HomeMy WebLinkAbout01-233.docMAY 22, 2001 01-233 RESOLUTION
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LOST LAID OVER WITHDRAWN
PURPOSE:
APPROVE TAX INCREMENTAL DISTRICT NO. 16 PROJECT
PLAN; DESIGNATE TAX INCREMENTAL DISTRICT NO. 16
BOUNDARIES; CREATE TAX INCREMENTAL DISTRICT NO. 16
INITIATED BY: CITY ADMINISTRATION
PLAN COMMISSION RECOMMENDATION: Approved
WHEREAS, pursuant to Section 66.1105, Wis. Stats., the City of Oshkosh proposes
to create Tax Incremental District No. 16 - 100 Block Redevelopment Project; and
WHEREAS, the City of Oshkosh Plan Commission has prepared and adopted a
Project Plan for Tax Incremental District No. 16 - 100 Block Redevelopment Project which:
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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. 16 promotes the orderly development
of the City.
Contains an opinion of the City Attorney that the Plan complies with Section
66.1105(4), Wis. Stats.
and
MAY 22, 2001 01-233
RESOLUTION
CONT'D
WHEREAS, the Plan Commission has held a public hearing on the creation of TID
No. 16 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 66.1105, Wis. Stats.; and
WHEREAS, the City of Oshkosh Plan Commission affirms the following per the TID
#16 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 an office
commercial/residential structure containing approximately 65,000 to 97,920
square feet of 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
within the 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. 16 - 100 Block
Redevelopment Project, pursuant to the provisions of Section 66.1105, Wis. Stats.
BE IT FURTHER RESOLVED that the Common Council of the City of Oshkosh
hereby designates the boundaries of TID No. 16 as described in the attached "Exhibit A".
BE IT FURTHER RESOLVED that the Common Council of the City of Oshkosh
hereby approves creation of Tax Incremental Financing District No. 16 - 100 Block
Redevelopment Project.
BE IT FURTHER RESOLVED that the improvements contemplated in TID No. 16-
100 Block Redevelopment Project, are likely to significantly enhance the value of
substantially all real property in TID No. 16.
MAY 22, 2001 01-233
RESOLUTION
CONT'D
BE IT FURTHER RESOLVED that the value of equalized, taxable property in TID
No. 16, 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
No. 16 is blighted and in need of rehabilitation or conservation within the meaning of
Section 66.435, 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 #16
Legal Description
A part of N. Main Street, Otter Avenue, State Street, Ceape Avenue, and L.M. Miller's First
Addition, Block 21, all in the 8th Ward, City of Oshkosh, Winnebago County, Wisconsin,
described as follows: Commencing at the intersection of the centerline of N. Main Street
and the centerline of Otter Avenue; thence east along the centerline of Otter Avenue to the
centerline of State Street; thence south along the centerline of State Street to the
centerline of Ceape Avenue; thence west along the centerline of Ceape Avenue to the
centerline of N. Main Street; thence north along the centerline of N. Main Street to the
centerline of Otter Avenue, also being the point of beginning.
Area within the TID is estimated at 1.258 acres (54,830 square feet).