HomeMy WebLinkAbout01-56.docJANUARY 23, 2001 01-56 RESOLUTION
(CARRIED 4-2
LOST LAID OVER WITHDRAWN .)
PURPOSE:
ESTABLISH FAIR MARKET VALUE; AUTHORIZE PURCHASE;
APPROVE FUND TRANSFER; APPROVE REIMBURSEMENT/
201 CEAPE AVENUE
INITIATED BY: DEPARTMENT OF COMMUNITY DEVELOPMENT
WHEREAS, the Common Council of the City of Oshkosh has previously
determined the necessity of acquiring property within the Oshkosh Centre
Redevelopment Project Area, as amended, for the proposed expansion of the
Convention Centre and Riverside Park; and
WHEREAS, a review appraisal has been made on the property to be acquired,
which is described below:
201 CEAPE AVENUE; Dan Dowling, owner
The N 260-ft. of Lot 9 and all of Lot 10, Block 16, LM Miller's 1st Add. as per Leach's
Map; also the N 260 ft. of Lots 1 thru 6, Block 17, LM Millers 1st Add., 8th Ward, City of
Oshkosh, Winnebago County, Wisconsin. (Tax ID 908-0017-0000)
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
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 from a proposed State Land Trust loan; and
WHEREAS, it is necessary to transfer funds from General Fund Equity to finance
the purchase until such time as the State Land Trust loan is received.
JANUARY 23, 2001
00-56 RESOLUTION
CONT'D
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 the 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 201
CEAPE AVENUE, is hereby established at FIVE HUNDRED EIGHTY-FIVE
THOUSAND AND NO/100 DOLLARS ($585,000.00).
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 SIX HUNDRED SEVENTY-FIVE THOUSAND AND NO/100 DOLLARS
($675,000.00), which includes, but is not limited to, the sale price, applicable closing
costs and demolition costs.
BE IT FURTHER RESOLVED that the proper City officials are authorized and
direct to transfer the sum of Six Hundred Seventy-Five Thousand and NO/100 Dollars
($675,000.00) from Account No. 100-0071-3460-00000 General Fund Equity to Account
No. 515-1040-1702-95205 Center City/Hooper Building.
BE IT FURTHER RESOLVED that the proper City officials are authorized and
directed to purchase said properties and execute all documents necessary to
consummate these transactions. Money for this purpose is appropriated from:
Account No. 515-1040-1702-95205 Center City/Hooper Building.