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CITY OF OSHKOSH REDEVELOPMENT AUTHORITY MINUTES July 21, 2004 4:30 PM PRESENT: Thomas Belter, John Bermingham Jr., Mark Harris, Robert Pung, John Ruppenthal EXCUSED: Sheldon Lasky, Karen
Matze STAFF: Jackson Kinney, Director of Community Development; Darlene Brandt, Recording Secretary The meeting was called to order at 4:30 pm by Chairman Ruppenthal. It was noted that
due to unforeseen circumstances, two members would need to leave around 5 pm. Today's meeting would only be the presentation by Concord Development. Approval of Consent Agenda Motion
by Pung, seconded by Bermingham to approve the Consent Agenda. Motion carried 4-0. Mr. Belter arrived at this time. Presentation by Concord Development Company /Parcel G – Marion Road/Pearl
Avenue Redevelopment Project Area Mr. Peter Jungbacker of Alexander & Bishop and Mr. Fred Bersch of Concord Development appeared before the RDA. Mr. Jungbacker stated this will be a
joint effort between Alexander & Bishop and Concord Development, as was the Concord Place development. Mr. Jungbacker noted their proposal calls for two 51 unit three story structures,
with underground parking as well as surface parking. Each unit will contain 2 bedrooms and 2 full baths. Based on their experience with the previous development (Concord Place), each
unit will have its own balcony. This new development would also be more upscale than Concord Place. There will also be an on-site community room that will be available for meetings and
other activities. Mr. Bersch stated that with Concord Place they focused on a mix of students, faculty and professionals. With this new proposal, they would like to see more professionals.
The development will be completed in phases with the building on the west side of the site completed first. Mr. Bersch and Mr. Jungbacker indicated they would expect to see construction
completed on the first building in the Spring of 2006. Mr. Jungbacker noted that 49 units are currently leased at Concord Place and the remaining 9 should be leased by September. Concord
Place was slow to fill up due to a couple of factors – low interest rates attracted a lot of new home buyers, and Concord Place was completed in the fall when tenant turnovers are very
low. This new development will involve an approximate $7 million investment, with about $1 million in equity. It was the consensus of the RDA members present that the proposal as presented
would be more upscale and would fit well into the overall redevelopment area. There was discussion on the RDA's preference to vote on this issue today or at a later date. Mr. Kinney
noted it was acceptable for the RDA to vote on the item today if they wished. He distributed a draft resolution that could be approved which requests that the City dispose of Parcel
G to Concord 30 LLC and that a developer's agreement be drafted for the RDA's consideration.
Redevelopment Authority Minutes Page 2 July 21, 2004 Motion by Bermingham to request that the City approve of the disposition of Parcel G to Concord 30 LLC based on the proposal submitted
today and that a developer's agreement be drafted for the RDA's consideration. Mr. Kinney stated that if this is approved today, the next step will be going before the Plan Commission
for a conditional use permit for a planned development review and then to Council for the land disposition and final conditional use permit approval. Mr. Harris stated he had been concerned
about the influx of more apartments into the market. However, with the proposal for more of an upscale development targeted toward professionals and not just a student population, he
felt the proposal would be a benefit to the area. Motion seconded by Pung. Carried 5-0. There being no further business, the meeting adjourned at approximately 5:15 pm. Respectfully
submitted, Jackson R. Kinney Director of Community Development/Executive Director