HomeMy WebLinkAbout07-67
FEBRUARY 13, 2007 07 -30 07 -67
JANUARY 23,2007
PENDING
RESOLUTION
(CARRIED 6-0 LOST LAID OVER
WITHDRAWN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
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WHEREAS, the City of Oshkosh owns certain lands within the corporate limits of the City of Oshkosh
and des,' ires to sell such lands for business park development; and
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. ' WHEREAS, the Oshkosh Area Economic Development Corporation, is a non-profitWisconsiri
corporation committed to the commercial development of the City of Oshkosh and havingthe means and, ability
,to work toward the' development of land for business park uses;
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NOW, THEREFORE, the City of Oshkosh, hereinafter referred to as the "CITY", and the Oshkosh Area
Economic 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
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'agreesas follows:
The City ~gr.ees: ",'
1. That by these presents,Jor and in consideration ofTen Dollars ($10.00) in hand ,paid, receipt of,
which ish~m;Jby acknowledged from OAEDC, has agreed and does agree to hOld until the thirtY-first(31st),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 consistirigofthe following:
A. Universal Business Park
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", andthe,City of Oshkosh covenants to convey by Warranty Deed any portion of said propertythereofat any time
. ' ~ithin the above time prescribed~ to OAEDC or such person or persons as OAEPC may direct for and at the
. price as shown on "Attachment B", payable on delivery ofa Warranty Deed by theCity,siibject; however, to the
further requirement that this option shall be of no effect and no rights shall inure toOAEDG or any other person
or persons hereunder or byany purported exercise ofthisoption;unless within the time written notice of exercise
oftMs optioil shall be delivered to the, City Attorheyofthe CitY. The purchase price attached hereto includes, for'
allthe premises~ graded, grave,led 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; OAEDe a non-profit organization~ agrees:
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(a) To attempt to work toward the commercial development of the land whichis 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 al1d Guidelines" (see AttachmentA").
(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
Couneil for review. OAEDC shall monitor the 'enforcement of these Covenants and if a'
breach occurs which requires repurchase, then in that event, GAEDe 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
Hwritten notice of its desire to terminate. '
IN WITNESS WHEREOF, the'City of Oshkosh, Wi~consin, and OAEDChave'respectively caused this
Agreement to be duly executed on this~ day of , 20~,
CITY OF OSHKOSH'
OSHKOSH AREA ECONOMIC
DEVELOPMENT CORPORATION
", By:
Richard A. Wollangk, City Man'ager
,By:
President
And:
. And:
Pamela R. Ubrig, City Clerk
Secretary
STATE OE WISCONSIN )
)ss.
WINNEBAGO COUNTY Y
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'PerSonally came before me this'~ day of ,20_ the above illimed'Richard A. Wollangk,
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 authqrity.
Notary Public,Winnebago County, WI
, My Com1ll.ission' Expires:' ,
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STATE OF WISCONSIN)
'. )ss,
WINNEBAGOCOUNTY )
,Personally came before mi;: 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"
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CITY OF dSRKOSHBUSINESS PARK
,SALES POLICIES AND GUIDELINES
The d~velopmerit of the B~sine~s ,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 sef:ting for planned. orderly Business
, Park development to occur. ' ',,' , ,
The sales policies andguidelinesdescribedhereinwil] 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 o'verall quality of development, to attract high quality, service related businesses, and to ensure that
the Business Park remains a successful public investment. ' ,
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1) OAEDe is designated as the exclusive agent regarding the sale of property in the City's Business Park.
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2) All contacts and communications with prospects will be handled on a confidential basis.
3)
Sales proposals 'will be coiisidered for approval if, in the opinion of OAEDC, the pr()j~ct fits the
development obje9t~v.es of.th,e City and OAEDC. '
4)
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Land sales should be undertaken 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 ofirreguhir shape and size. OAEDC shall consult
with City staff in the delineation of sites. '
5)
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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 5490 I, prior to any land sale negotiations. '
B. No commission will be paid to any broker for saleofland to a prospect who,registereddirectly
, , with OAEDCprior to contact with 'a broker.
C. All land sale proposals and broker commission payments shall be approved byOAEDC.
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D. A broker.:registered prospect shall remain on the active list for a period of six m'onths, unless
renewal is requested by the broker. "
"ATTACHMENT B"
,UNIVERSAL BUSINESS PARK
PRICING STRUCTURE
LOT PRICE PER SQ. FT. LOTA~A LOT PRICE PER SQ. FT. ' LOT AREA
NO. NO.
SOLD 93,596,24 sq.ft ]7 Sale Pending 1 1.25 79,613.31 sq.ft
2 ' SOLD 54,6]7.38 sq.ft. ]8 SOLD ] 27,079.51 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' 5],829.5Jsq.ft ' 21 SOLD 54,225.8] sq.ft
6 SOLD 54,670.34 sq.ft 22 SOLD 43,56Lt2 sq.ft
7 1.25 54,147.24 sq.ft 23 SOLD 39)2] .52 sq.ft
8 SOLD 58,864.21 sq.ft " 24 SOLD 4],937.0] sq.ft
9 SOLD 70,781.86 sq.ft 25 SOLD 42,313.52 sq.ft
]0 1.25 67,070.86 sq.ft 26 SOLD ]25,2~7Jq sq.ft
] 1 1.25 51,254.46 sq.ft 27 SOLD 91,48] .68 sq.ft
]2 Sale Pending 11.:45 42,463.25 sq.ft, 28 SOLD 101,583.51 sq.ft
13 SOLD 43,067.93 sq.ft 29 SOLD 9],819.60 sq.ft
14 SOLD 53,746.26 sq.ft 30 2.50 97,220.87 sq.ft
....
IS SOLD 53,819.25 sq.ft ' 3] 2.50' 114,448.39 sq.ft
16, , Sale Pending 11.25 85;344,97 sq.ft ,32 2.50 148,075.35 sq.ft
NOTE:. In the dispositiono,f property in the Universal B,usiness Park, lot lines and lot configurations may be adjusted from,those
shoWti on the attached site planmap. ' "
The City. of Oshkosh reserves the right to reduce the prices herein established for individual parcels for good and"
suffici~J;1t reasons as determined by said City. OAEDe shal,lhave 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
assO,ciated, with said ~ale.
Should the City detennine to ~ellland for less than the scheduled price, then OAEDC's sixteen percent (16% ) shaH be
determined by the actual selling price.
When land is repurchased by the City, due tononimplementation of the project that had been'proposed per its initial salle,
OAEpCwill 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 effe~t until January 31, 2009. However, theahoveprice structure may be adjusted
, annually by mutual agreement by the parties. Any adjustments would be effective on oraft~r February 1, of the year in
which the prices are changed.
:OCDC business 'park agmt
revised: 1/05; 1107
"ATTACHMENT C"
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The nCity of Oshkosh, Univ'ersal Business Park, Covenants and
Restrictionsll as on file in the Department of Community Development.
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