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RDA Minutes 1 January 3, 2007 REDEVELOPMENT AUTHORITY of the City of Oshkosh MINUTES January 3, 2007 4:00 pm PRESENT: Thomas Belter, John Bermingham Jr., William Castle, Sheldon Lasky,
Archie Stam EXCUSED: Steve Hintz, Robert Pung STAFF: Jackson Kinney, Executive Director/Director of Community Development; Darlene Brandt, Recording Secretary The meeting was called
to order at 4:00 pm by Vice-Chairman Belter. Consent Agenda Treasurer's Report: Bills were presented in the amount of $16,961.55 Secretary’s Report: None Motion by Bermingham. Seconded
by Castle. Motion carried by voice vote. Res. 07-01 Option Agreement; Master Development Agreement Term Sheet /Akcess Acquisition Group – Marion Rd./Pearl Ave. Redevelopment Area Mr.
Kinney noted this is the product of the RDA's October, 2006 meeting by accepting the proposal submitted by Akcess Acquisition Group/Cherokee Investments. Referring to page 2 of the term
sheet, Mr. Stam inquired how the mile stones were arrived at? Mr. Kinney replied they are based on the lease revenue bonds (LRBs) already approved by the RDA and City, as well as future
bond issues relating to riverwalk improvements, sea wall improvements, etc. Also, the RDA's/City's financial consultants looked at issues relative to the overall development and costs
associated with that development. Mr. Belter inquired what happens on July 10th? Mr. Kinney stated if Akcess wishes to follow through with the purchase, they will need to notify the
City/RDA of their intention to exercise the option. According to the Term Sheet document in order for Akcess to close on the lease/purchase and/or purchase of parcels they will need
to have a plan approved for a given parcel, and met the provisions for closing as set forth in the Term Sheet document. Mr. Bermingham inquired if 6 months is enough time to put something
together? Mr. Fred Rikkers, Akcess Acquisition Group, stated they have been working on this for the past few months. They have already talked to a bank, health care provider, grocery
store, and others that have expressed interest in the development. They're hoping 6 months is enough time to get the interest they need. Mr. Rikkers continued the infrastructure will
be the biggest hurdle. Currently, the City does not charge for parking in a ramp. Akcess plans on building a parking ramp that they will not be able to charge for parking. This could
have an impact on their financial end, and Akcess may have to request financial assistance from the RDA/City.
RDA Minutes 2 January 3, 2007 Mr. Kinney noted Akcess will also want the City to proceed with the riverwalk improvements. Mr. Rikkers stated the whole process needs to make sense to
the community. The City has made a commitment to upgrade the downtown and Akcess/Cherokee wants to be a part of that. Akcess/Cherokee is spending a lot of time and money on this project
and they're hoping, and asking, for the RDA's support. Motion by Castle. Seconded by Bermingham. Motion carried 5-0. Public Hearing – Disposition of Property /223 Merritt Avenue Vice-Chairman
Belter opened the public hearing portion of the meeting. Mr. Kinney stated this property was purchased by the RDA and the home razed. Staff is recommending the property be sold for construction
of an affordable handicapped accessible single family owner occupied home. Mr. Stam inquired is there adequate room to maneuver on the lot? Ms. Kepplinger replied yes. Vice-Chairman
Belter closed the public hearing portion of the meeting. 07-02 Disposition of Property Property /223 Merritt Avenue Ms. Kepplinger stated staff met with representatives from Winnebago
County Social Services and Options for Independent Living to discuss redevelopment options for this lot. A partnership was formed to develop the first affordable, accessible, neotraditionally-designe
d single family home in Oshkosh. Both the County and Options are contributing funding and Options is providing design assistance. The County has identified a qualifying lowincome purchaser,
and Options has a qualified builder. In order to make the home more affordable, staff is proposing the lot be provided free of charge. Mr. Bermingham asked if disposition without receiving
a fair market value price would set a precedent? Mr. Kinney stated he did not believe this would set a precedent. Community development block grant funds were used to acquire the property,
and the final outcome will benefit a low to moderate income handicapped family, which is an eligible activity under the block grant program. Motion by Castle. Castle. Seconded by Lasky.
Motion carried 5-0. There being no further business, the meeting adjourned at approximately 4:25 pm (Bermingham/Castle). Respectfully submitted Jackson Kinney Executive Director/Director
of Community Development