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3-18-2009 RDA Minutes 1 Redevelopment Authority of the City of Oshkosh Minutes March 18, 2009 PRESENT: Thomas Belter, John Bermingham, Ben Schneider, Don Simons, Archie Stam, Frank Tower
EXCUSED: Steve Hintz STAFF: Jackson Kinney, Director of Community Development; Darlene Brandt, Recording Secretary Chairman Belter called the meeting to order at 4:00 pm. Roll call was
taken and a quorum declared present. Consent Agenda Minutes: February 25, 2009 Treasurer's Report: None Secretary's Report: None Motion by Bermingham to move approval of consent agenda.
Seconded by Tower. Motion carried by voice vote. 09-02 Amend Developer Agreement Terms with Oshkosh River Development LLC Mr. Kinney noted the following amendments to the development
agreement are being requested by Oshkosh River Development: Extend due diligence period to June 20, 2009. Give City/RDA the option of undertaking river edge/riverwalk improvements in
time frame to coincide with development projects in riverfront area, and give the City/RDA discretion on when to construct public transient docking facilities. Set six month time frame
for RDA to solicit proposals for Development Area 2 for hotel project. If City/RDA does not enter into an agreement with developer for hotel project by September 30, 2009, Oshkosh River
Development will have right for conveyance of Development Area 2 under same terms and conditions as for other Development Areas/parcels subject to Development Agreement. Oshkosh River
Development could then pursue a hotel project itself, a commercial or residential project, or some combination of commercial/residential development in Development Area 2. Modifying
valuation threshold schedule: FROM – Having Oshkosh River Development complete valuation of $12 million by end of 2009, and total aggregate valuation of $27 million by end of 2012 (if
they exercise option on area north of Marion Road).
3-18-2009 RDA Minutes 2 TO – Setting new overall aggregate valuation for Phase II Area (including potential hotel site) of $28.3 million, to come on line in four time periods: $3 million
by end of 2009; $10 million additional valuation by the end of 2010; $5 million additional valuation by the end of 2011; and $10.3 million additional valuation by the end of 2012. If
City/RDA secures hotel development for Development Area 2 by 9/30/09, projected valuation for hotel would be expected to be completed in 2010/2011, and valuation attributable to Oshkosh
River Development would be adjusted accordingly. Further revision would lower valuation threshold schedule if City/RDA receives grant funds that could reduce borrowing needs for Lease
Revenue Bond (LRB) for river edge/riverwalk improvements in Phase II Area. If grant funds were received, this could lower amount of valuation needed in 2012 (i.e., noted $10.3 million
figure). Dropping option provision that gave Oshkosh River Development until December 31, 2012 to exercise option and proceed with project implementation in area north of Marion Road
TO having area north of Marion Road included in conveyance of parcels under Development Agreement. Modifying Map Exhibit A to show four overall Development Areas and enabling adjustments
to be made in location of final parcel lines for Development Areas. Requiring enhanced public green space (with walkway and sitting areas) between parcels in Development Areas 1 and
2, or Development Areas 2 and 3, to connect sidewalks on Marion Road with the riverfront trail. Mr. Art Dumke stated they should hear from WHEDA by mid-April on their elderly housing
application. He felt that the proposed elderly housing complex will jump start development in the rest of the redevelopment area. Mr. Tower noted it appears the total valuation would
be $28.3 million in development. This will meet the development stipulations? Mr. Kinney replied yes. Mr. Kinney noted there may be about a $600,000 cost savings to the RDA as well due
to the DNR requiring riprap versus sheet pile wall along the riverfront as part of the riverwalk. Mr. Simons inquired if the RDA/City has requested hotel development proposals yet? Mr.
Kinney replied no. Staff felt it was appropriate to wait to hear from WHEDA and approval of the proposed development amendments. Mr. Schneider inquired if the original development agreement
had more than one residential component? Mr. Kinney replied no. Mr. Schneider stated the WHEDA project would be on a water front parcel and another possible residential project on the
north side of Marion Road would be what? Age 55 and older?
3-18-2009 RDA Minutes 3 Mr. Kinney stated the other residential project has not been identified at this time and could be income based tenancy. That is one of the reasons for the amendment
– to allow the developer time to see what will fit best. Mr. Schneider was concerned about increasing residential uses in this area that are competitive. However, he felt the WHEDA project
is good and would fit a niche in the market. Mr. Bermingham did not feel a WHEDA project is the highest and best use of riverfront property. Mr. Dumke stated there will be on-site management
and this will not be a trailer trash type development. Motion by Tower to move Res. 09-02. Seconded by Simons. Motion carried 5-1 (Nay: Schneider) Res. 09-03 Determination of Necessity;
Establish Fair Market Value; Authorize Acquisition – 665 Jefferson Street Mr. Kinney noted the property owner had approached staff about acquiring this property. Motion by Bermingham
to move Res. 09-03. Seconded by Tower. Motion carried 6-0. Res. 09-04 Disallow Claim Claim by Jerry Wright Mr. Kinney stated the RDA's insurance carrier recommends denial of the claim.
Motion by Bermingham to move Res. 09-04. Seconded by Tower. Motion carried 6-0. There being no further business, the meeting adjourned at approximately 4:20 pm (Stam/Tower). Respectfully
submitted, JACKSON R. KINNEY Executive Director, RDA /Director of Community Development