HomeMy WebLinkAbout09-93MARCH 24, 2009 09 -93 RESOLUTION
(CARRIED 4 -2 LOST LAID OVER WITHDRAWN )
PURPOSE: APPROVE LAND PURCHASE AT 1805 JACKSON STREET &
RELOCATION OF THE KFC RESTAURANT / JACKSON STREET &
MURDOCK AVENUE INTERSECTION IMPROVEMENT PROJECT
($1,517,500.00)
INITIATED BY: DEPARTMENT OF PUBLIC WORKS
WHEREAS, on September 11, 2007 and December 8, 2008 by Resolutions 07 -260
and 08 -469, the Common Council previously approved a Relocation Order, Revised
Relocation Order and Determination of Necessity, pursuant to Sections 32.05, 32.06,
32.07 and 62.22 of the Wisconsin Statutes declaring that it was in the public interest for
the City of Oshkosh to acquire the property located at 1805 Jackson Street as part of the
Jackson Street and Murdock Avenue Intersection Improvement Project; and
WHEREAS, the parties have concluded negotiations for a purchase price of
$1,286,500.00 for the real estate, $90,000.00 for fixtures and $141,000.00 for relocation
expenses.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
Oshkosh that the proper City officials are authorized and directed to purchase 1805
Jackson Street for the purchase price and costs listed above, and to execute any and all
documents necessary for purpose of the same.
Money for this purpose is appropriated from:
Acct. No. 315 - 0410 - 7480 -00000 Street Improvement Fund Expenditures
CITY HALL
215 Church Avenue
P.O. Box 1130
Oshkosh, Wisconsin
54903 -1130
OIHQfH
TO:
FROM:
DATE:
RE:
City of Oshkosh
Honorable Mayor and Members of the Common Council
David C. Patek, Director of Public Works
March 19, 2009
Purchase of the Kentucky Fried Chicken (KFC) Restaurant
BACKGROUND
In 2007, the City of Oshkosh entered into an agreement with the State of Wisconsin
Department of Transportation (WIDOT) to reconstruct the intersection of Murdock
Avenue at Jackson Street (US Hwy 45 /STH 76). This agreement requires the City to be
the lead agency for any easement or land acquisitions and it establishes a funding ratio
of 75% - WIDOT / 25% - City for the real estate acquisition expenses. The KFC
Restaurant needs to be acquired to allow for the reconstruction of this intersection.
ANALYSIS
The purchase of the KFC Restaurant involves the land acquisition and the relocation of
the tenant running the restaurant franchise. The acquisition costs are broken out as
follows:
Real Estate: $1,286,500 to CNL APF Partners, LP
Fixtures: $ 90,000 to H & K Partners, LLC
Relocation: $ 141,000 to H & K Partners, LLC
FISCAL IMPACT
Funding for these acquisitions are included in the Street Construction Section of the
2008 Capital Improvement Program. The City's maximum share for this acquisition will
be $376,655.00.
RECOMMENDATION
Staff recommends approval of this resolution.
Respectfully Submitted,
C— P144C
David C. Patek
Director of Public Works
Approved:
Mark A. Rohloff
City Manager
Q: