HomeMy WebLinkAbout02-258.docJULY 9, 2002 02-258 RESOLUTION
(CARRIED 4-1
LOST LAID OVER WITHDRAWN
PURPOSE:
APPROVE LAND PURCHASE/123 JACKSON STREET
WISCONSIN AUTOMATED MACHINERY CORPORATION -
MARION ROAD/PEARL AVENUE REDEVELOPMENT AREA
INITIATED BY: PURCHASING DIVISION
WHEREAS, on August 8, 2000, by resolution 00-314, the Common Council
previously approved a Determination of Necessity, pursuant to Secs. 32.07, 66.43 (now
66.1331) and 66.46 (now 66.1105) of the Wisconsin Statutes, declaring that it was in the
public interest for the City of Oshkosh to acquire Wisconsin Automated Machinery
Corporation, 123 Jackson Street, as part of the Marion Road/Pearl Avenue
Redevelopment; and
WHEREAS, the parties have concluded negotiations that include these points of
agreement:
· Purchase price: $3.5 million ($1.37 million for real estate including fixtures
normally accompanying the real estate but not including any business
machinery or equipment and $2.13 million for relocation as required by Secs.
32.19, 32.195 and 32.20, Wis. Stats., and COMM 202, Wis. Adm. Code)
· Seller shall dismiss all litigation and waive all claims for additional compensation
City may immediately conduct ground water testing. City shall be responsible for
the first $750,000 in remediation expenses, Seller shall be responsible for the
next $250,000 and City for any expenses in excess of $1 million. Should testing
reveal clean-up expenses in excess of $1 million, City may withdraw from
agreement and pursue condemnation thereafter
· Real estate taxes prorated through July 31, 2002 closing with Seller vacating
premises on or before March 31, 2003
NOW, THEREFORE BE IT RESOLVED by the Common Council of the City of
Oshkosh that the proper City officials are authorized and directed to purchase 123
Jackson Street, as outlined above, and to execute all documents necessary for purpose of
same.
Money for this purpose is appropriated from:
Acct. No. 539-1040-7208-000 TIF 13 - Land Purchases