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REDEVELOPMENT AUTHORITY OF THE CITY OF OSHKOSH APRIL 20, 2010 10-10 RESOLUTION (CARRIED_______ LOST _______ LAID OVER _______ WITHDRAWN _______) PURPOSE: AMEND DEVELOPER AGREEMENT WITH
OSHKOSH RIVER DEVELOPMENT LLC FOR PURPOSE OF ALLOWING CONVEYANCE OF PROPERTY IN THE MARION ROAD/PEARL AVENUE REDEVELOPMENT AREA TO OTHER ENTITIES WHEREAS, the Redevelopment Authority
(RDA) and City of Oshkosh previously approved a Development Agreement, as amended, with Oshkosh River Development LLC for disposition and development of development areas in the Marion
Road/Pearl Avenue Redevelopment Phase II Area; and WHEREAS, said Development Agreement requires that the development areas be conveyed to Oshkosh River Development who could then convey
the property to another entity, and WHEREAS, the proposed senior housing facility, known as ‘The Rivers’, will be funded in part with WHEDA funds and a condition of the WHEDA tax credit
purchase is that the RDA/City must convey the parcel directly to the entity that will oversee the the facility; and WHEREAS, similar concerns may occur as development proceeds under
said Agreement with Oshkosh River Development; and WHEREAS, Oshkosh River Development will maintain control during construction of the projects; and WHEREAS, it is proposed to amend
said Development Agreement with Oshkosh River Development to address conveyances of development areas to other entities for the purpose of facilitating financing for the projects consistent
with the intent of the Development Agreement as Amended and Restated. NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Authority of the City of Oshkosh that the appropriate Authority
officials are hereby authorized and directed to prepare and execute any necessary documents to modify the Development Agreement, as Amended and Restated, and to address conveyances of
development areas to other entities for the purpose of facilitating financing within the Marion Road Pearl Avenue Redevelopment Area for approved projects consistent with the intent
of the Development Agreement, as Amended and Restated.