HomeMy WebLinkAbout09-62FEBRUARY 24, 2009 09 -62 RESOLUTION
(CARRIED 7 -0 LOST LAID OVER WITHDRAWN )
PURPOSE: APPROVE ACQUISITION OF INDUSTRIAL PARK LAND /
NORTHWEST INDUSTRIAL PARK EXPANSION — BOSCHWITZ
PROPERTIES (TOWN OF OSHKOSH)
INITIATED BY: DEPARTMENT OF COMMUNITY DEVELOPMENT
WHEREAS, the owners of property on the west side of Vinland Street, south of
Fernau Avenue, have offered to sell 87± acres of land to the City for expansion of the
Northwest Industrial Park at a purchase price of $14,000 per acre.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
Oshkosh that the proper City officials are hereby authorized and directed to purchase
87± acres of land on the west side of Vinland Street, south of Fernau Avenue, per the
attached map, for expansion of the Northwest Industrial Park, at a purchase price of
$14,000 per acre. Money for this purpose is hereby appropriated from Account No.
515 - 1040 - 1702 -03955 Industrial Park Land Enterprise Fund — Northwest Industrial
Park.
W. FER u
W, PACKER AVE.
DISCLAIMER
This map is neither a legally recorded map nor
a survey and it is not intended to be used as one.
This drawing is a compilation of records, data
and information located in various city, county
and state offices and other sources affecting
the area shown and it is to be used for reference
purposes only. The City of Oshkosh is not re-
sponsible for any inaccuracies herein contained.
If discrepencies are found, please contact the
City of Oshkosh.
Boschwitz Properties
Land Acquisition
NW Industrial Park Expansion
0 700 Feet
AVE
W. SMITH AVE.
N
City of Oshkosh Wisconsin
Community Development
2/18/09
Created by - D
0
OYHKOlH
ON THE WATER
TO: Honorable Mayor and Members of the Common Council
FROM: Jackson Kinney_,, c� -`
Director of C m unity Development
DATE: February 19, 2009
RE: Approve Acquisition of Industrial Park Land/Northwest Industrial Park
Expansion – Boschwitz Property (Town of Oshkosh)
BACKGROUND
The Council is asked to approve a Resolution that will authorize the purchase of land for future
industrial park development. The City submitted a conditioned offer (that was subsequently
accepted) on the acquisition of 87.5 acres of land adjacent to the City's Northwest Industrial
Park. The property is situated to the south of the existing park on the west side of Vinland
Street. The overall property includes land on either side of a Canadian National Railroad spur
line. The condition on the offer was that it was subject to review and approval by Council.
The property owners have agreed to the proposed purchase price of $14,000 an acre with closing
on the transaction to occur by April 16, 2009.
ANALYSIS
In 2003 the City retained Foth & Van Dyke of Green Bay to prepare an expansion plan for the
Northwest Industrial Park. The Boschwitz property was included in the area shown for future
expansion of the Park. Attached to this Memo is the industrial development concept plan for the
area.
Also attached to this Memorandum is an aerial showing the general location of the 87.5 acre site.
As the City has worked with Chamco on industrial park programming over the years, there has
been a continuing need to look at properties that offer logical locations for the expansion of the
City's industrial parks. Acquiring land adjacent to the existing park on either side of a Canadian
National Railroad spur line would meet that criterion and enable the City to increase the amount
of land available for development on the north side of the community. At the present time there
are only 12 acres of land available for development in the Northwest Industrial Park.
The City's Comprehensive Plan and associated land use plans have shown the subject area for
industrial land use and for expansion of the City's industrial park.
FISCAL IMPACT
In December the City purchased 80 acres of land adjacent to the Southwest Industrial Park, at a
purchase price of $14,000 an acre. The subject property is approximately 87.5 acres in size,
which at $14,000 an acre, provides for a purchase price of $1,225,000. The separate Resolution
on the borrowing will include the acquisition price plus associated closing costs.
According to Finance Director Peggy Steeno, funds for this purchase will be borrowed from the
State Trust Fund. The City will repay the borrowing over time through the sale of the land for
the industrial development that will occur in this area.
RECOMMENDATION
It's recommended that the Council authorize the purchase of and borrowing for the Boschwitz
property for the future expansion of the Northwest Industrial Park.
Approved,
City Manager
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