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HomeMy WebLinkAbout02-246.docJULY 9, 2002 02-246 RESOLUTION (CARRIED 5-0 LOST LAID OVER WITHDRAWN PURPOSE: APPROVE TAX INCREMENTAL DISTRICT NO. 18 PROJECT PLAN; DESIGNATE TAX INCREMENTAL DISTRICT NO. 18 BOUNDARIES; CREATE TAX INCREMENTAL DISTRICT NO. 18 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. 18 - Southwest Industrial Park Expansion; and WHEREAS, the City of Oshkosh Plan Commission has prepared and adopted a project plan for Tax Incremental District No. 18 - Southwest Industrial Park Expansion which: 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) Includes works or Contains Contains a statement listing the kind, number and location of all proposed public improvements within such District. an economic feasibility study. 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. 18 promotes the orderly development of the City. Contains an opinion of the City Attorney that the Plan complies with Section 66.1105(4)(f), Wis. Stats. and WHEREAS, the Plan Commission has held a public hearing on the creation of TID No. 18 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 JULY 9, 2002 02-246 RESOLUTION CONT'D WHEREAS, the City of Oshkosh Plan Commission affirms the following per the TID #18 Project Plan: 1) 2) 3) 4) 5) The improvements contemplated in TID #18, City of Oshkosh, are likely to significantly enhance the value of substantially all real property in TID #18. Not less than 50% of the real property within TID #18 is suitable for industrial development and zoned for industrial uses. Implementation of this Project Plan is consistent with the City's 1993 Comprehensive Plan and its associated amendments and additions. Project costs associated with implementing this project plan are consistent with the purpose for which the District was created. 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. 18 - Southwest Industrial Park Expansion, 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. 18 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. 18 - Southwest Industrial Park Expansion. BE IT FURTHER RESOLVED that the improvements contemplated in TID No. 18- Southwest Industrial Park Expansion, are likely to significantly enhance the value of all real property in TID No. 18. BE IT FURTHER RESOLVED that the value of equalized, taxable property in TID No. 18, 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 not less than 50% of the real property within TID #18 is suitable for industrial uses within the meaning of 66.0415, Wis. Stats., and has been zoned for industrial uses. BE IT FURTHER RESOLVED that all property within TID #18 is zoned for industrial use and will remain zoned for industrial uses for the life of TID #18. 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 to provide the improvements necessary to facilitate the expansion the Southwest Industrial Park and industrial development within TID #18. "EXHIBIT A" PROPOSED TAX INCREMENTAL DISTRICT #18 Legal Description A part of the SE ¼ and the E ½ of the SW ¼ all in Section 32, Township 18 North, Range 16 East, Town of Algoma, Winnebago County, Wisconsin described as follows: Commencing at the southeast corner of said Section 32; thence N. 89o27'05'' W., 413.57 feet along the south line of the SE ¼ of the SE ¼ of said Section 32 to the true point of beginning; thence N. 00°30'46'' E., 834.96 feet; thence S. 89°27'05'' E., 413.56 feet to the east line of the SE ¼ of said Section 32; thence N. 00°30'46'' E., 1,818.55 feet along the east line of the SE ¼ of said Section 32 to the northeast corner of the SE ¼ of said Section 32; thence N. 89°24'24'' W., 829.69 feet along the north line of the NE ¼ of the SE ¼ of said Section 32 to the southeasterly right-of-way line of the Wisconsin Southern R.R.; thence S. 59°39'18'' W., 3,693.13 feet along the southeasterly right-of-way line of the Wisconsin Southern R. R. to the west line of the SE ¼ of the SW ¼ of said Section 32; thence S. 00°30'13" W., 310.69 feet along the west line of the SE ¼ of the SW ¼ of said Section 32; thence S. 89°09'20'' E., 563.15 feet; thence S. 00°50'45'' W., 440.33 feet to the south line of the SE ¼ of the SW ¼ of said Section 32; thence S. 89°09'13" E., 772.80 feet along the south line of the SE ¼ of the SW ¼ of said Section 32 to the southeast corner of the SW ¼ of said Section 32; thence S. 89°27'05'' E., 2,253.06 feet along the south line of the SE ¼ of said Section 32 to the true point of beginning. Area within the TID is estimated at 161.00 acres.