HomeMy WebLinkAboutUniversal Business Park OAEDC-03/07
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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 abillity
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
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
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, subject to the order of
OAEDC to purchase all of the 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 OAEDC 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 Attorney of 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 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 "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
Couneil 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, th~~ of Oshkosh, Wisconsin, and OAEDC have respectively caused this
Agreement to be duly executed on this (jay of vVl ut/\-.f'n ,20.l2l.
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CITY OF OSHKOSH
OSHKOSH AREA ECONOMIC
DEVELOPMENT CORPORATION
By ~ l1fAMw}f-
~dent
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U ecretary
By:
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And:
STATE OF WISCONSIN )
)ss.
WINNEBAGO COUNTY)
Personally came before me thisq~ay of 77;~ ,20-'22- the above named Richard 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.
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County, WI
STATE OF WISCONSIN )
) ss.
WINNEBAGO COUNTY )
Personally came before me this~day of fhf}lL.N ,20 ~ ' the above named
.::r-/)6oo !WQP;VL?J/ , President, and kf> )(LE/J1I9-. , Secretary, ofOAEDC, to me
known to be the persons who executed the foregoing instrument and acknowledged same as and for said
corporation.
Notary Public, Wi ebago County, WI
My Commission xpires: f;b :< 1/~ ;;?,/I
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. "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 setting 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's Business 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 undeliaken in such a manner so as to promote and encourage compact and orderly
development ofthe 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%) of the 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.
1J "ATTACHMENT B"
UNIVERSAL BUSINESS PARK
PRICING STRUCTURE
LOT PRICE 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.]2 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 51,829.53 sq.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 9],481.68 sq.ft
12 Sale Pending / ] .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
]4 SOLD 53,746.26 sq.ft 30 2.50 97,220.87 sq.ft
]5 SOLD 53,819.25 sq.ft 31 250 114,448.39 sq.ft
]6 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 determine 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 valm: of any
increment thatexists 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 3],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.
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:OCDC business park agmt
revised: 1/05; 1/07
"ATTACHMENT C"
The "City of Oshkosh, Universal Business Park, Covenants and
Restrictions" as on file in the Department of Community Development.
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