HomeMy WebLinkAbout1st Amendment to TID 40 DA 10.26.22DEVELOPMENT AGREEMENT AMENDMENT
Document Number I Document Title
Amendment to Development Agreement between the City of Oshkosh,
onsin, a Wisconsin municipal corporation (the "City"), and MILES
BALL, LLC, a Wisconsin Limited liability company (the "Developer)."
nal Development Agreement recorded on 08/30/2021 as Doc#1861575,
;ter of Deeds Winnebago County, WI.
Recording Area
Name and Return Address
Community Development Rr y
PO Box 1130
Oshkosh, WI54903.1130
03-01300-100
Parcel Identification Number (PIN)
OF LOT 1 OF CERTIFIED SURVEY MAP NUMBER 7845 RECORDED AS DOCUMENT NUMBER 1869792, WINNEBAGO
INTY REGISTER OF DEEDS, LOCATED IN THE FRACTIONAL SOUTHWEST CORNER OF SECTION 24, TOWNSHIP 18 NORTH,
16 EAST, THIRD WARD, CITY OF OSHKOSH, WINNEBAGO COUNTY, WISCONSIN.
ALSO,
.ANDS DESCRIBED IN DOCUMENT NUMBER 1871307, WINNEBAGO COUNTY REGISTER OF DEED: A PORTION OF VACATED
;OUTH MAIN STREET AS DEDICATED IN VOLUME 1, CERTIFIED SURVEY MAPS, PAGE 6242 (DOCUMENT NUMBER 1475152),
VINNEBAGO COUNTY RECORDS, SAID MAP BEING PART OF BLOCK 10 OF THE PLAT OF ORIGINAL THIRD WARD, LOCATED
N PART OF THE SOUTHWEST 1/4 OF THE SOUTHWEST 1/4 OF SECTION 24, T18N-R16E, THIRD WARD, CITY OF OSHKOSH,
COUNTY, WISCONSIN, MORE FULLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHEAST CORNER
F VOLUME 1, CERTIFIED SURVEY MAPS, PAGE 6242, WINNEBAGO COUNTY RECORDS, SAID POINT BEING THE
ON OF THE SOUTH 30 FOOT RIGHT OF WAY OF WEST 8TH AVENUE AND THE WEST 30 FOOT RIGHT OF WAY OF
MAIN STREET; THENCE S00°00'18"E, 77.04 FEET ALONG THE EAST LINE OF SAID MAP TO THE POINT OF
EGINNING; THENCE CONTINUING S00°00'18"E, 12.10 FEET ALONG SAID LINE TO THE NORTHEAST CORNER OF LOT 2 OF
411) MAP; THENCE S89°59'42"W, 10.00 FEET ALONG SAID LOT; THENCE NOO°00'18"W, 22.10 FEET ALONG SAID LOT;
HENCE S45°00'18"E, 14.14 FEET TO THE POINT OF BEGINNING. RIGHT-OF-WAY TO BE VACATED CONTAINS 171 SQ. FT.,
IORE OR LESS. SUBJECT TO ALL EASEMENTS AND RESTRICTIONS OF RECORD.
instrument drafted by:
Lynn A. Lorenson
Oshkosh, WI54903-1130
FIRST AMENDMENT TO
TAX INCREMENTAL DISTRICT NO. 40
DEVELOPMENT AGREEMENT
(MILES KIMBALL BUILDING PROJECT)
This First Amendment to the Tax Incremental District No. 40 Development Agreement
(the "First Amendment") is made this 46 day of October, 2022 (the "Effective Date'), by and
between the CITY OF OSHKOSH, WISCONSIN, a Wisconsin municipal corporation and MILES
KIMBALL, LLC, a Wisconsin limited liability company (the "Developer").
RECITALS
WHEREAS, the City has established Tax Incremental District No. 40 (the "District") as a
district in which at least fifty percent (50%) of the property within the District is in need of
rehabilitation or conservation work, as defined in Wis. Stat. Sec. 66.1337(2m)(a), and in which
certain costs incurred for redevelopment of the District may be reimbursed from property tax
increment as provided by State law; and
WHEREAS, pursuant to the District Plan, a Development Agreement was entered into on
or about August 4, 2021 which required that construction of the proposed Project begin on or
before October 1, 2021 and be diligently pursued with substantial completion and issuance of a
certificate of occupancy on or before September 1, 2022; and
WHEREAS, construction of the Project was timely begun but the delivery of the
construction supplies including the delivery of the elevator has been delayed; and
WHEREAS, the Developer has requested to amend the Development Agreement to amend
the date for substantial completion to April 1, 2023.
NOW THEREFORE, in consideration of the recitals, the terms and conditions contained
in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the parties hereto agree as follows:
I. AMENDMENT. The parties agree to amend Paragraph II (B) and (E) of the Developer
Agreement as follows:
II. DEVELOPER'S OBLIGATIONS.
B. Project Construction. Developer shall commence construction of the
Developer Project on or before October 1, 2021. Once commenced, Developer
shall diligently pursue completion of construction of the Project in accordance
with applicable City ordinances and City -approved plans for the Property so that
in any case construction shall be substantially completed by April 1, 2023 (the
"Completion Date"). For purposes hereof, "substantially complete" shall mean
the issuance of a certificate of occupancy for the Project. Developer agrees that is
shall expend Project Costs in an amount of not less than Four Million Seven
Hundred Seventy Five Thousand and No/100 Dollars ($4,750,000.00)
("Minimum Project Costs"). (The "Amended Language").
E. Verification of Project Costs. Developer shall, upon completion of the
Project and, in any event, prior to December 31, 2023, submit to the City a complete
accounting of its Project Costs, including all invoices and evidence of payment.
Il. EFFECT OF AMENDMENT. The Amended Language of this First Amendment shall
supersede and supplant the language in paragraph II (B) and (E) of the Development
Agreement as if stated fully therein. All other paragraphs and provisions of Development
Agreement not otherwise addressed in this First Amendment shall remain in full force and
effect.
IN WITNESS WHEREOF, the parties have caused this Agreement to be signed as of the
date stated in the first paragraph of this Agreement.
MI.LL,LLC
By
Name: 1 _- n G IrF
STATE OF GJ / }
} SS
COUNTY OF
qq Personally came before me this / 7,�A day of October, 2022, the above -named
1� 0 n c:a _ , to me known to be the ry) cm 6 er , of Miles Kimball,
fL-C,I and the person who executed the foregoing instrument on behalf of the limited liability
company.
20
* SARAH *
ENDRIES
Notary Public, State of
CITY OF OSHKOSH, WISCONSIN
By: X—
Mark�ff City Manager
By: C�qnr)-'P fiyxQ,co-o'
Jessi . Balcom, City Clerk
Approved as to form:
h�I �-�l�f LiiLl
:km A.LoreAson, City Attorney
STATE OF WISCONSIN }
} SS
COUNTY OF WINNEBAGO }
Personally came before me this _2jj. _ day of October, 2022, the above named Mark A.
Rohloff and Jessi L. Balcom, to me known to be the City Manager and City Clerk, respectively,
of the City of Oshkosh, Wisconsin, and the persons who executed the foregoing instrument.
* 3RaPrisn
Notary Public, State of Wisconsin
My Commission: ij2A12084 eyplmr[iorP
My Commission:
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