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HomeMy WebLinkAbout3.19.25 Redevelopment Authority Full Agenda *Items marked with an asterisk also require Common Council approval. If anyone requires reasonable ADA accommodations, please contact the office of Community Development at hschueler@oshkoshwi.gov or (920) 236-5055. REDEVELOPMENT AUTHORITY of the City of Oshkosh c/o Community Development Department 215 Church Ave., PO Box 1130 Oshkosh, WI 54902-1130 (920) 236-5055 http://www.oshkoshwi.gov KELLY NIEFORTH Executive Director MATT MUGERAUER Chairperson REDEVELOPMENT AUTHORITY OF THE CITY OF OSHKOSH March 19, 2025 4:00pm City Hall Room 404 I. Roll Call II. Approve September 18, 2024 Meeting Minutes III. Presentation from Mellenium LLC on Status of Proposed Development, The Meridian IV. MOTION TO GO INTO CLOSED SESSION: The Redevelopment Authority may convene into Closed Session to discuss bargaining options, strategy, parameters, and terms related to the negotiation of an agreement for the acquisition and redevelopment of the following parcel 0300780100 to Mellenium LLC, pursuant to Section 19.85(1)(e) of the Wisconsin State Statutes where competitive bargaining reasons require a closed session. V. Res 25-01 Approve Extension Request for Option to a Purchase RDA Lot Located Between West 7th Avenue and West 8th Avenue West of South Main Street, Parcel 0300780100; Mellenium LLC ($1.00) VI. RDA-owned Infill Lot Options i. Provide Update on Status of RDA-Approved Options VII. Housing Update i. Provide Update on City Housing Initiatives VIII. Executive Director Report – Next Meeting May 21, 2025 __________________________________ Redevelopment Authority Minutes 1 September 18, 2024 REDEVELOPMENT AUTHORITY MEETING MINUTES September 18, 2024 PRESENT: Susan Panek, Todd Hutchison, Matt Mugerauer, Meredith Scheuermann, Adam Bellcorelli EXCUSED: Jason Lasky, Thomas Belter STAFF: Kelly Nieforth, Community Development Director, Mark Lyons, Planning Services Manager; John Zarate, Economic Development Specialist Mugerauer called the meeting to order at 4:00 p.m. Roll call was taken and a quorum declared present. Approve August 5, 2024 Meeting Minutes Motion by Scheuermann to approve the March 20, 2024 Meeting minutes. Seconded by Bellcorelli. Mr. Hutchinson said that his name was in the minutes as making a motion to approve, but he hadn’t been at the previous meeting. Ms. Nieforth said that that will be corrected. Motion carried 5-0. 24-11 Public Hearing: Approve Spot Blight Designation for Property Located at 929 Winnebago Avenue Motion by Bellcorelli to approve 24-11. Seconded by Scheuermann. Ms. Nieforth stated that staff is at the point where they would like to spot blight this property, as the City will be acquiring the former Washington Elementary School from the Oshkosh Area School District. The City is looking to demolish the school and construct 19 single-family homes in a workforce price point, which would be residents who make 80% to 120% of the area median income. This is a partnership project with Habitat for Humanity. Habitat will be constructing nine homes, and the City will be constructing 10 homes. __________________________________ Redevelopment Authority Minutes 2 September 18, 2024 One of the first steps to use additional funds through the Community Development Block Grant through HUD is to blight the property. The City worked closely with some consultants to do a phase one and used previous reports to detect findings and determinations of why it is blighted. Staff believes that redevelopment of the site is the best use for the site long-term for single-family houses. Ms. Scheuermann asked is there anything between blight, like is it blighted or not blighted, are those they only two. Ms. Nieforth said that is correct. Ms. Scheuermann said there's misconceptions of a building looking old but otherwise okay, and other things that is blight, they're falling down, and that kind of thing. Ms. Nieforth replied that state statute does list a lot of reasons why something could be blight. Using the term “blight” can be subjective. Individuals can come up with their own conclusion of why it could be blight. In this situation, staff did include the facilities report that the school district prepared on all of their different schools, and there were numerous issues. It is also currently vacant, and that is an indicator of blight or future blight. Mr. Lyons said that one of the statute reasons for blight is configuration and use of an existing structure. And in this case, the school district tried to sell it for reuse of the building, but given the style of construction configuration it is, it's just not usable for anything but a school. Ms. Panek said that she likes the idea that it’s a private-public partnership. Ms. Nieforth said that staff and RDA partners a lot with Habitat and hope to do more in the future. The City provides them quite a few of our infill lots for free sometimes, or a dollar. Ms. Panek said staff said that the last time the RDA talked about this project, the housing style was discussed, and the City looked at the neighborhood to make sure that the style of the homes was going to fit that neighborhood. Mr. Lyons said that is correct. The City is almost completed with the housing design book that staff has been working on. The City have all the drafts, some final minor tweaks needed. Within the next week or so, the City should have our fully developed final designs for our infill housing design book. The goal here is to utilize those designs as part of this. __________________________________ Redevelopment Authority Minutes 3 September 18, 2024 Ms. Panek asked who will be constructing the homes. Ms. Nieforth responded it is something that will most likely have a request for proposals, a release for it to receive a proposal for a master builder, somebody that would come in and build all of the city homes. Mr. Hutchinson asked if the city buying it from the school district, or are they contributing? Ms. Nieforth replied that the city and Habitat together are purchasing it for $75,000 from the school district. Mr. Hutchinson asked if staff knows how much it's going to cost for demolition. Ms. Nieforth responded that based on some other estimates that the City has seen, from the demolition of Merrill School, the City has budgeted about $400,000 for that. It also includes asbestos inspections and removal. Mr. Lyons said that the key reason staff is looking to blight it is to unlock sources for the network and other funds. Mr. Hutchinson asked if benefit of us doing it because the school district doesn't have access to those kinds of funds. Ms. Nieforth said that is correct. Mr. Hutchinson said that it does feel like we're letting the school district off the hook on this property. Mayor Mugerauer said that its public property staying public so that we can achieve an objective. Ms. Nieforth said that the city wouldn’t want to see the site sit vacant. Mayor Mugerauer said that it was a major concern in the neighborhood meetings was the possibility of vandalism or a becoming a depilated building. Mr. Lyons said that with having the neighborhood meetings, the overall theme from everyone was the ability to build single family homes. It's going to blend best into the neighborhood. It's a tall order to ask from a private developer, given the need to remove the school. __________________________________ Redevelopment Authority Minutes 4 September 18, 2024 Ms. Panek asked what the approximate cost would be to build these homes and how much would they sell for. When they do sell, it’s assuming they would go back on the tax roll. Ms. Nieforth said that the property is currently exempt so the city will be converting exempt property to taxable. Mr. Lyons said that staff does not have exact numbers yet. Staff is still working on the civil engineering costs to get them shovel-ready for building them. The goal is to try to develop homes that are appropriate for that area, the City still has to finish the cost estimates of what construction will be, and that's partly why working with a master builder is going to be important to try to see how the City can get those costs as low as possible to make sure the City is achieving those goals of workforce housing. Mr. Bellcorelli asked if it will be similar to Grove Street. Mr. Lyons said that it will be different. Motion carried 5-0. 24-12 Approve Lease Agreement with Boat Works LLC Motion by Hutchinson to approve 24-12. Seconded by Scheuermann. Ms. Nieforth said the RDA has property here on the former Boatworks site, right next to the former sanitation garage. So, this is a lease agreement with Boatworks, LLC. That's the LLC that Chet Wesenberg and Tim Hess are part of. They are the developers that are proposing to develop the 52 residential units within two buildings on those two parcels. And as part of that, they have requested that the city and the RDA enter into a lease agreement to lease them the property during construction. once they construct the property and receive a case closure approval from the DNR, then the City will transfer the property to them. This is something that the City frequently assist with on redevelopment projects along the river or on contaminated sites. The reason for is because as they are constructing, there is contamination on site, but as part of their construction, they will be capping some of the contaminated areas with different aspects of their development, including the building, parking lot, walkways, landscaping. It minimizes their exposure to potentially finding additional contamination and issues on site if the RDA or the city have that ownership. It’s really a __________________________________ Redevelopment Authority Minutes 5 September 18, 2024 way to protect the developer, help them and protect the city too. The City enters into the lease agreement and it's about six months or so after the construction is completed and DNR comes out and approves that the developer followed their remedial action plan and capped in all the appropriate places. Then it will be transferred over to the developer and then it will be back on the tax roll. At council next week, staff will be bringing it forward for the city parcel where the former sanitation garage is and that we're also bringing the development agreement forward as part of that also for TIF assistance. Ms. Panek asked if they will purchase the property. Ms. Nieforth said that is correct. Ms. Panek asked if there is any monitoring of the contaminants after the building is completed. Ms. Nieforth said there is and that they will be responsible for that. It is what is called a remedial action plan. This is what you have to do as part of your development to cap the contamination. If they follow that, there'll be some minimal monitoring and reports that they'll have to do. But really if they follow the plan, it should be good. Fortunately for this site, there was actually very limited contamination. There's a small little strip right in the lagoon that does have a deed restriction on it placed on by the DNR. I believe there was some petroleum contamination there. The RDA is actually just going to hold onto it, it will not be disturbed. It's adjacent to our city property for us to manage our river walk. Taking that liability off of their plate really helped them move forward and help give some assurance to their lender also to fund this project and give them a loan. Ms. Panek asked if this is going to include continual monitoring, like even five years or ten years after do they test. Ms. Nieforth said it depends on what type of contaminants they find. It was minimal here since it was a marina and an office. It was petroleum-based contaminants that they found. Ms. Scheuermann asked if there is a time limit for construction. Ms. Nieforth said that as part of the TIF development agreement, completion dates are listed in there. In the TIF developer agreement, there is a date for both phases to be constructed by June 30th, 2027. There are also start dates that they have to start __________________________________ Redevelopment Authority Minutes 6 September 18, 2024 construction on the first phase and the second phase date. It is also part of the lease agreement too. Mr. Hutchinson asked the reason for the 50 years in the language. Ms. Nieforth said it is standard language for all lease agreements. It is also what the DNR suggested and is best for worst case scenarios. Mr. Bellcorelli asked if it is normal to have so much water in this type of plot. Ms. Nieforth said that along the river, the different parcels show they are also going into the water. Sometimes there was land there at one time when the parcel was created, and in other situations they actually used to put the parcel lines in the water. Mr. Bellcorelli asked if it was expected to be maintained as water. Ms. Nieforth said that it will remain water. Mr. Bellcorelli said that there are three or four different high-tension wires and if this is something that will need to be moved. Ms. Nieforth said that no, they are the property of ATC and they are high voltage lines. Staff is working with ATC, as they do not have easements for these areas. ATC has come to the city and the RDA requesting easements. From our standpoint, staff is working on making sure that the easement language allows us to develop our RDA lots, but at the same time, making sure that there's protections in place for what ATC needs to have for the requirements that they have to follow. It is a work in progress and developers know, and their building is not underneath the lines. Staff made sure that that's just landscaping. Ms. Panek asked if the agreement about what would happen if they pull out of the deal. Ms. Nieforth said that it is covered in the development agreement and the options. For example, if they just build phase one and they don't do phase two, staff would still work with them to try to get that case closure for the first phase. The City would hopefully transfer one parcel to them where their building is. The other parcel would probably be brought back to RDA, and then staff would submit another RFP to get something else over there on that location. Motion carried 5-0. Executive Director Report __________________________________ Redevelopment Authority Minutes 7 September 18, 2024 • Morgan Door-Jeld-Weld This has been progressing well and the building is going up. Ms. Panek asked if for the ThedaCare project, if there was any push back for the third level. Mr. Lyons said that there weren’t any concerns specifically about the third floor. Mayor Mugerauer asked if because there would be a third floor if there would need to be more parking. Mr. Lyons said that they will come back with finalized plans for discussion. One of the things that was discussed during the process was making sure there was no access to the west through the neighborhood. It continues to function only off accesses directly to the south, trying to mitigate impacts on that neighborhood to the west. • Mill on Main They are close to finalizing their financing and things seem to be going in the right direction. • Housing Plan Commission discussed the Corridor plan the previous night and the General Development Plan and Specific Implementation Plan will go to Council next week. The city did purchase property just off of Jackson Street on Farmington Avenue to add more single family homes. • Infill Lots There was a few infill lots purchases for single family homes about a year ago, and they have been completed. They include a single family residence and an accessory dwelling unit on Wisconsin Street, completed by Mathusek. Another one was completed by Vienola Properties on Jefferson Street. They took advantage of the New Homes in Your Neighborhood Grant which is a $25,000 grant for developers that redevelop single family homes on RDA lots. Next Meeting is November 20, 2024, at 4:00 p.m. Adjournment There was no further discussion. The meeting adjourned at approximately 4:25 p.m. (Scheuermann, Panek) __________________________________ Redevelopment Authority Minutes 8 September 18, 2024 Respectfully Submitted, Kelly Nieforth Executive Director *Items marked with an asterisk also require Common Council approval. REDEVELOPMENT AUTHORITY OF THE CITY OF OSHKOSH, WISCONSIN MARCH 19, 2025 25-01 RESOLUTION (APPROVED_______LOST_______LAID OVER_______WITHDRAWN_______) PURPOSE: APPROVE EXTENSION REQUEST FOR OPTION TO PURCHASE A REDEVELOPMENT AUTHORITY LOT LOCATED BETWEEN WEST 7TH AVENUE AND WEST 8TH AVENUE WEST OF SOUTH MAIN STREET, PARCEL 0300780100; MELLENIUM LLC ($1.00) WHEREAS the Redevelopment Authority of the City of Oshkosh approved an option to purchase a Redevelopment Authority lot between West 7th Avenue and West 8th Avenue west of South Main Street, parcel 0300780100, expiring on July 15, 2025; and WHEREAS Mellenium, LLC requests an extension on the option to purchase a Redevelopment Authority lot between West 7th Avenue and West 8th Avenue west of South Main Street, parcel 0300780100. BE IT RESOLVED by the Redevelopment Authority of the City of Oshkosh that the request for an extension on the option to purchase by Mellenium Construction for the property generally located between West 7th Avenue and West 8th Avenue, West of South Main Street, Parcel Number 0300780100, is hereby accepted and the proper officials are hereby authorized and directed to execute any and all documents necessary for purposes of same. BE IT FURTHER RESOLVED that the terms of said offer to purchase agreement shall include, but not be limited to: 1) Schedule pre-submittal meeting with City of Oshkosh staff for conceptual plan review prior to May 1, 2025. 2) Finalize and submit to the City of Oshkosh Department of Community Development any request for development support, including identification of any financial gaps by June 30, 2025. 3) Obtain conceptual land use approval by June 30, 2025. 4) Submit Wisconsin Housing Economic Development Authority (WHEDA) Housing Tax Credit (HTC) project submission by June 30, 2025. 5) Finalize Developer Agreement with the City of Oshkosh (if required) by September 30, 2025. 6) Purchase land from Oshkosh Redevelopment Authority by October 31, 2025. 7) Begin Construction by May 1, 2026 or as otherwise established in the Developers Agreement. 8) Construction substantially completed by December 31, 2027 or as otherwise established in the Developers Agreement. City Hall, 215 Church Avenue P.O. Box 1130 Oshkosh, WI 54903-1130 920.236.5000 http://www.oshkoshwi.gov TO: Redevelopment Authority FROM: Kelly Nieforth Community Development Director DATE: March 19, 2025 RE: Res 25-01 Approve Extension Request for Option to a Purchase RDA Lot Located Between West 7th Avenue and West 8th Avenue West of South Main Street, Parcel 0300780100; Mellenium LLC ($1.00) BACKGROUND The RDA granted an option to purchase to Mellenium, LLC on August 5, 2024 that expired on July 15, 2025 which was the deadline for the developer to purchase the property. The Option period that RDA approved included the following: 1) Schedule pre-submittal meeting with City of Oshkosh staff for conceptual plan review prior to September 15, 2024. 2) Finalize and submit to the City of Oshkosh Department of Community Development any request for development support, including identification of any financial gaps by October 1, 2024. 3) Obtain conceptual land use approval by November 26, 2024. 4) Submit Wisconsin Housing Economic Development Authority (WHEDA) Housing Tax Credit (HTC) project submission by December 6, 2024. 5) Submit Wisconsin Housing Economic Development Authority (WHEDA) Housing Tax Credit (HTC) conceptual project submission by March 21, 2025. 6) Finalize Developer Agreement with the City of Oshkosh (if required) by June 1, 2025. 7) Purchase land from Oshkosh Redevelopment Authority by July 15, 2025. 8) Begin Construction by September 1, 2025 or as otherwise established in the Developers Agreement. ANALYSIS The developer is now requesting an extension on the option until October 31, 2025. None of the deadlines listed above in the original option have taken place so the developer is requesting a new timeframe to meet each benchmark below: 1) Schedule pre-submittal meeting with City of Oshkosh staff for conceptual plan review prior to May 1, 2025 (previously September 15, 2024) City Hall, 215 Church Avenue P.O. Box 1130 Oshkosh, WI 54903-1130 920.236.5000 http://www.ci.oshkosh.wi.us 2) Finalize and submit to the City of Oshkosh Department of Community Development any request for development support, including identification of any financial gaps by June 30, 2025. (Previously October 1, 2024) 3) Obtain conceptual land use approval by June 30, 2025. (Previously November 26, 2024) 4) Submit Wisconsin Housing Economic Development Authority (WHEDA) Housing Tax Credit (HTC) project submission by June 30, 2025. (Previously March 21, 2025) 5) Finalize Developer Agreement with the City of Oshkosh (if required) by September 30, 2025. (Previously June 1, 2025) 6) Purchase land from Oshkosh Redevelopment Authority by October 31, 2025. (Previously July 15, 2025) 7) Begin Construction by May 1, 2026 or as otherwise established in the Developers Agreement. (Previously September 1, 2025) 8) Construction substantially completed by December 31, 2027 as otherwise established in the Developers Agreement. (Previously December 31, 2026) or RECOMMENDATION The Redevelopment Authority grants an extension on the option for Mellenium, LLC until October 31, 2025. Respectfully Submitted, Kelly Nieforth Community Development Director Address (Full) County (Dropdown) Tax Credit Type (Dropdown)Census Tract Set Aside (Dropdown)Family or Senior (Dropdown) Number of Units Scorer Areas of Economic Opportunity 27 8 Projects scoring in Category A.4 Cannot Score Points here Appendix R.1 - Median Income in the Census Tract 8-10 0 Census Tract 12 Appendix R.1 Appendix R.2 - School District 3 - 5 0 School Not Listed Appendix R.2 Appendix R.3 - Rent Burden 3 - 5 3 Census Tract 12 Appendix R.3 Access to services and amenities 7 5 Enter Name of Amenity, Distance, and Address Rural Sites: 2.0 mile radius, Small Urban: 1.5 mile radius, Tribal Sites: 4 mile radius, Other Sites: 1.0 mile radius; maximum of 7 pointsFull Service Grocery Store 2 2 Oshkosh Food Co-op, 155 Jackson St #101, Oshkosh, WI 54901 - 0.7 mile Must provide meat, produce, and dairy; convenience store does not qualify Public Elementary, Middle, or High School 1 1 Jefferson Elementary School, 244 W 11th Ave, Oshkosh, WI 54902 - 0.5 mile Must be a public school; can only score if family project Senior Center 1 0 FAMILY Can only score if elderly project Full Service Medical Clinic or Hospital 1 1 Three Waves Clinic and Wellness Center, 292 Ohio St, Oshkosh, WI 54902 - 1.2 mile Cannot be a specialty medical clinic Library 1 1 Oshkosh Public Library, 106 Washington Ave, Oshkosh, WI 54901 - 0.7 mile Cannot be a university library, private library or mobile library Public Park 1 0 South Park, 659 W South Park Ave, Oshkosh, WI 54902 - 1.1 mile Must have playground equipment, athletic facilities, or hiking / biking trails Job Training/Continuing Ed/Community College 1 0 Fox Valley Tech | Oshkosh Riverside Campus, 150 N Campbell Rd, Oshkosh, WI 54902 - 1.4 mile Must be available to tenant base 0 2 points for (1) properties in a QCT that have a Concerted Community Revitalization Plan (CCRP) that specifically addresses the need for affordable and/or rental housing in the area of the proposed HTC project, or (2) properties located on federally designated Tribal lands. QCT MapNeighborhood PlanBT Write Up 0 1 point for (1) properties in a QCT that have a Concerted Community Revitalization Plan (CCRP) plan that does not specifically address the need for affordable and/or rental housing in the area of the proposed LIHTC project QCT MapNeighborhood PlanBT Write Up Workforce Housing Communities 8 1 Up to 4 points per item; Appendix V A. Top Job Centers 1 - 4 1 Census Tract 12 Appendix V B. Net Job Growth 1 - 4 0 Census Tract 12 Appendix V Serves Large Families or Seniors 5 5 New Construction / Adaptive Reuse: units must be low-income OR have committed PBV/other rental subsidies Units with PBV/other subsidy must be reflected as 60%CMI on the unit mix page Serves Large Families 5 5 New Construction / Adaptive Reuse: units must be low-income OR have committed PBV/other rental subsidies Units with PBV/other subsidy must be reflected as 60%CMI on the unit mix page 5-10% of LI units 1 0 16 # of 3 bedroom (or larger) low income units 11-15% of LI units 3 0 100 Total # of Units Market Study & Application must identify project as Family 16% or more of LI Units 5 5 16.00% Serves Seniors 0 # of Age Restricted Units 100 Total # of Units 0.00% Calculations New construction with subsidies CAN score here: they count as 50% units, but add as 60% units in unit mix page Link cells in operating assumptions tab here:15.04 # of 50% AMI Units…and PBV units 328.85 # of 40% AMI Units 15 10.65 # of 30% AMI Units (or lower)1534.54 Check this number - if way over 35 points, could adjust the unit mix100Total Units Link cells in operating assumptions tab Points are awarded for providing supportive services to the residents. Provide any combination of 30% AMI units and rental assistance for the targeted units Appendix S or Appendix TRental Subsidy commitment 14 # of Supportive Units (Must be 30% CMI or PBVs) 100 Total Units Veterans Housing 3 3 Link cells in operating assumptions tab Points will be awarded to development intending to provide services designed to address the needs of Veterans. 1-5% of LI units 1 0 11 # of Veterans Units at 60% AMI or lower 6-10% of LI units 2 0 100 Total # of Units 11-100% of LI Units 3 3 11.00% Energy Efficiency and Sustainability 25 15 10 10 Enterprise 2020 Green Communities - Certification Advanced Certifications (Use Dropdown)Certifying Letter from Architect 20 0 Stretch Goal - Net Zero Certifications (Use Dropdown)Certifying Letter from ArchitectIf applicable, preapproval letter from WHEDA 4 0 Geothermal HVAC System A Geothermal HVAC System serving the entire building 2 0 Solar Solar that offsets 20% or more of the total building annual load OR Solar that offsets 70%-80% of common area annual load 8 0 Centralized Geothermal HVAC with Solar A Centralized Geothermal HVAC System with Solar that offsets at least 20% of the annual load 10 0 Advanced Certifications (Use Dropdown)Certifying Letter from Architect 20 0 Stretch Goal - Net Zero Certifications (Use Dropdown)Certifying Letter from ArchitectIf applicable, preapproval letter from WHEDA Public Transportation 5 5 Main St. & 7th Ave, Stop ID: 121, 210 feet Points will be awarded to developments in which any portion of the site is located no more than one half (0.5) of a mile from a regularly scheduled local bus stop. Projects in areas eligible for the Rural Set-Aside may qualify for points by submitting evidence of an "on call" transportation program that provides users a choice of local destinations at a low cost. Provide a map showing that the site is no more than one half miles from the bus stop and a schedule showing the frequency of the bus service or detailed information on availability, cost, and destinations of the "on call" transportation program. C.2 Universal Design 13 13 See MFA for additional details Certifying Letter from Architect Developments must be BOTH (1) family and (2) single family detached style construction 100% of the development is intended for eventual resident ownership Must be located in a QCT Breakdown of costs, basis and LIHTC attributable to CSF Must include a job/skill training center or employment counseling center (or similar facilities)MOU between owner and Operator of CSF Show need in Market Study Letter with Permissive Zoning Additional Amenities Score 2 2 In-unit internet at no cost to residents 1 1 On-site community room dedicated for residents 1 1 0 New Construction (Max 20 Points) Rehabilitation (Max 20 Points) C.1 Cannot score points in Category A.1 (Areas of Economic Opportunity)Points awarded for apps that propose acq/rehab of existing SFH, duplex or four-plex housing as part of a targeted, city-supported plan to stabilize neighborhoods due to vacant properties/foreclosure/existing tribal housing. Minimum 24 units and $25,000 per unit hard costs. Additional requirements located in MFA New construction allowed if building will be demolished and is replacing like housing. City or Tribal Support Letter including description of neighborhood plan, details of financial support and support for proposed property clustering. Building Design Score 35B.2 Serves Lowest-Income Residents C.3 Eventual Resident Ownership Resident Homeownership Plan A.2 Lower- Income Areas 2 A.3 3 B.4 10B.3 Supportive Housing 10 MOU with County or Tribal Veterans Service Office or a Veteran-specific Service Provider. MOU must describe a referral and outreach system to connect potential Veteran residents with local or State Veteran-specific services and resources. Project is required to hold unit open for a minimum of 30 days or until local partner finds a person to lease the unit. Affidavit will be executed and filed with property manager attesting to 30 day marketing period. Tenants Served Score 5 0> 50% of units are senior age-restricted A.4 Rehab & Neighborhood Stabilization 25 0 C.4 Community Service Facilities 2 0 Location Score Cover page, map, picture, contact information, documentation Not in a QCT A.1 2025 WHEDA SCORING 4% AND 9% Project Name Oshkosh Site 0 W 8th Street, Oshkosh, WI 54902 Developer Name Jarrett English 12.00 Winnebago County 100 Points Taken Construction Type General 4% Family NotesCategoryPotential Points Requirements Documentation Needed B.1 New Construction C.5 35 Credit Efficiency 36 36 <$12,837 36 36 1,200,000 Annual Credits Requested $12,838 - $13,649 34 0 112.60 Total Weighted Units $13,650 - $14,460 32 0 10,657.19 Credit Leverage Per Unit $14,461 - $15,272 30 0 $15,273 - $16,084 28 0 $15,273 - $16,085 26 0 >$16,086 0 0 Development Team 6 2 WHEDA will use the higher of total points for primary developer individually or average of total points for primary developer and co-developer Primary Developer 2 A. Emerging Developers 2 2 See Summary of QAP changes for definition of emerging developer1 Point for at least a 24% stake in ownership, cash flow and voting rights2 Points for at least a 49% stake in ownership, cash flow and voting rights B. WHEDA Evaluation of Capacity 2 0 Make an assumption based on previous scoring; or if new developer 0 Delivery of prior LIHTC properties & timely/accurate completion of prior LIHTC apps. WHEDA will score this. C. Nonprofit Developers 2 0 NFP Developer & Owner (2 pts). Appendix B is applicable. Successful respondent to a competitive RFP/RFQ Cannot be an identity of interest between issuer and awardee Sites located on Federally-Designated Tribal Land 132 Self Score Points Available Notes 9 37A.1 Areas of Economic Opportunity 8 27A.2 Lower- Income Areas 0 2A.3 Workforce Housing Communities 1 8 A.4 Rehab & Neighborhood Stabilization 0 2552.54 53B.1 Serves Large Families & Serves Seniors 5 5 B.2 Serves Lowest-Income Residents 35 35B.3 Supportive Housing 10 10B.4 Veterans Housing 3 33045 C.1 Energy Efficiency and Sustainability 15 25C.2 Universal Design 13 13C.3 Eventual Resident Ownership 0 3C.4 Community Service Facilities 0 2C.5 Additional Amenities Score 2 24044D.1 Credit Efficiency 36 36 D.2 Development Team 2 6D.3 Site Characteristics 2 2131.54 179 D.1 Total Points D.2 Scoring Summary D.3 Developer Experience FormsDeveloper ResumeDeveloper Info ReleaseDeveloper Experience Certification Total Site Characteristics 2 2 B. Tenants Served Score A. Locational Scoring C. Building Design Score D. Development Process Score Development Process Score Update for Oshkosh RDA Board Regarding The Meridian Development Note from the Developer, I would like to thank the Oshkosh RDA board along with Kelly, John, and Mark for your patience and assistance in this process. I want to assure you all that the project is still moving forward. Though we were not able to be a part of the competitive LIHTC process at the end of 2024 we have multiple viable paths to completing the project financing and bringing the development to fruition. We are in the process of solidifying the partnerships to make it happen. Despite the uncertainty regarding federal level funding mechanisms, we have a project that we are confident equity partners will be vying to invest in. Real Estate is often considered a safe haven for investment when markets are volatile- with housing demand not letting up, we expect that it will continue to be as such. I am submitting an updated timeline for your consideration. Please let me know if you all have any questions. I look forward to continuing to work with you all. Sincerest Regards, Jarrett English Mellenium LLC ● Updated Timeline (attached)- Moving forward, we will submit timely updates to the RDA regarding progress at each project milestone. ○ The new timeline for the project is as follows: ■ Finalize Design- late May/June 2025- update submission by June 1st (potentially sooner.) ■ Submit 4% non-competitive application (as necessary/applicable)- May/June 2025- update submission TBD ■ Finalize Equity Investment and Permanent Financing Partners- June 2025, update submission by July 1st. ■ Begin Identification and Negotiations with Commercial Leasees- August 2025, rolling updates as negotiations progress to contractual period ■ Anticipated Construction Start- September 2025, update August 2025 ■ Anticipated Start of Lease-up- March 2026, update late April/Early March 2026 ■ Anticipated Start of Commercial Tenant Build Outs (as applicable)- ■ Anticipated Substantial Completion and start of Residential Tenant move-ins- January 2027. ● Unit Count and Organizational Structure ○ As part of the design and financial modeling phase for the Meridian, we’ve upped the number of units from the initial proposal’s 93 total units to 101 total units currently, with a 1:1 parking space ratio. This will increase operational cashflow coverage, commercial viability, and the number of unit types that will be available. This is accomplished utilizing the existing site footprint. Initial Unit Count Current Unit Count Studios 46 Studios 39 1 bd 20 1 bd 25 2 bd 11 2 bd 20 Townhomes 16 Townhomes 17 Total 93 Total 101 ○ Broad Spectrum Housing Options: One of the main goals of the project, whether the project is eventually awarded LIHTC credits or not, is to develop the property to serve all levels of income- A truly mixed use, mixed income, development that research says are the best types of communities. We are working to serve tenants from 40% to 120% of the Oshkosh AMI. Relative to the Fox Valley market, we will be able to serve people in the affordable, workforce, as well as market rate income ranges. We are in the process of incorporating within the financial modeling a long-term tenant ownership framework where all the units will become available for condo-coop home ownership, at an affordable price, with the first right to purchase being offered to the tenant residents. This would occur post any necessary compliance periods or no sooner than 15 years of the development being in operation. ● Financing ○ Tax Credits ■ The scoring analysis for the competitive 4% and 9% tax credit application resulted in a score of 131.54 point out of 179 points. (scoring report attached) Because of this, Baker Tilly recommended that we do not file for the competitive 4% and 9% allocation periods. Filing for the 2026 4% non-competitive allocation will be possible once the allocation is announced in May 2025. Part of the lower scoring is that the site is just outside of the qualified census tract for the area. ■ Concurrently, we are exploring non-LIHTC credit financing options including green infrastructure credits, new markets, and otherwise mechanisms. ○ Financing ■ With the help of Baker Tilly and others, we are in process of identifying equity investment partners. The advantage of this being a much faster closing period than LIHTC and traditional financing that may allow construction to begin closer to the original timeline. ■ In addition to pursuing equity financing we are also pursuing permanent and subordinate financing with a number of lenders. ● Design and Construction ○ Design ■ The original proposal remains the target design. We will be incorporating green infrastructure systems, as possible, with potential federal credit offsets. The goal is to have solar panels, at the minimum, incorporated into the design. ○ Construction ■ We are in process of working with the following companies to generate construction pricing and timeline confirmations from the following companies. ■ Greenfire- In process of creating construction quote and construction timeline. ■ CR Structures- In process of creating construction quote and construction timeline. ■ KGI Construction- In discussions. ● Business and Community Partnerships ○ Oshkosh Library System ■ We are in the early stages of developing a proposal for the library system to potentially locate a sub branch or otherwise services within the development. ○ Cafe Vendors ■ We are developing a proposal to solicit cafe vendors for the commercial space in the development. As stated, we will begin filing regular updates based on the adjusted timeline Thank you. Sincerest Regards, Jarrett English Mellenium LLC (Updated Development Timeline and LIHTC scoring report attached) 2025 Meridian Construcon Timeline Design Finalizaon and General Contractor Selecon Seek and secure Equity Partner, Construcon and Permanent Financing New 2026 4% Federal Non-Compeve Allocaon Annouced. Submission of 4% non-compeve applicaon Begin Selecon and Negoaon of Commercial Leases Construcon Period January February March April May June July August September October November December Meridian Construcon Timeline 2026 Ancipated Start of Commercial Tenant Build-Out Begin Stabilizaon and Lease-Up January February March April May June July August September October November December Meridian Construcon Timeline 2027 Ancipated Substanal Compleon and First Move-Ins January February March April May June City Hall, 215 Church Avenue P.O. Box 1130 Oshkosh, WI 54903-1130 920.236.5000 http://www.oshkoshwi.gov TO: Redevelopment Authority FROM: Kelly Nieforth Community Development Director DATE: March 13, 2025 RE: Executive Director’s Report for March 19, 2025 SOUTH SHORE REDEVELOPMENT AREA Boatworks Property Chet Wesenberg and Tim Hess have purchased the City and RDA properties and have installed the foundation on both parcels. They are constructing the apartment building on the east side first and will then construct on the west side. Former Morgan Door/Jeld Wen Froedtert ThedaCare Health are constructing their 85,000 sq ft hospital. The total investment in the site will be over $80 million dollars. There have been no plans submitted for the remainder of their property on the west side of Oregon Street or on the east side of Oregon Street. SAWDUST DISTRICT REDEVELOPMENT AREA Pioneer Marina/Island Area The City continues to work with the owner on potential development projects and parties interested in purchasing the property. Mill on Main Redevelopment Project Construction has started and is moving along. 913 and 923 South Main Street The owners and developers will be submitting WHEDA tax credits to convert the 913 S. Main Street building into multifamily units and demolish the 923 S. Main Street building and construct a new adjacent multifamily building. City Hall, 215 Church Avenue P.O. Box 1130 Oshkosh, WI 54903-1130 920.236.5000 http://www.oshkoshwi.gov MARION & PEARL REDEVELOPMENT AREA Mercury Marine Parking Lot on RDA/City Land Mercury Marine has approached the RDA about purchasing the property along Marion Road to install a parking lot. RDA will consider this item at a future meeting. Morgan Crossing – Phase 2 The property owner has not approached the city to create a TIF Development Agreement. Merge Urban Development Staff has been in communication with the developers to discuss their next project on their parcels which will require the TIF Development Agreement to be amended. It appears that the developers are planning on developing on Parcel I, which is just south of the water tower. SAWYER STREET/OSHKOSH AVENUE Sawyer Street/Oshkosh Avenue Intersection Reconstruction The City will be purchasing four lots on the north side of Oshkosh Avenue in April which will assist with the intersection reconstruction. Tentatively, the project is scheduled for real estate acquisition in 2026, design in 2027, and construction in 2028. HOUSING Washington School Redevelopment The former Washington School building is currently being demolished in order to prep the site for 18 single family homes. The city will be releasing an RFP for a master builder on the city’s parcels to start construction in Spring of 2025. Habitat for Humanity of Oshkosh will purchase 9 lots to construct on. Jefferson Street/North Main Street Commonwealth Project Commonwealth Development has purchased the RDA’s property on Jefferson Street and North Main Street to start construction of The Corridor, a mixed-income WHEDA development. The project is anticipated to be completed in 2026. Farmington Workforce Housing Development The City has purchased two properties on the west side of Jackson Street to construct approximately twenty (31) single family homes in the workforce housing income range. The city will install utilities for the first phase later this year. Staff anticipates that construction will occur in 2026. Respectfully Submitted, Kelly Nieforth Community Development Director