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Home My WebLink About07-30 JANUARY 23,2007 07 -30 RESOLUTION (CARRIED LOST LAID OVER 6-1 WITHDRAWN PURPOSE: APPROVE AGREEMENT WITH OSHKOSH AREA ECONOMIC DEVELOPMENT CORPORATION - BUSINESS PARK LAND INITIATED BY: CITY ADMINISTRATION BE IT RESOLVED by the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 business park development between the City of Oshkosh and the Oshkosh Area Economic Development Corporation (OAEDC) 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 celiain lands within the corporate limits of the City of Oshkosh and desires to sell such lands for business park development; and WHEREAS, the Oshkosh Area Economic Development Corporation, is a non-profit Wisconsin corporation committed to the commercial development of the City of Oshkosh and having the means and ability to work toward the development of land for business park uses; NOW, THEREFORE, the City of Oshkosh, hereinafter referred to as the "CITY", and the Oshkosh Area Econom.ic Development Corporation, hereinafter referred to as "OAEDC," in order to work towards the commercial development of the following described properties, hereinafter referred to as the" BUSINESS PARK", viz: A. Universal Business 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 OAEDC, 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, subj ect to the order of OAEDC to purchase all ofthe premises owned by the City of Oshkosh known as and consisting ofthe following: A. Universal Business 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 OAEDC or such person or persons as OAEDC 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 shall be of no effect and no rights shall inure to GAEDC 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 shall be delivered to the City Attorneyof the City. The purchase price attached hereto includes, for all the premises, graded, graveled and paved streets, street lights, sanitary sewer, water mains and storm sewers, as needed, and the extension of gas and electrical service, excluding laterals. 2. OAEDC a non-profit organization, agrees: (a) To attempt to work toward the commercial development ofthe 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 "Business 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. OAEDC shall monitor the enforcement of these Covenants and if a breach occurs which requires repurchase, then in that event, OAEDC shall assign its right to repurchase to the City. 3. This agreement shall be terminable by either party 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 OAEDC have respectively caused this Agreement to be duly executed on this _ day of ,20_ CITY OF OSHKOSH OSHKOSH AREA ECONOMIC DEVELOPMENT CORPORATION By: By: Richard A. W ollangk, City Manager President And: And: Pamela R. Ubrig, City Clerk Secretary STATE OF WISCONSIN ) )ss. WINNEBAGO COUNTY) Personally came before me this~ day of ,20_ the above mtmedRichard A. Wollangk, City Manager, and Pamela R. Ubrig, City Clerk, of the 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 CorrHnission Expires: STATE OF WISCONSIN) . ) ss. WINNEBAGO COUNTY ) Personally came before me this _ day of , 20_, the above named , President, and ,Secretary, ofOAEDC, to me known to be the persons who executed the foregoing instrument and acknowledged same as and for said corporation. Notary Public, Winnebago County, WI My Commission Expires: Approved as to form: Lynn Lorenson, Asst. City Attorney, Oshkosh, WI " ATTACHMENT A" CITY OF OSHKOSH BUSINESS PARK SALES POLICIES AND GUIDELINES The development of the Business Park within the City of Oshkosh is a continuance of a successful public-private partnership working for the communities benefit -- through job creation, economic growth, and expanded tax base. It represents the commitment by the community to provide a suitable set-ting for planned, orderly Business Park development to occur. The sales policies and guidelines described herein will be followed when land sales are considered in the City's Business Park. These policies and guidelines in combination with the Protective Covenants, are intended to promote the overall quality of development, to attract high quality, service related businesses, and to ensure that the Business Park remains a successful public investment. 1) OAEDC is designated as the exclusive agent regarding the sale of property in the City'sBusiness Park. 2) All contacts and communications with prospects will be handled on a confidential basis. 3) Sales proposals will be considered for approval if, in the opinion of OAEDC, the project fits the development objectives of the City and OAEDC. 4) Land sales should be undeltaken in such a manner so as to promote and encourage compact and orderly . development of the business park and each individual parcel. The identification of sites should be done as to avoid the creation of remnant parcels and areas of irregular shape and size. OAEDC shall consult with City staff in the delineation of sites. 5) Any real estate broker, licensed to conduct business in the State of Wisconsin, who represents a prospect, shall become eligible for a sales commission not to exceed four percent (4%) ofthe sale price, deducted from the commission paid to OAEDC, subject to the following terms: A. The Broker and prospect shall register in writing with OAEDC at 120 Jackson Street, Oshkosh, Wisconsin 54901, prior to any land sale negotiations. B. No commission will be paid to any broker for sale ofland to a prospect who registered directly with OAEDC prior to contact with a broker. C. All land sale proposals and broker commission payments shall be approved by OAEDC. D. A broker-registered prospect shall remain on the active list for a period of six months, unless renewal is requested by the broker. "ATTACHMENT B" UNIVERSAL BUSINESS PARK PRICING STRUCTURE LOT I)RICE PER SQ. FT. LOT AREA LOT PRICE PER SQ. FT. LOT AREA NO. NO. SOLD 93,596.24 sq.ft 17 Sale Pending /1.25 79,613.31 sq.ft 2 SOLD 54,617.38 sq.ft. 18 SOLD 127,079.51 sq.ft 3 SOLD 48,212.12 sq ft 19 SOLD 57,611.33 sq.ft 4 SOLD 54,532.03 sq ft 20 SOLD 37,108.27 sq.ft 5 SOLD 51,829.53sq.ft 21 SOLD 54,225.81 sq.ft 6 SOLD 54,670.34 sq.ft 22 SOLD 43,561.12 sq.ft 7 1.25 54,147.24 sq.ft 23 SOLD 39,321.52 sq.ft 8 SOLD 58,864.21 sq.ft 24 SOLD 41,937.01 sq.ft 9 SOLD 70,781.86 sq.ft 25 SOLD 42,313.52 sq.ft 10 1.25 67,070.86 sq.ft 26 SOLD 125,297.10 sq.ft 11 1.25 51,254.46 sq.ft 27 SOLD 91,481.68 sq.ft 12 Sale Pending /1.25 42,463.25 sq.ft 28 SOLD 101,583.51 sq.ft 13 SOLD 43,067.93 sq.ft 29 SOLD 91,819.60 sq.ft 14 SOLD 53,746.26 sq.ft 30 2.50 97,220.87 sq.ft 15 SOLD 53,819.25 sq.ft 31 2.50 114,448.39 sq.ft 16 Sale Pending /1.25 85,344.97 sq.ft 32 2.50 148,075.35 sq.ft NOTE: In the disposition of property in the Universal Business Park, lot lines and lot configurations may be adjusted from those shown on the attached site plan map. 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. OAEDC shall have the right to sell properties which are the subject matter of this agreement and shall receive sixteen percent (16%) commission plus any reasonable costs for incidental expenses associated with said sale. Should the City detel1TIine to sell land for less than the scheduled price, then OAEDC's sixteen percent (16%) shall be determined by the actual selling price. When land is repurchased by the City, due to nonimplementation of the project that had been proposed per its initial sale, OAEDC 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 sale price and the resale price, plus any reasonable costs for incidental expenses associated with said resale. The above schedule shall be in effect until January 31, 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 1 of the year in which the prices are changed. :OCDC business park agmt revised: 1105; 1/07 "ATTACHMENT C" The "City of Oshkosh, Universal Business Park, Covenants and Restrictions" as on file in the Department of Community Development. ----r a . A;(~~~~. ~~ \""-1'-110) ':JiJOJ] v;~~ . ""l~,~ \, . .....~Jpj?yk~ ~~"'^'" '. ' ...(' l{\ /\ <.. . ..{~ ..,\. '. c<) ~ 8 ~.. II) : '\t to. 5 ... .. ffi ~ , ;! 1'3 . t:- :3 I=! g: C3 G~