HomeMy WebLinkAboutTID No. 44 Project Plan
August 6, 2024
PROJECT PLAN
City of Oshkosh, Wisconsin
Tax Incremental District No. 44
Northwest Oshkosh Expansion Area
Prepared by:
Ehlers
N19W24400 Riverwood Drive,
Suite 100
Waukesha, WI 53188
BUILDING COMMUNITIES. IT’S WHAT WE DO.
Tax Incremental District No. 44 Project Plan City of Oshkosh
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KEY DATES
Organizational Joint Review Board Meeting Held: Scheduled for July 29, 2024
Public Hearing Held: Scheduled for August 6, 2024
Approval by Plan Commission: Scheduled for August 6, 2024
Adoption by City Council: Scheduled for August 27, 2024
Approval by the Joint Review Board: TBD
TABLE OF CONTENTS
Executive Summary.................................................................................................................................. 3
Preliminary Map of Proposed District Boundary .......................................................................... 6
Map Showing Existing Uses and Conditions ................................................................................... 9
Preliminary Parcel List and Analysis .................................................................................................. 11
Equalized Value Test ............................................................................................................................. 14
Statement Listing the Kind, Number and Location of All Proposed Public Works or
Improvements Within the District ..................................................................................................... 15
Map Showing Proposed Improvements and Uses ....................................................................... 21
Detailed List of Estimated Project Costs ...................................................................................... 24
Economic Feasibility Study, Description of the Methods of Financing Estimated
Project Costs and the Time When Related Costs or Monetary Obligations are to be
Incurred ...................................................................................................................................................... 26
Annexed Property .................................................................................................................................... 31
Estimate of Property to Be Devoted to Retail Business ........................................................... 31
Proposed Changes of Zoning Ordinances, Master Plan, Map, Building Codes and City
Ordinances .................................................................................................................................................. 31
Statement of the Proposed Method for the Relocation of any Persons to be Displaced
........................................................................................................................................................................ 32
How Creation of the Tax Incremental District Promotes the Orderly Development of
the City ........................................................................................................................................................ 32
List of Estimated Non-Project Costs ...............................................................................................33
Legal Opinion Advising Whether the Plan is Complete and Complies with Wis. Stat. §
66.1105(4)(f) ............................................................................................................................................. 34
Calculation of the Share of Projected Tax Increments Estimated to be Paid by the
Owners of Property in the Overlying Taxing Jurisdictions .................................................... 36
Tax Incremental District No. 44 Project Plan City of Oshkosh
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SECTION 1:
Executive Summary
DESCRIPTION OF DISTRICT
Tax Incremental District (“TID”) No. 44 (“District”) is a proposed Mixed-Use
District comprising approximately 392 acres located in the northwestern
portion of the City, generally including the areas east and west of USH 45
between the Interstate 41 and Ryf Road interchanges. The District will be
created to pay the costs of public infrastructure improvements needed to allow
for full development of areas within the District, and for potential payment of
development incentives upon verified demonstration of need (“Project”) In
addition to the incremental property value that will be created, the City expects
the Project will result in creation of commercial and industrial space, housing
units, employment, and a general increase in commerce and economic activity
in the District and City.
AUTHORITY
The City is creating the District under the provisions of Wis. Stat. § 66.1105.
ESTIMATED TOTAL PROJECT COST EXPENDITURES
The City anticipates making total expenditures of approximately $44.8 million
(“Project Costs”) to undertake the projects listed in this Project Plan (“Plan”).
Project Costs include an estimated $16.9 million for public infrastructure, $18.6
million for potential development incentives, $9 million in estimated interest
and financing expense associated with public infrastructure borrowing, and
$314,000 for costs related to creation and administration of the District. The
figure listed for development incentives is for purposes of evaluating economic
feasibility only. Incentives will only be considered for projects that can
demonstrate a verifiable gap, and which meet other criteria established by the
City. This Plan does not authorize payment of incentives to any specific project
but provides a framework for the City to consider them on a case-by-case basis.
INCREMENTAL VALUATION
The City projects that new land and improvements value of approximately $162
million will result from the Project. Creation of this additional value will be made
possible by the Project Costs made within the District. A table detailing
assumptions as to the development timing and associated values is included in
the Economic Feasibility Study located within this Plan.
Tax Incremental District No. 44 Project Plan City of Oshkosh
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EXPECTED TERMINATION OF DISTRICT
Based on the Economic Feasibility Study located within Section 9 of this Plan,
the City anticipates that the District will generate sufficient tax increment to
pay all Project Costs within 18 of its allowable 20 years.
SUMMARY OF FINDINGS
As required by Wis. Stat. § 66.1105, and as documented in this Plan and the
exhibits contained and referenced herein, the following findings are made:
1. That “but for” the creation of this District, the development projected to
occur as detailed in this Plan: 1) would not occur; or 2) would not occur in
the manner, at the values, or within the timeframe desired by the City. In
reaching this determination, the City has considered the substantial
investment needed to provide the public infrastructure necessary to allow
for development within the District. Absent the use of tax incremental
financing, the City is unable to fully fund this program of infrastructure
improvements, and development within the area will not occur at all, or
within the timeframes identified within this Plan.
2. The economic benefits of the District, as measured by increased
employment, business and personal income, and property value, are
sufficient to compensate for the cost of the improvements. In making this
determination, the City has considered the expectation that implementation
of the District’s Plan will result in creation of commercial and industrial
space, housing units, employment, and a general increase in commerce and
economic activity in the District and City.
3. The benefits of the proposal outweigh the anticipated tax increments to be
paid by the owners of property in the overlying taxing jurisdictions. As
required by Wis. Stat. § 66.1105(4)(i)4., a calculation of the share of
projected tax increments estimated to be paid by the owners of property in
the overlying taxing jurisdictions has been prepared and can be found in this
Plan. However, because the Project would not occur without the use of tax
incremental financing, these tax increments would not be paid but for
creation of the District. Accordingly, the City finds that the benefits
expected to be realized as set forth in this Plan outweigh the value of the
tax increments to be invested in the Project.
4. Not less than 50% by area of the real property within the District is suitable
for mixed use development as defined by Wis. Stat. § 66.1105(2)(cm). Lands
proposed for newly-platted residential development comprise no more than
35% of the real property area within the District. Costs related to newly-
platted residential development may be incurred based on the proposed
Tax Incremental District No. 44 Project Plan City of Oshkosh
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development having a density of at least three (3) units per acre as defined
in Wis. Stat. § 66.1105(2)(f)3.a.
5. Based on the foregoing finding, the District is designated as a mixed-use
district.
6. The Project Costs relate directly to promoting mixed use development in
the District, consistent with the purpose for which the District is created.
7. Improvements to be made in the District are likely to significantly enhance
the value of substantially all of the other real property in the District.
8. The equalized value of taxable property in the District, plus the incremental
value of all existing tax incremental districts within the City does not exceed
12% of the total equalized value of taxable property within the City.
9. The City estimates that less than 35% of the territory within the District will
be devoted to retail business at the end of the District’s maximum
expenditure period, pursuant to Wis. Stat. § 66.1105(5)(b).
10. That there are no parcels to be included within the District that were
annexed by the City within the preceding three-year period.
11. The Plan for the District is feasible and is in conformity with the Master Plan
of the City.
Tax Incremental District No. 44 Project Plan City of Oshkosh
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SECTION 2:
Preliminary Map of Proposed District Boundary
Map Found on Following Page.
There are a total of 133.12 acres of wetlands and floodplains located within
parcels included in the District boundary. These areas are excluded from the
District.
Tax Incremental District No. 44 Project Plan City of Oshkosh
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Tax Incremental District No. 44 Project Plan City of Oshkosh
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Tax Incremental District No. 44 Project Plan City of Oshkosh
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SECTION 3:
Map Showing Existing Uses and Conditions
Map Found on Following Page.
Tax Incremental District No. 44 Project Plan City of Oshkosh
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Tax Incremental District No. 44 Project Plan City of Oshkosh
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SECTION 4:
Preliminary Parcel List and Analysis
The table below identifies the parcels to be included in the District, with
identification of the acres suitable for commercial or business use, newly
platted residential use, and industrial use. Total acreage of existing public
rights-of-way included within the proposed District boundary are also listed. A
total of 525.47 acres, to include existing rights-of-way, lie within the proposed
District boundary. Of this total, 133.12 acres are wetlands or floodplain, which
are excluded from the District leaving total net acreage of 392.35. Of this total,
250.38 acres, or 63.82% of the total net acreage is suitable for mixed use
development, meeting the minimum requirement of 50%. A total of 132.75 acres
is suitable for newly platted residential development, which is 33.83% of the
total net District acreage, which is less than the 35% maximum permitted.
(Table continued next page)
N/A ROW Areas 108.77
1 91279140000 0 STEARNS DR 36.83 1.21 31.98
2 91279150000 0 STEARNS DR 38.27 21.36
3 91279160000 0 STEARNS DR 9.32 6.36
4 91279170000 0 STEARNS DR 0.00
5 91280100000 2247 RYF RD 7.10 7.10
6 91280000000 0 LAKE BUTTE DES MORTS DR 0.85 0.85
7 91279700000 0 LAKE BUTTE DES MORTS DR 15.22 15.22
8 91279600000 0 LAKE BUTTE DES MORTS DR 1.89 1.89
9 91279180000 4020 STEARNS DR 8.37 8.37
10 91279120000 0 STEARNS DR 19.50 11.69 7.68
11 91279130000 0 STEARNS DR 20.72 0.51 17.62
12 91279900000 0 LAKE BUTTE DES MORTS DR 9.39 9.39
13 91279500000 0 LAKE BUTTE DES MORTS DR 2.18 2.18
14 91279100000 0 STEARNS DR 0.52 0.52
15 91279110000 0 STEARNS DR 0.00
16 91279000000 1990 W SNELL RD 35.37 35.37
17 91276150000 0 LAKE BUTTE DES MORTS DR 10.91 8.40
18 91276100000 0 LAKE BUTTE DES MORTS DR 1.03 1.03
19 91276200000 3485 LAKE BUTTE DES MORTS DR 6.72 5.45
20 91276250000 0 LAKE BUTTE DES MORTS DR 4.50 4.19
21 91276300000 0 LAKE BUTTE DES MORTS DR 0.00
22 91278800100 1975 W SNELL RD 0.55
23 91278800200 1981 W SNELL RD 2.24 2.24
24 91278050000 0 OMNI DR 4.40 4.40
25 91278800000 3596 STEARNS DR 4.55 4.55
Commercial
/Business
Newly-
Platted
Residential
Industrial
Suitable AcresMap
Reference
Number
Parcel Number Address Acres
Tax Incremental District No. 44 Project Plan City of Oshkosh
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The table on the following page provides the January 1, 2024, assessed value
of the land and improvements for each parcel to be included in the District. For
purpose of estimating District base value, the prior year’s actual assessment
ratio of 69.20% is used. Based on that ratio, the total equalized, or fair market
value of land and improvements within the District as of January 1, 2024, is
$15,248,200. Actual base value will be certified using the January 1, 2024,
assessment ratio.
26 91278040000 0 OMNI DR 5.00 5.00
27 91278000200 3501 STEARNS DR 0.19
28 91278010000 0 OMNI DR 2.31 2.31
29 91278020000 0 OMNI DR 2.33 2.33
30 91278900000 1911 W SNELL RD 5.84 5.84
31 91278030000 0 OMNI DR 4.47 4.47
32 91278000000 3530 OMNI DR 12.26 12.26
33 91275200000 0 W SNELL RD 1.86 0.90
34 91225200000 0 W FERNAU AVE 1.08 1.08
35 91225070000 3116 MARINE DR 3.30 3.30
36 91225090000 1970 WALTER CT 0.75
37 91225060000 1990 WALTER CT 0.44
38 91225050000 1995 WALTER CT 1.44
39 91225040000 1980 W FERNAU AVE 0.70
40 91225050000 0 ALGOMA BLVD 1.18
TOTALS 392.35 22.30 132.75 92.00
Percentage of TID Area Suitable for Mixed Use Development (at least 50%) 62.97%
Percentage of TID Area Not Suitable for Development 37.03%
Total Area 100%
Percentage of TID Area Suitable for Newly Platted Residential Development (no more than 35%) 33.83%
Commercial
/Business
Newly-
Platted
Residential
Industrial
Suitable AcresMap
Reference
Number
Parcel Number Address Acres
Tax Incremental District No. 44 Project Plan City of Oshkosh
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Calculation of Estimated Base Value1
Parcel Land Improvement Total Land Improvement Total
91279140000 6,200 0 6,200 9,000 0 9,000
91279150000 10,200 0 10,200 14,700 0 14,700
91279160000 29,200 0 29,200 42,200 0 42,200
91279170000 7,200 0 7,200 10,400 0 10,400
91280100000 106,300 1,649,200 1,755,500 153,600 2,383,100 2,536,700
91280000000 2,900 0 2,900 4,200 0 4,200
91279700000 3,300 0 3,300 4,800 0 4,800
91279600000 300 0 300 400 0 400
91279180000 42,700 5,800 48,500 61,700 8,400 70,100
91279120000 3,300 0 3,300 4,800 0 4,800
91279130000 12,700 0 12,700 18,400 0 18,400
91279900000 4,100 0 4,100 5,900 0 5,900
91279500000 13,100 0 13,100 18,900 0 18,900
91279100000 500 0 500 700 0 700
91279110000 400 0 400 600 0 600
91279000000 245,200 784,500 1,029,700 354,300 1,133,600 1,487,900
91276150000 8,600 0 8,600 12,400 0 12,400
91276100000 1,800 0 1,800 2,600 0 2,600
91276200000 32,800 69,400 102,200 47,400 100,300 147,700
91276250000 11,200 0 11,200 16,200 0 16,200
91276300000 400 0 400 600 0 600
91278800100 0 0 0 000
91278800200 42,400 956,900 999,300 61,300 1,382,700 1,444,000
91278050000 111,000 0 111,000 160,400 0 160,400
91278800000 79,100 190,600 269,700 114,300 275,400 389,700
91278040000 120,000 0 120,000 173,400 0 173,400
91278000200 0 0 0 000
91278010000 70,100 0 70,100 101,300 0 101,300
91278020000 69,900 0 69,900 101,000 0 101,000
91278900000 92,800 251,000 343,800 134,100 362,700 496,800
91278030000 112,100 0 112,100 162,000 0 162,000
91278000000 229,000 3,605,500 3,834,500 330,900 5,210,000 5,540,900
91275200000 0 0 0 000
91225200000 72,500 0 72,500 104,800 0 104,800
91225070000 379,900 416,900 796,800 549,000 602,400 1,151,400
91225090000 68,000 51,700 119,700 98,300 74,700 173,000
91225060000 38,200 194,300 232,500 55,200 280,800 336,000
91225050000 125,700 112,700 238,400 181,600 162,900 344,500
91225040000 55,800 54,800 110,600 80,600 79,200 159,800
91225050000 0 0 0 000
TOTALS 2,208,900 8,343,300 10,552,200 3,192,000 12,056,200 15,248,200
1) Estimated based on values as of January 1, 2024.
Assessed Value Equalized Value2
2) Calculation based on aggregate assessment ratio of 69.20%.
Tax Incremental District No. 44 Project Plan City of Oshkosh
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SECTION 5:
Equalized Value Test
The following calculations demonstrate that the City expects to be in
compliance with Wis. Stat. § 66.1105(4)(gm)4.c., which requires that the
equalized value of the taxable property in the proposed District, plus the value
increment of all existing tax incremental districts, does not exceed 12% of the
total equalized value of taxable property within the City.
The equalized value of the increment of existing tax incremental districts within
the City, plus the base value of the proposed District, totals $363,159,100. This
value is less than the maximum of $697,458,960 in equalized value that is
permitted for the City.
Calculation of City Equalized Value Limit
City TID IN Equalized Value (Jan. 1, 2023) 5,812,158,000$
TID Valuation Limit @ 12% of Above Value 697,458,960$
Calculation of Value Subject to Limit
Estimated Base Value of Territory to be Included in District 15,248,200$
Incremental Value of Existing Districts (Jan. 1, 2023) 347,910,900$
Total Value Subject to 12% Valuation Limit 363,159,100$
Total Percentage of TID IN Equalized Value 6.25%
Residual Value Capacity of TID IN Equalized Value 334,299,860$
Tax Incremental District No. 44 Project Plan City of Oshkosh
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SECTION 6:
Statement Listing the Kind, Number and Location of All
Proposed Public Works or Improvements Within the
District
Project Costs are any expenditure made, estimated to be made, or monetary
obligations incurred or estimated to be incurred as outlined in this Plan. Project
Costs will be diminished by any income, special assessments, or other revenues,
including user fees or charges, other than tax increments, received or
reasonably expected to be received in connection with the implementation of
the Plan. If Project Costs incurred benefit territory outside the District, a
proportionate share of the cost is not a Project Cost. Costs identified in this
Plan are preliminary estimates made prior to design considerations and are
subject to change after planning, design and construction is completed.
With all Project Costs, the costs of engineering, design, survey, inspection,
materials, construction, restoring property to its original condition, apparatus
necessary for public works, legal and other consultant fees, testing,
environmental studies, permits, updating City ordinances and plans, judgments
or claims for damages and other expenses are included as Project Costs.
The following is a list of public works and other tax incremental financing
eligible Project Costs that the City expects to make, or may need to make, in
conjunction with the implementation of the District’s Plan. The map found in
Section 7 of this Plan along with the Detailed List of Project Costs found in
Section 8 provide additional information as to the kind, number, and location
of potential Project Costs.
Property, Right-of-Way, and Easement Acquisition
Property Acquisition for Development
To promote and facilitate development the City may acquire property within
the District. The cost of property acquired, and any costs associated with the
transaction, are eligible Project Costs. Following acquisition, other Project
Costs within the categories detailed in this Section may be incurred to make
the property suitable for development. Any revenue received by the City from
the sale of property acquired pursuant to the execution of this Plan will be used
to reduce the total project costs of the District. If total Project Costs incurred
by the City to acquire property and make it suitable for development exceed
the revenues or other consideration received from the sale or lease of that
property, the net amount shall be considered “real property assembly costs” as
Tax Incremental District No. 44 Project Plan City of Oshkosh
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defined in Wis. Stat. § 66.1105(2)(f)1.c., and subject to recovery as an eligible
Project Cost.
Property Acquisition for Conservancy
To promote the objectives of this Plan, the City may acquire property within
the District that it will designate for conservancy. These conservancy objectives
include preserving historic resources or sensitive natural features; protection of
scenic and historic views; maintaining habitat for wildlife; maintaining adequate
open space; reduction of erosion and sedimentation by preserving existing
vegetation; and providing adequate areas for management of stormwater. The
cost of property acquired for conservancy, and any costs associated with the
transaction, are eligible Project Costs.
Acquisition of Rights-of-Way
The City may need to acquire property to allow for installation of streets,
driveways, sidewalks, utilities, stormwater management practices and other
public infrastructure. Costs incurred by the City to identify, negotiate, and
acquire rights-of-way are eligible Project Costs.
Acquisition of Easements
The City may need to acquire temporary or permanent easements to allow for
installation and maintenance of streets, driveways, sidewalks, utilities,
stormwater management practices and other public infrastructure. Costs
incurred by the City to identify, negotiate, and acquire easement rights are
eligible Project Costs.
Relocation Costs
If relocation expenses are incurred in conjunction with the acquisition of
property, those expenses are eligible Project Costs. These costs may include
but are not limited to preparation of a relocation plan; allocations of staff time;
legal fees; publication of notices; obtaining appraisals; and payment of
relocation benefits as required by Wis. Stat. Chapter 32 and Wis. Admin. Code
ADM 92.
Site Preparation Activities
Environmental Audits and Remediation
If it becomes necessary to evaluate any land or improvement within the District,
any cost incurred by the City related to environmental audits, testing, and
remediation are eligible Project Costs.
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Demolition
To make sites suitable for development, the City may incur costs related to
demolition and removal of structures or other land improvements, to include
abandonment of wells or other existing utility services.
Site Grading
Land within the District may require grading to make it suitable for
development, to provide access, and to control stormwater runoff. The City
may need to remove and dispose of excess material or bring in fill material to
provide for proper site elevations. Expenses incurred by the City for site
grading are eligible Project Costs.
Utilities
Sanitary Sewer System Improvements
To allow development to occur, the City may need to construct, alter, rebuild,
or expand sanitary sewer infrastructure within the District. Eligible Project
Costs include, but are not limited to, construction, alteration, rebuilding, or
expansion of collection mains; manholes and cleanouts; service laterals; force
mains; interceptor sewers; pumping stations; lift stations; wastewater treatment
facilities; and all related appurtenances. To the extent sanitary sewer projects
undertaken within the District provide direct benefit to land outside of the
District, the City will make an allocation of costs based on such benefit. Those
costs corresponding to the benefit allocated to land within the District, and
necessitated by the implementation of the Project Plan, are eligible Project
Costs. Implementation of the Project Plan may also require that the City
construct, alter, rebuild, or expand sanitary sewer infrastructure located outside
of the District. That portion of the costs of sanitary sewer system projects
undertaken outside the District which are necessitated by the implementation
of the Project Plan are eligible Project Costs.
Water System Improvements
To allow development to occur, the City may need to construct, alter, rebuild,
or expand water system infrastructure within the District. Eligible Project Costs
include, but are not limited to, construction, alteration, rebuilding, or expansion
of distribution mains; manholes and valves; hydrants; service laterals; pumping
stations; wells; water treatment facilities; storage tanks and reservoirs; and all
related appurtenances. To the extent water system projects undertaken within
the District provide direct benefit to land outside of the District, the City will
make an allocation of costs based on such benefit. Those costs corresponding
to the benefit allocated to land within the District, and necessitated by the
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implementation of the Project Plan, are eligible Project Costs. Implementation
of the Project Plan may also require that the City construct, alter, rebuild, or
expand water system infrastructure located outside of the District. That
portion of the costs of water system projects undertaken outside the District
which are necessitated by the implementation of the Project Plan are eligible
Project Costs.
Stormwater Management System Improvements
Development within the District will cause stormwater runoff. To manage this
stormwater runoff, the City may need to construct, alter, rebuild, or expand
stormwater management infrastructure within the District. Eligible Project
Costs include, but are not limited to, construction, alteration, rebuilding, or
expansion of stormwater collection mains; inlets, manholes and valves; service
laterals; ditches; culvert pipes; box culverts; bridges; stabilization of stream and
riverbanks; and infiltration, filtration, and detention Best Management Practices
(BMP’s). To the extent stormwater management system projects undertaken
within the District provide direct benefit to land outside of the District, the City
will make an allocation of costs based on such benefit. Those costs
corresponding to the benefit allocated to land within the District, and
necessitated by the implementation of the Project Plan, are eligible Project
Costs. Implementation of the Project Plan may also require that the City
construct, alter, rebuild, or expand stormwater management infrastructure
located outside of the District. That portion of the costs of stormwater
management system projects undertaken outside the District which are
necessitated by the implementation of the Project Plan are eligible Project
Costs.
Electric Service
To create sites suitable for development, the City may incur costs to provide,
relocate or upgrade electric services. Relocation may require abandonment and
removal of existing poles or towers, installation of new poles or towers, or
burying of overhead electric lines. Costs incurred by the City to undertake this
work are eligible Project Costs.
Gas Service
To create sites suitable for development, the City may incur costs to provide,
relocate or upgrade gas mains and services. Costs incurred by the City to
undertake this work are eligible Project Costs.
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Communications Infrastructure
To create sites suitable for development, the City may incur costs to provide,
relocate or upgrade infrastructure required for voice and data communications,
including, but not limited to telephone lines, cable lines and fiber optic cable.
Costs incurred by the City to undertake this work are eligible Project Costs.
Streets and Streetscape
Street Improvements
To allow development to occur, the City may need to construct or reconstruct
streets, highways, alleys, access drives and parking areas. Eligible Project Costs
include, but are not limited to: excavation; removal or placement of fill;
construction of road base; asphalt or concrete paving or repaving; installation
of curb and gutter; installation of sidewalks and bicycle lanes; installation of
culverts, box culverts and bridges; rail crossings and signals; utility relocation,
to include burying overhead utility lines; street lighting; installation of traffic
control signage and traffic signals; pavement marking; right-of-way restoration;
installation of retaining walls; and installation of fences, berms, and landscaping.
Streetscaping and Landscaping
To attract development consistent with the objectives of this Plan, the City may
install amenities to enhance development sites, rights-of-way, and other public
spaces. These amenities include but are not limited to landscaping; lighting of
streets, sidewalks, parking areas and public areas; installation of planters,
benches, clocks, tree rings, trash receptacles and similar items; and installation
of brick or other decorative walks, terraces, and street crossings. These and any
other similar amenities installed by the City are eligible Project Costs.
Community Development
Cash Grants (Development Incentives)
The City may enter into agreements with property owners, lessees, or
developers of land located within the District for sharing costs to encourage
the desired kind of improvements and assure tax base is generated sufficient
to recover Project Costs. No cash grants will be provided until the City executes
a developer agreement with the recipient of the cash grant. Any payments of
cash grants made by the City are eligible Project Costs.
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Miscellaneous
Projects Outside the Tax Increment District
Pursuant to Wis. Stat. § 66.1105(2)(f)1.n, the City may undertake projects within
territory located within one-half mile of the boundary of the District provided
that: 1) the project area is located within the City’s corporate boundaries; and
2) the projects are approved by the Joint Review Board. The cost of projects
completed outside the District pursuant to this section are eligible project costs
and may include any project cost that would otherwise be eligible if undertaken
within the District. The City intends to make the following project cost
expenditures outside the District:
A portion of the 10’ pedestrian trail connecting existing neighborhoods
to the west lies outside of the District boundary.
Portions of the sidewalks to be installed as well as the Stearns Drive
reconstruction project may lie on, or just outside of the District boundary.
The City will also install a water main loop, a water main relay and a
sanitary sewer relay, portions of which are located outside of the District.
Professional Service and Organizational Costs
The costs of professional services rendered, and other costs incurred, in relation
to the creation, administration and termination of the District, and the
undertaking of the projects contained within this Plan, are eligible Project Costs.
Professional services include but are not limited to architectural; environmental;
planning; engineering; legal; audit; financial; and the costs of informing the
public with respect to the creation of the District and the implementation of the
Plan.
Administrative Costs
The City may charge to the District as eligible Project Costs reasonable
allocations of administrative costs, including, but not limited to, employee
salaries. Costs allocated will bear a direct connection to the time spent by City
employees relating to the implementation of the Plan.
Financing Costs
Interest expense, debt issuance expenses, redemption premiums, and any other
fees and costs incurred in conjunction with obtaining financing for projects
undertaken under this Plan are eligible Project Costs.
Tax Incremental District No. 44 Project Plan City of Oshkosh
Prepared by Ehlers Page | 21
SECTION 7:
Map Showing Proposed Improvements and Uses
Maps Found on Following Pages.
Tax Incremental District No. 44 Project Plan City of Oshkosh
Prepared by Ehlers Page | 22
Tax Incremental District No. 44 Project Plan City of Oshkosh
Prepared by Ehlers Page | 23
Tax Incremental District No. 44 Project Plan City of Oshkosh
Prepared by Ehlers Page | 24
SECTION 8:
Detailed List of Estimated Project Costs
The table of the following page identifies the Project Costs that the City
currently expects to incur in implementing the District’s Plan. All projects
identified and related costs reflect the best estimates available as of the date
of preparation of this Plan. All costs are preliminary estimates and may increase
or decrease. Certain Project Costs listed may become unnecessary, and other
Project Costs not currently identified may need to be made. (Section 6 details
the general categories of eligible Project Costs). Changes in Project Cost totals
or the types of Project Costs to be incurred will not require that this Plan be
amended. This Plan is not meant to be a budget nor an appropriation of funds
for specific Project Costs, but a framework within which to manage Project
Costs.
Tax Incremental District No. 44 Project Plan City of Oshkosh
Prepared by Ehlers Page | 25
Project Name/Type Phase I (2026) Phase II (2028) Phase III (2030) Ongoing Totals
1 County Road Y Water Main Loop 4,739,300 4,739,300
2Sanitary Sewer Relay 1,648,700 1,648,700
3Water Main Relay 2,565,900 2,565,900
4 Sterns Drive: New 36' Wide Concrete Street 5,180,000 5,180,000
5 10' Pedestrian Trail 448,000 448,000
65' Public Sidewalk WIOUWASH Trail to Slew Bridge 1,071,000 1,071,000
75' Public Sidewalk Ryf Road to Lake Butte des Morts Development 1,260,000 1,260,000
8Development Incentives 18,576,844 18,576,844
9Interest on Long Term Debt 3,700,225 3,852,225 1,148,850 8,701,300
10 Financing Costs 127,760 154,918 55,580 338,258
11 Ongoing Planning & Administrative Costs 313,704 313,704
Total Projects 10,215,985 11,753,043 3,983,430 18,890,548 44,843,006
Notes:
1Cost estimates for public improvements provided by City engineering department on 6‐21‐2024.
2Estimates for development incentives, interest on long term debt, financing costs and planning & administrative costs developed by Ehlers.
City of Oshkosh, Wisconsin
Tax Increment District No. 44
Detailed List of Estimated Project Costs
Est. Cost1&2Project
ID
Tax Incremental District No. 44 Project Plan City of Oshkosh
Prepared by Ehlers Page | 26
SECTION 9:
Economic Feasibility Study, Description of the Methods
of Financing Estimated Project Costs and the Time When
Related Costs or Monetary Obligations are to be Incurred
This Section includes a forecast of the valuation increases expected within the
District, the associated tax increment collections, a summary of how Project
Costs would be financed, and a projected cash flow demonstrating that the
District is economically feasible.
Key Assumptions
The Project Costs the City plans to make are expected to create $162 million in
incremental value by January 1, 2036. Estimated valuations and timing for
construction of the Project are included in Table 1. Assuming the City’s current
equalized TID Interim tax rate of $22.21 per thousand of equalized value, and
no economic appreciation or depreciation, the Project would generate $53.5
million in incremental tax revenue over the 20-year term of the District as
shown in Table 2.
Tax Incremental District No. 44 Project Plan City of Oshkosh
Prepared by Ehlers Page | 27
Table 1 – Development Assumptions
Annual Total
Total Value Total Value Total Value Total Value
1 2024 4,043,756 4,043,756 2024 1
2 2025 11,041,176 11,041,176 2025 2
3 2026 12,904,747 7,000,000 19,904,747 2026 3
4 2027 12,541,373 7,000,000 19,541,373 2027 4
5 2028 10,314,427 1,500,000 1,000,000 7,000,000 19,814,427 2028 5
6 2029 7,845,253 1,500,000 1,000,000 7,000,000 17,345,253 2029 6
7 2030 8,329,742 1,500,000 1,000,000 7,000,000 17,829,742 2030 7
8 2031 7,118,535 1,500,000 7,000,000 15,618,535 2031 8
9 2032 5,907,327 7,000,000 12,907,327 2032 9
10 2033 2,953,664 7,000,000 9,953,664 2033 10
11 2034 7,000,000 7,000,000 2034 11
12 2035 7,000,000 7,000,000 2035 12
13 2036 0 2036 13
14 2037 0 2037 14
15 2038 0 2038 15
16 2039 0 2039 16
17 2040 0 2040 17
18 2041 0 2041 18
19 2042 0 2042 19
20 2043 0 2043 20
Totals 83,000,000 6,000,000 3,000,000 70,000,000 162,000,000
Construction
Year
Construction
Year
City of Oshkosh, Wisconsin
Tax Increment District No. 44
Development Assumptions
Butte des
Morts Apts.
Future
Commercial
Future
Industrial
Future
Residential
Tax Incremental District No. 44 Project Plan City of Oshkosh
Prepared by Ehlers Page | 28
Table 2 – Tax Increment Projection Worksheet
Type of District Base Value 15,248,200
District Creation Date Economic Change Factor 0.00%
Valuation Date Jan 1, 2024 Apply to Base Value
Max Life (Years) Base Tax Rate $22.21
Expenditure Period/Termination 15 9/1/2039 Rate Adjustment Factor 0.00%
Revenue Periods/Final Year 20 2045
Extension Eligibility/Years Yes 3
Eligible Recipient District
Construction
Year Value Added Valuation Year
Economic
Change
Total
Increment Revenue Year Tax Rate1 Tax Increment
1 2024 4,043,756 2025 0 4,043,756 2026 $22.21 89,831
2 2025 11,041,176 2026 0 15,084,933 2027 $22.21 335,107
3 2026 19,904,747 2027 0 34,989,680 2028 $22.21 777,284
4 2027 19,541,373 2028 0 54,531,053 2029 $22.21 1,211,390
5 2028 19,814,427 2029 0 74,345,480 2030 $22.21 1,651,561
6 2029 17,345,253 2030 0 91,690,733 2031 $22.21 2,036,880
7 2030 17,829,742 2031 0 109,520,475 2032 $22.21 2,432,962
8 2031 15,618,535 2032 0 125,139,009 2033 $22.21 2,779,923
9 2032 12,907,327 2033 0 138,046,336 2034 $22.21 3,066,655
10 2033 9,953,664 2034 0 148,000,000 2035 $22.21 3,287,772
11 2034 7,000,000 2035 0 155,000,000 2036 $22.21 3,443,275
12 2035 7,000,000 2036 0 162,000,000 2037 $22.21 3,598,777
13 2036 0 2037 0 162,000,000 2038 $22.21 3,598,777
14 2037 0 2038 0 162,000,000 2039 $22.21 3,598,777
15 2038 0 2039 0 162,000,000 2040 $22.21 3,598,777
16 2039 0 2040 0 162,000,000 2041 $22.21 3,598,777
17 2040 0 2041 0 162,000,000 2042 $22.21 3,598,777
18 2041 0 2042 0 162,000,000 2043 $22.21 3,598,777
19 2042 0 2043 0 162,000,000 2044 $22.21 3,598,777
20 2043 0 2044 0 162,000,000 2045 $22.21 3,598,777
Totals 162,000,000 0 Future Value of Increment 53,501,635
Notes:
1Tax rate shown is actual 2023/2024 rate per DOR Form PC‐202 (Tax Increment Collection Worksheet).
Mixed Use
September 1, 2024
20
No
City of Oshkosh, Wisconsin
Tax Increment District No. 44
Tax Increment Projection Worksheet
Tax Incremental District No. 44 Project Plan City of Oshkosh
Prepared by Ehlers Page | 29
Financing and Implementation
The City expects to issue General Obligation or revenue secured debt to pay
the cost of street and utility improvements needed to serve the District. Debt
service payments will be paid from tax increment revenues on a priority basis
to the extent increment is available.
The City may also enter into agreements to pay development incentives if
requested, subject to confirmation that incentives are required to allow the
project to proceed. Incentive payments are expected to be made on a “pay as
you go” basis from tax increment associated with the assisted project, subject
to availability of increment and annual appropriation.
Costs to create the District and administer it over its life will be paid from annual
tax increment collections. Costs incurred prior to the availability of tax
increment will be paid from other funds and may be reimbursed, to include
interest on any advances.
Based on the Project Cost expenditures as included within the cash flow exhibit
(Table 3), the District is projected to accumulate sufficient funds by the year
2043 to pay off all Project cost liabilities and obligations. The projected closure
is based on the various assumptions noted in this Plan and will vary dependent
on actual Project Costs incurred and the actual amount of tax increments
collected.
Tax Incremental District No. 44 Project Plan City of Oshkosh
Prepared by Ehlers Page | 30
Table 3 – Cash Flow
$6,985,000 Dated Date: $7,900,000 $2,835,000
Year Issue Total1 Principal Est. Rate Interest Issue Total1 Issue Total1 Year
2024 0 000 20,00020,000 (20,000) (20,000)02024
2025 0 000 10,00010,000 (10,000) (30,000)02025
2026 89,831 6,985,000 7,074,831 0 0 0 6,388,000 127,760 10,300 6,526,060 548,771 518,771 6,950,000 2026
2027 335,107 335,107 469,125 0 0 10,609 479,734 (144,627)374,144 6,950,000 2027
2028 777,284 7,900,000 8,677,284 459,375 0 0 7,745,900 272,050 154,918 10,927 8,643,170 34,115 408,258 33,276,844 2028
2029 1,211,390 1,211,390 477,063 533,250 533,250 0 423,986 11,255 1,445,554 (234,164)174,094 32,677,858 2029
2030 1,651,561 2,835,000 4,486,561 581,600 355,500 355,500 0 2,779,000 578,046 55,580 11,593 4,361,319 125,242 299,336 34,644,812 2030
2031 2,036,880 2,036,880 583,213 375,000 4.500% 347,063 722,063 264,675 712,908 11,941 2,294,798 (257,919)41,417 33,176,904 2031
2032 2,432,962 2,432,962 584,150 395,000 4.500% 329,738 724,738 265,938 851,537 12,299 2,438,660 (5,699)35,719 31,465,367 2032
2033 2,779,923 2,779,923 584,413 415,000 4.500% 311,513 726,513 264,300 972,973 12,668 2,560,866 219,057 254,775 29,592,394 2033
2034 3,066,655 3,066,655 584,000 430,000 4.500% 292,500 722,500 267,325 1,073,329 13,048 2,660,202 406,453 661,228 27,579,065 2034
2035 3,287,772 3,287,772 582,913 450,000 4.500% 272,700 722,700 265,013 1,150,720 13,439 2,734,784 552,988 1,214,216 25,448,345 2035
2036 3,443,275 3,443,275 581,150 475,000 4.500% 251,888 726,888 267,363 1,205,146 13,842 2,794,389 648,886 1,863,102 23,213,199 2036
2037 3,598,777 3,598,777 583,600 495,000 4.500% 230,063 725,063 264,375 1,259,572 14,258 2,846,867 751,910 2,615,012 20,878,627 2037
2038 3,598,777 3,598,777 580,263 515,000 4.500% 207,338 722,338 266,050 1,259,572 14,685 2,842,907 755,870 3,370,882 18,499,054 2038
2039 3,598,777 3,598,777 581,138 540,000 4.500% 183,600 723,600 267,275 1,259,572 15,126 2,846,711 752,067 4,122,949 16,064,482 2039
2040 3,598,777 3,598,777 581,113 565,000 4.500% 158,738 723,738 268,050 1,259,572 15,580 2,848,052 750,726 4,873,675 13,574,910 2040
2041 3,598,777 3,598,777 580,188 590,000 4.500% 132,750 722,750 263,488 1,259,572 16,047 2,842,044 756,733 5,630,408 11,035,338 2041
2042 3,598,777 3,598,777 583,250 620,000 4.500% 105,525 725,525 263,588 1,259,572 16,528 2,848,463 750,314 6,380,723 8,430,766 2042
2043 3,598,777 3,598,777 580,300 650,000 4.500% 76,950 726,950 263,238 1,259,572 17,024 2,847,084 751,694 7,132,416 5,766,194 2043
2044 3,598,777 3,598,777 581,338 675,000 4.500% 47,138 722,138 267,325 1,259,572 17,535 2,847,907 750,870 7,883,287 3,036,622 2044
2045 3,598,777 3,598,777 547,038 710,000 4.500% 15,975 725,975 265,850 1,259,572 25,000 2,823,435 775,343 8,658,629 272,050 2045
Totals 53,501,635 17,720,000 71,221,635 10,685,225 7,900,000 3,852,225 11,752,225 3,983,850 16,912,900 18,576,844 338,258 313,704 62,563,006 Totals
Notes:
1Debt service payment estimates assume a 4.5% tax‐exempt rate.
2Cost estimates for public improvements provided by City engineering department on 6‐21‐2024.LEGEND:
3Placeholder for purposes of establishing economic feasibility only. Equal to 35% of tax increment generated from 2028 ‐ 2045.END OF EXP. PERIOD
2026 G.O.
Notes
2028 G.O.
Notes
2030 G.O.
Notes
PROJECTED CLOSURE YEAR
Annual Cumulative
Projected Revenues
Total
Revenues
Balances
Public Imp.2
Develop.
Incentives3
2028 G.O. Notes
$7,900,000
06/01/28 Total
Expenditures
Liabilities
Outstanding
City of Oshkosh, Wisconsin
Tax Increment District No. 44
Cash Flow Projection
Tax
Increments
Proceeds of LT
Debt
Planning &
Admin.
Projected Expenditures
Financing
Costs
Tax Incremental District No. 44 Project Plan City of Oshkosh
Prepared by Ehlers Page | 31
SECTION 10:
Annexed Property
A tax incremental district cannot include annexed territory unless at least three
years have elapsed since the annexation, or certain other requirements are met.
None of the property within the proposed District boundary was annexed
during the past three years.
SECTION 11:
Estimate of Property to Be Devoted to Retail Business
Pursuant to Wis. Stat. § 66.1105(5)(b), the City estimates that less than 35% of
the territory within the District will be devoted to retail business at the end of
the District’s maximum expenditure period.
SECTION 12:
Proposed Changes of Zoning Ordinances, Master Plan,
Map, Building Codes and City Ordinances
Zoning Ordinances
The proposed Plan is in general conformance with the City’s current zoning
ordinances. Individual properties may require rezoning at the time of
development.
Master (Comprehensive) Plan and Map
The proposed Plan is in general conformance with the City’s Comprehensive
Plan identifying the area as appropriate for a combination of commercial,
industrial, and residential uses.
Building Codes and Ordinances
Development within the District will be required to conform to State Building
Codes and will be subject to the City's permitting and inspection procedures.
The proposed Plan conforms to all relevant State and local ordinances, plans,
and codes. No changes to the existing regulations are proposed or needed.
Tax Incremental District No. 44 Project Plan City of Oshkosh
Prepared by Ehlers Page | 32
SECTION 13:
Statement of the Proposed Method for the Relocation of
any Persons to be Displaced
Should implementation of this Plan require relocation of individuals or business
operations, relocations will be handled in compliance with Wis. Stat. Chapter
32 and Wis. Admin. Code ADM 92.
SECTION 14:
How Creation of the Tax Incremental District Promotes
the Orderly Development of the City
Creation of the District and the implementation of the projects in its Plan will
promote the orderly development of the City by creating opportunities for
mixed use development, providing necessary public infrastructure
improvements, and providing appropriate financial incentives for private
development projects. Through use of tax increment financing, the City can
attract new investment that results in increased tax base. Development will
occur in an orderly fashion in accordance with approved plans so that the
Projects will be compatible with adjacent land uses. Development of new uses
in the District will add to the tax base and will generate positive secondary
impacts in the community such as creation of commercial and industrial space,
housing units, employment, and a general increase in commerce and economic
activity in the District and City.
Tax Incremental District No. 44 Project Plan City of Oshkosh
Prepared by Ehlers Page | 33
SECTION 15:
List of Estimated Non-Project Costs
Non-project costs are public works projects which only partly benefit the
District. Costs incurred that do not benefit the District may not be paid with tax
increments. Examples of non-project costs are:
A public improvement made within the District that also benefits
property outside the District. That portion of the total Project Costs
allocable to properties outside of the District would be a non-project
cost.
A public improvement made outside the District that only partially
benefits property within the District. That portion of the total Project
Costs allocable to properties outside of the District would be a non-
project cost.
Projects undertaken within the District as part of the implementation of
this Project Plan, the costs of which are paid fully or in part by impact
fees, grants, special assessments, or revenues other than tax increments.
No improvements to be made within the District will benefit property outside
the District. Furthermore, there will be no improvements made outside the
District that will only partially benefit the District.
Tax Incremental District No. 44 Project Plan City of Oshkosh
Prepared by Ehlers Page | 34
SECTION 16:
Legal Opinion Advising Whether the Plan is Complete
and Complies with Wis. Stat. § 66.1105(4)(f)
Legal Opinion Found on Following Page.
Tax Incremental District No. 44 Project Plan City of Oshkosh
Prepared by Ehlers Page | 35
INSERT LEGAL OPINION
Tax Incremental District No. 44 Project Plan City of Oshkosh
Prepared by Ehlers Page | 36
SECTION 17:
Calculation of the Share of Projected Tax Increments
Estimated to be Paid by the Owners of Property in the
Overlying Taxing Jurisdictions
The following projection is provided to meet the requirements of Wis. Stat. §
66.1105(4)(i)4.
Revenue
Year
Winnebago
County City of Oshkosh
Oshkosh Area
School District
Fox Valley
Technical Total
Revenue
Year
2026 14,958 35,194 36,693 2,985 89,831 2026
2027 55,801 131,288 136,882 11,136 335,107 2027
2028 129,432 304,525 317,499 25,829 777,284 2028
2029 201,718 474,598 494,819 40,254 1,211,390 2029
2030 275,015 647,049 674,616 54,881 1,651,561 2030
2031 339,177 798,009 832,008 67,686 2,036,880 2031
2032 405,132 953,186 993,796 80,847 2,432,962 2032
2033 462,907 1,089,118 1,135,520 92,377 2,779,923 2033
2034 510,653 1,201,454 1,252,642 101,905 3,066,655 2034
2035 547,473 1,288,084 1,342,962 109,253 3,287,772 2035
2036 573,367 1,349,006 1,406,481 114,420 3,443,275 2036
2037 599,262 1,409,929 1,469,999 119,587 3,598,777 2037
2038 599,262 1,409,929 1,469,999 119,587 3,598,777 2038
2039 599,262 1,409,929 1,469,999 119,587 3,598,777 2039
2040 599,262 1,409,929 1,469,999 119,587 3,598,777 2040
2041 599,262 1,409,929 1,469,999 119,587 3,598,777 2041
2042 599,262 1,409,929 1,469,999 119,587 3,598,777 2042
2043 599,262 1,409,929 1,469,999 119,587 3,598,777 2043
2044 599,262 1,409,929 1,469,999 119,587 3,598,777 2044
2045 599,262 1,409,929 1,469,999 119,587 3,598,777 2045
Totals 8,908,989 20,960,874 21,853,912 1,777,860 53,501,635