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Home My WebLink About06-54.doc FEBRUARY 14, 2006 06-54 RESOLUTION (CARRIED~LOST LAID OVER WITHDRAWN ) PURPOSE: APPROVE TAX INCREMENT DISTRICT NO. 21 PROJECT PLAN; DESIGNATE TAX INCREMENT DISTRICT NO. 21 BOUNDARIES; CREATE TAX INCREMENT DISTRICT NO. 21 FOX RIVER CORRIDOR PROJECT INITIATED BY: CITY ADMINISTRATION PLAN COMMISSION RECOMMENDATION: Approved WHEREAS, pursuant to Section 66.1105, Wis. Stats., the City of Oshkosh proposes to create Tax Increment District No. 21 Fox River Corridor Project; and WHEREAS, the City of Oshkosh Plan Commission has prepared and adopted a project plan for Tax Increment District No. 21 Fox River Corridor Project, which: 9) 10) and 1 ) 2) 3) 4) Includes a statement listing the kind, number and location of all proposed public works or improvements within such District. Contains an economic feasibility study. Contains a detailed list of estimated project costs. Contains a description of the methods of financing all estimated project costs and the time when such costs or monetary obligations related thereto are to be incurred. Includes a map showing existing uses and conditions of real property in such District. Includes a map showing proposed improvements and uses therein. Contains a list of estimated non-project costs. Contains a statement of a proposed method for the relocation of any person to be displaced. Indicates how the creation of TID No. 21 promotes the orderly development of the City. Contains an opinion of the City Attorney that the Plan complies with Section 66.1105(4 )(f), Wis. Stats. 5) 6) 7) 8) WHEREAS, the Plan Commission has held a public hearing on the creation of TID No. 21 and the proposed boundaries thereof and has notified the Chief Executive Officers of all local government entities having the power to levy taxes on property within the District, including the School Board of any school district which includes property within the District pursuant to Section 66.1105, Wis. Stats.; and FEBRUARY 14, 2006 06-54 RESOLUTION CONT'D WHEREAS, the City of Oshkosh Plan Commission affirms the following per the TID No. 21 Project Plan: . The district is a blighted area TID; . More than 50 percent of the real property within the TID is blighted within the meaning of Section 66.1105(2), 66.1333(2m)(b) Wisconsin Statutes; . Not less than 50% of the structures/properties within the TID are in need of rehabilitation or conservation within the meaning of Section 66.1333, Wisconsin Statutes; . Property that has been vacant for the last 7 years does not exceed 25% of the area of the district: . The redevelopment of the area will have a significant positive impact on the value of all real property in the District and is in keeping with the goals and objectives of the Comprehensive Plan; . Were it not for the financing mechanisms provided through Tax Increment Law, planned redevelopment of this district would in all likelihood not occur; . The primary objective for creation of TID #21 Project Plan is for blight elimination and to promote redevelopment; . The Project Plan is feasible and is in conformity with the City's Comprehensive Plan; . Improvement of the area is likely to enhance significantly the value of substantially all of the other property in the district; . The project costs identified in the Project Plan relate directly to eliminating blight and rehabilitating the area; . The equalized value of taxable property within the district plus the value increment of all existing districts within the city does not exceed 12 percent of the total equalized value of taxable property within the city. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Oshkosh that the Project Plan is feasible and in conformity with the City's Comprehensive Plan and hereby approves of the Project Plan [on file at the City Clerk's office] for Tax Increment District No. 21 Fox River Corridor Project, pursuant to the provisions of Section 66.1105, Wis. Stats. BE IT FURTHER RESOLVED that the Common Council of the City of Oshkosh hereby designates the boundaries of TID No. 21 as described in "Exhibit A". BE IT FURTHER RESOLVED that the Common Council of the City of Oshkosh hereby approves creation of Tax Increment District No. 21 Fox River Corridor Project. FEBRUARY 14, 2006 06-54 RESOLUTION CONT'D BE IT FURTHER RESOLVED that the improvements contemplated in TID No. 21 Fox River Corridor Project will have a significant positive impact on the value of all real property in the District and is in keeping with the goals and objectives of the Comprehensive Plan. BE IT FURTHER RESOLVED that the equalized value of taxable property within the District plus the value increment of all existing Districts within the City does not exceed 12% of the total equalized value of taxable property within the City. BE IT FURTHER RESOLVED that not less than 50% of the real property within TID No. 21 are in need of rehabilitation or conservation within the meaning of Section 66.1333, Wis. Stats. BE IT FURTHER RESOLVED that the District is a blighted area TID and the project costs identified in the Project Plan relate directly to eliminating blight and rehabilitating the area. "EXHIBIT A" TIF 21 FOX RIVER CORRIDOR PROJECT LEGAL DESCRIPTION All of Lot 1 and Outlot 2 of Certified Survey Map (CSM) No. 5712 of Winnebago County Records; all of Lot 1 and Outlot 1 of CSM No. 5840 of Winnebago County Records; all of Lot 23 and Lot 24 of Block F of Western Addition to Oshkosh; part of vacated Hancock Street; part of Jackson Street; part of Pearl Avenue; part of Dawes Street; all of Riverway Drive; part of Marion Road; part of Lots 0, 1, and all of Lots 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, and 14 of Block D of Western Addition to Oshkosh; all of vacated Jay Street lying southerly of Marion Road; all of Block A of Western Addition to Oshkosh; part of the Fox River; and all of Outlot 1 of CSM No. 5748 of Winnebago County Records, being in the S% of the NE%, the N% of the SE%, and the SE% of the SE% of Section 23, Township 18 North, Range 16 East, First and Ninth Wards, City of Oshkosh; Winnebago County, Wisconsin described as follows: Beginning at the intersection of the centerline of Jackson Street and the centerline of Pearl Avenue; thence northwesterly along the centerline of Pearl Avenue to the centerline of Dawes Street; thence southerly along the centerline of Dawes Street to the southerly right-of-way of Dawes Street also being the northerly line of Outlot 2 of Certified Survey Map (CSM) No. 5712 of Winnebago County Records; thence westerly along the northerly line of said Outlot 2 to the west (western most) corner of said Outlot 2; thence easterly along the southerly line of said Outlot 2 to the southeast (southern most) corner of said Outlot 2; thence northerly along the easterly line of said Outlot 2 to the northeast corner of said Outlot 2 also being a point on the southerly line of Lot 1 of said CSM No. 5712; thence easterly along the southerly line of said Lot 1 to the southwest right-of-way of Riverway Drive; thence southeasterly along said right-of-way to the westerly line of CSM No. 5840 of Winnebago County Records; thence southwesterly along the westerly line of said Lot 1 to a point on the northeast line of Lot 23 of Block F of Western Addition to Oshkosh; thence northwesterly along the northeast line of said Lot 23 and the northeast line of Lot 24 of said Block F to the northwest corner of said Lot 24; thence southwesterly along the northwest line of said Lot 24 and its extension to the centerline of vacated Hancock Street being 30 feet southwesterly of the southwest corner of said Lot 24; thence southeasterly along the centerline of vacated Hancock Street being 30 southwesterly of and parallel with the southwest line of said Block F to the intersection of the southeast line of said Lot 23 extended; thence northeasterly along the extended southeast line of said Lot 23 to a point on the westerly line of Lot 1 of said CSM No. 5840; thence southwesterly along the westerly line of said Lot 1 to the northerly right-of- way of Marion Road; thence along the southwesterly extension of the westerly line of said Lot 1 to the centerline of Marion Road; thence westerly along the centerline of Marion Road to a point that is 70 feet southeasterly of, measured at right angles to, the centerline of the right-of-way of the former Soo Line Railroad Company; thence southwesterly, and parallel with the centerline of said railroad right-of-way, to a point on the northeasterly Shore Line (U.S. Harbor Line) of the Fox River as established by a General Ordinance of the City of Oshkosh per Document No. 276204 of Winnebago County Records; thence southeasterly across the Fox River to the intersection of the westerly line of Outlot 1 of CSM No. 5748 of Winnebago County Records and the southeasterly Shore Line (U.S. Harbor Line) of the Fox River as established by a General Ordinance of the City of Oshkosh per Document No. 276204 of Winnebago County Records; thence southerly along said westerly line to the southerly line of said Outlot 1; thence easterly along said southerly line to the easterly line of said Outlot 1; thence northerly along said easterly line to a point on said southeasterly Shore Line (U.S. Harbor Line) of the Fox River; thence northeasterly across the Fox River to the intersection of said northeasterly Shore Line (U.S. Harbor Line) of the Fox River and the centerline of Jackson Street; thence northerly along the centerline of Jackson Street to the point of beginning. Said description containing approximately 1,863,800 square feet or 42.79 acres more or less. . Map 1 Tax I ncrement District #21 - Fox River Corridor Project N w-<?-' s Legend . Proposed TID #21 Boundary " 0 100 200 400 600 =--- ' Feet January, 2006