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Home My WebLink About07-29 JANUARY 23,2007 07 -29 RESOLUTION (CARRIED LOST LAID OVER 6-1 WITHDRAWN PURPOSE: APPROVE AGREEMENT WITH CHAMCO - INDUSTRIAL PARK LAND INITIATED BY: CITY ADMINISTRATION BE IT RESOLVED by the Common Council of the City of Oshkosh that the attached Agreement for sale of lands for industrial development between the City of Oshkosh and CHAMCO, Inc. is hereby approved; any changes in the execution copy being deemed approved by their respective signatures, and the proper City officials are hereby authorized and directed to enter into same. AGREEMENT WHEREAS, the City of Oshkosh owns cel1ain lands within the corporate limits of the City of Oshkosh and desires to sell such lands for industrial development; and WHEREAS, the City periodically seeks to acquire additional lands f6r future industrial development; and WHEREAS, CHAM CO, Inc., is a non-profit Wisconsin corporation interested in the industrial development of the City of Oshkosh and having the means and ability to work toward the acquisition, sale and development of land industrially. NOW, THEREFORE, the City of Oshkosh, hereinafter referred to as the "CITY", and CHAMCO, Inc., hereinafter referred to as "CHAMCO", in order to work towards the industrial development of the following described property, viz: A. A VIA nON INDUSTRIAL PARK B.NORTH INDUSTRIAL PARK C. NORTHWEST INDUSTRIAL PARK D. SOUTHWEST INDUSTRIAL PARK agrees as follows: The City agrees: I. That by these presents, for and in consideration ofTen Dollars ($10.00) in hand paid, receipt of which is hereby acknowledged from CHAMCO, has agreed and does agree to hold until the thirty-first (31 st) day of January, 2009 at 12:00 PM, time being of the essence of this Agreement, an option, subject to the order of CHAMCO to purchase all ofthe premises owned by the City of Oshkosh known as and consisting of the following: A. A VIA nON INDUSTRIAL PARK B. NORTH INDUSTRIAL PARK C. NORTHWEST INDUSTRIAL PARK D. SOUTHWEST INDUSTRIAL PARK and the City of Oshkosh covenants to convey by Warranty Deed any portion of said property thereof at any time within the above time prescribed, to CHAMCO or such person or persons as CHAMCO may direct for and at the price as shown on "Attachment B", payable on delivery of a Warranty Deed by the City, subject, however, to the further requirement that this Option shaH be of no effect and no rights shall inure to CHAMCO or any other person or persons hereunder or by any purported exercise of this Option, unless within the time written notice of exercise of this Option shaH be delivered to the City Attorney of the City. The purchase price attached hereto includes for all industrial parks, graded, graveled and paved streets, street lights, sanitary sewer, water mains and storm sewers, as needed. 2. CHAMCO, a non-profit organization, agrees: (a) To attempt to work toward the industrial development of the land which is the subject matter of this Agreement. (b) To sell land for uses as permitted in the approved Protective Covenants and in accordance with the "Industrial Park Sales Policies and Guidelines" (see "Attachment A"). (c) That they have adopted Protective Covenants for land sold hereunder and before any changes to said Covenants are adopted, they will be submitted to the Oshkosh Common Council for review. CHAMCO shall monitor the enforcement of these Covenants and if a breach occurs which requires repurchase, then in that event, CHAMCO shall assign its right to repurchase to the City. 3) CHAMCO shall assist the City in acquisition of suitably identifiable lands for future industrial development with the City reimbursing CHAMCO for its reasonable, out-of-pocket expenses. THIS AGREEMENT shall be terminable by either pal1y by giving to the other party six (6) months written notice of its desire to terminate. IN WITNESS WHEREOF, the City of Oshkosh, Wisconsin, and CHAMCO, Inc. have respectively caused this Agreement to be duly executed on this day of , 2007. CITY OF OSHKOSH CHAMCO, INC. By: Richard A. Wollangk, City Manager By: President And: Pamela R. Ubrig, City Clerk And: Secretary STATE OF WISCONSIN) ) ss. WINNEBAOO COUNTY) \ Personally came before me this day of ,2007, the above named Richard A. WoHangk, City Manager and Pamela R. Ubrig, City Clerk, ofthe City of Oshkosh, to me known to be the persons who executed the foregoing instrument and acknowledged same as and for said Corporation, by its authority. Notary Public, Winnebago County, WI My Commission Expires: STATE OF WISCONSIN) ) ss. WINNEBAOO COUNTY) Personally came before me this day of , 2007, the above named , President, and , Secretary, of CHAM CO, Inc., to me known to be the persons who executed the foregoing instrument and acknowledged same as and for said Corporation, by its authority. Approved as to form: Notary Public, Winnebago County, WI My Commission Expires: Lynn Lorenson, Asst. City Attorney "ATTACHMENT A" CITY OF OSHKOSH INDUSTRIAL PARK SALES POLICIES AND GUIDELINES Industrial Parks within the City of Oshkosh have been developed as a result of a successful public-private pat1nership working for the community benefit -- through job creation, economic growth, and expanded tax base. It represents the commitment by the community to provide a suitable setting for planned, orderly industrial development to occur. The sales policies and guidelines described herein will be followed when land sales are considered in each ofthe City's Industrial Parks. These policies and guidelines in combination with the Protective Covenants, are intended to promote the overall quality of development, to attract quality, labor intensive companies, and to ensure that the industrial parks remain successful public investments. 1) CHAMCO, Inc. is designated as the exclusive agent regarding the sale of property in each of the City's Industrial Parks. 2) All contacts and communications with prospects will be handled on a confidential basis. 3) To be considered for approval, a project must produce the following public benefits: (A) Initial construction on the site will produce a building to land coverage of 11% minimum. (B) The project will generate an initial taxable real estate value of $100,000 per acre, inclusive ofland. (C) The project will supply 3 jobs per acre ofland purchased, with a likelihood of creating an additional 3 jobs per acre within five (5) years. Any sales proposal which does not meet one or more of these public benefits, may still be considered for approval if, inthe opinion of CHAMCO, Inc., the project fits the development objectives of the City and CHAMCO, Inc. 4) Land sales should be undel1aken in such a manner so as to promote and encourage compact and orderly development of each Park. The identification of sites should be done so as to avoid the creation of remnant parcels and areas ofirreg-ular shape and size. CHAM CO, Inc. shall consult with City staffin the delineation of sites. 5) Land sales may also be accomplished by an option for a maximum term of three (3) years with the annual option payment equal to the amount of real estate propel1y tax that would accrue on the industrial park acreage if the optioned acreage is on the tax role. The option money, less any reasonable costs for incidental expenses associated with creating the option, would accrue directly to the City and would not be applied to the sales pnces. 6) Offers to purchase shall contain a provision that the purchaser, if a not-for-profit or otherwise tax exempt entity, shall make an annual payment to the City in lieu of property taxes equal to the mill rate for City purposes multiplied by the assessed value ofJand and improvements as estimated by the City Assessor. "ATTACHMENT B" SCHEDULE OF PRICES A. A VIA TION INDUSTRIAL PARK (no lands available) B. NORTH INDUSTRIAL PARK Property fronting on Jackson St. $12,000 per acte C. NORTHWEST INDUSTRIAL PARK $17,500 per acre D. SOUTHWEST INDUSTRIAL PARK Parcels not in expansion area $18,000 per acre Expansion area $26,000 per acre The City of Oshkosh reserves the right to reduce the prices herein established for individual parcels for good and sufficient reasons as determined by said City. CHAMCO, Inc. shall have the right to sell the properties which are the subject matter of this Agreement and shall receive sixteen percent (16%) commission plus any reasonable costs for incidental expenses including land survey fees, attorney fees, engineering studies and soil tests, excluding environmental studies, associated with said sale. Should the City determine to sell land for less than the scheduled price, then CHAMCO's sixteen percent (16%) shall be determined by the actual selling price. When land is repurchased by the City, due to non-implementation of the project that had been proposed per its initial sale, CHAMCO will be entitled, upon the resale of said land, to a sixteen percent (16%) commission figured on the value of any increment that exists between the original selling price and the resale price, plus any reasonable costs for incidental expenses associated with said resale. . The above schedule shall be in effect until January31, 2009. However, the above price structure may be adjusted annually by mutual agreement by the parties. Any adjustments would be effective on or after February I of the year in which the prices are changed. :chamco agreement revised Jan 2003; ]/05; 1/07 Industrial Parks CITY OF OSHKOSH, WISCONSIN .t. e. ";j......... ;,0,::.-. o 0..25 0.5 D.7S po--., ~fH 1 1.25 =-