location of all proposed
public works or improvements within such District.
Contains an economic feasibility study.
Contains 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.
Includes a map showing existing uses and conditions of real property in such
District.
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. 15 promotes the orderly development
of the City.
Contains an opinion of the City Attorney that the Plan complies with Section
66.46(4)(f), Wis. Stats.
and
JANUARY 9, 2001
01-23 RESOLUTION
CONTD
WHEREAS, the Plan Commission has held a public hearing on the creation of TID
No. 15 and the proposed boundaries thereof 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 which includes property within the
District pursuant to Section 66.46, Wis. Stats.; and
WHEREAS, the City of Oshkosh Plan Commission affirms the following per the TID
#15 Project Plan:
1 ) More than 50 percent of the real property within the TID is blighted, in need
of rehabilitation, or conservation within the meaning of Section 66.435 (2m)(b), Wis.
Stats.
2) Redevelopment within the TID resulting in the construction of approximately
63,000 square feet of custom designed Class A office space will have a significant
positive impact on the value of all real property in the District and assist in
stabilizing property values of the Park Plaza and central business district.
3) Implementation of this Project Plan is consistent with the City's 1993
Comprehensive Plan and its associated amendments and additions.
4) Project costs associated with implementing this project plan are consistent
with the purpose for which the District was created.
5) The equalized value of taxable property of the district plus all existing
districts does not exceed 7% of the total equalized value of taxable property within
the city.
NOW, THEREFORE, BE IT RESOLVED that the Common Council of the City of
Oshkosh approves said Project Plan for Tax Incremental District No. 15 - Park
Plaza/Commerce Street Redevelopment, pursuant to the provisions of Section 66.46, Wis.
Stats.
BE IT FURTHER RESOLVED that the Common Council of the City of Oshkosh
hereby designates the boundaries of TID No. 15 as described in "Exhibit A".
BE IT FURTHER RESOLVED that the Common Council of the City of Oshkosh
hereby approves creation of Tax Incremental Financing District No. 15 - Park
Plaza/Commerce Street Redevelopment.
BE IT FURTHER RESOLVED that the improvements contemplated in TID No. 15-
Park Plaza/Commerce Street Redevelopment, are likely to significantly enhance the value
of substantially all real property in TID No. 15.
JANUARY 9, 2001
01-23 RESOLUTION
CONT'D
BE IT FURTHER RESOLVED that the value of equalized, taxable property in TID
No. 15, together with all other established Tax Incremental 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 TID
#15 is blighted and in need of rehabilitation or conservation within the meaning of Section
66.435(3), Wis. Stats.
BE IT FURTHER RESOLVED that the project costs are consistent with the purposes
for which the Tax Incremental District is created with the primary objective being the
redevelopment of a blighted area.
"EXHIBIT A"
PROPOSED TAX INCREMENTAL DISTRICT #15
Legal Description:
The proposed boundaries of Tax Increment District No. 15 are described as follows:
A part of White Wright & Jenkins Subdivision, Leach's Map, Block 6, and vacated
Marion Road all in the First Ward, City of Oshkosh, Winnebago County, Wisconsin
described as follows:
Commencing at the intersection of the southwesterly line of Pearl Avenue with the
westerly line of Commerce Street; thence S 00-24-46 W 60.83 ft. along the westerly
line of Commerce Street to the point of beginning; thence continuing S 00-24-46 W
301.47 ft. along said line; thence S 89-35-00 W 188.28 ft.; thence N 00-25-00 E 301.47
ft.; thence S 89-35-00 E 188.26 ft. to the point of beginning. Subject to all easements
and restrictions of record (1.303 acres of land).