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Home My WebLink About11-306e UNIVERSAL ., 4 Y \ Y Y X $ x Pm .l X l DR. \F ❑ LLJ El x ZQ0 0— W W. WAUKAU AVE. z 0 Ej IDS a5t O 0 0 N-� K'X �' w fm M I�I s ) .i' DISCLAIMER Acquisition for Business Park Expansion This map is neither a legally recorded map nor -------------------------------------- a survey and it is not intended to be used as one. 2449 State R 44 This drawing is a compilation of records, data 1 HK 1 H and information located in various city, county ON THE WATER and state offices and other sources affecting the area shown and it is to be used for reference City of Oshkosh purposes only. The City of Oshkosh is not re Department Of sponsible for any inaccuracies herein contained. If discrepencies are found, please contact the Community Development Scale: 1" = 300' Cit of Oshkosh. Created by - D 7/7111 TO: Honorable Mayor and Members of the Common Council FROM: Allen Davis, Community Development Director DATE: July 6, 2011 SUBJECT: Property Acquisition — Universal Business Park expansion BACKGROUND The City purchased and developed the Universal Business Park along STH 44. The property to the west of the Park is owned and had been operated by Roadway Express. This facility is now closed and the vacant trucking terminal remains. Roadway Express has offered the property for sale. The City, in concert with OAEDC, has negotiated a sales price for the property. The plan would be to demolish the trucking terminal and sell the land for future Business Park users or a corporate headquarters. ANALYSIS Since 1993, the City and OAEDC have successfully developed and sold land in the Universal Business Park: • OAEDC has sold 42 of 50 acres. There is no frontage left on STH 44. • The current tax base is about $19,500,000. • Land sales to date total $2,200,000, average sales price of $52,000 /acre. • It is currently home to over 40 businesses, contained in 16 Class A office buildings totaling over 136,000 sq.ft. • Land fronting on STH 44 has sold for $2.50 /sq.ft. There are current conditions and concerns with the Universal Business Park: • There is limited land available in the Universal Business Park for expansion. • Roadway Express terminal is for sale. • This is an opportunity to improve appearance of a major Gateway to the City. • The trucking terminal or potential industrial use is not compatible with the office uses in the Business Park. • The City needs a parcel for a possible Corporate Headquarters site in the City. • There is a need for more land with access to STH 44. The specifics of the Roadway Express property are as follows: • The Roadway property totals 8.5 acres. • The proposed purchase price is $625,000, under full market value of $663,400. • Demolition/environmental /legal costs are estimated to be $75,000. • Total estimated cost is $700,000. • Tax Increment Finance (TIF) District # 7 has approximately $9,000,000+ cash to fund the proposed purchase and site preparation. • TIF expenses must be completed in July, 2011. • The projected sales price of $2.50 /sq.ft. could yield $925,000. • OAEDC's 16% commission would total $148,000. Sales $925,000 Land - 625,000 Demolition -75,000 Commission - 148,000 Est. Net Gain $ 77,000 on purchase City's share of TIF "holding costs" of 3% for the land would equal to about $10,000 /year. (interest on the TIF fund balance) The property taxes not paid on the property due to City ownership would be $15,500 /year. The projected results for the property development are: • Development of about 40,000 sq.ft. of office space. • Added tax base of about $6,000,000 at $150 /sq.ft. • Added property tax revenue of about $138,000 /year. • One employee per 500 sq.ft. equal to 80 employees. • Income of $35,000 per employee equal to $2,800,000 annually. FISCAL IMPACT The Tax Increment Finance District #7 account has sufficient funds for the purchase. There is no impact on the City budget or levy. When Tax Increment Finance District 97 is closed in 2016, additional property value will be put on the tax roll. RECOMMENDATION The City Council approves the proposed acquisition. Approved, �r� � City Manager M -3 \ 5 M -3PD O� ,O -_ UNIVERSAL C-2 D O LEGEND R -3 0 Property Lines Zoning Boundaries R Zoning Designation Subject Property Acquisition of 2449 State Road 44 (1 Universal Business Park Expansion Q.!'HKOlH Scale: 1 " = 300' ON THE WRIER Zo ning M a p Source: City of Oshkosh GIS i s � • • i • • NIVERSAL • w Dr • • • • Subject • Site • i bry xs, • s � � � a!" - s i i i r - W. A ' ! a ! 's • - s yr} • E yyev yet Ae! _ °i' SKI 'Afl J �� • s LEGEND Property Lines Subject Property Storm Sewer -- r • � s - r . r •• •••rrr ; Sanitary Sewer �• ._ • - -- ma ilea as, a,eo m]e - ],n , Water Acquisition of 2449 State Road 44 Universal Business Park Expansion O.IHKOlH WATER ON THE war Public Utility Locations Scale: o f = 300' Source: City of Oshkosh GI 22 a ME s. IJ ,Ir P 4 i �. V J g w u- 1� ��. A A . E a � 1 rig LEGEND 11-1 - Property Lines Subject Property Acquisition of 2449 State Road 44 (D QY H MfH Universal Business Park Expansion Scale: 1" = 300' ON THE WATER Aerial View (April 2009) Source: City of Oshkosh GIS City of Oshkosh Property Assessor's Page 1 of 2 PARID: 1329450000 2011 ROADWAY EXPRESS INC 2449 STATE ROAD 44 Parcel Information $497,300.00 Address 2449 STATE ROAD 44 Class COMMERCIAL Zoning M -3 Owner ROADWAY EXPRESS Name ROADWAY EXPRESS INC In Care Of C/O STATE TAX DEPT Address PO BOX 471 Unit # $650,800.00 City AKRON State OH Zip Code 44309 Lot Size 0589322 Frontage Effective Depth Square Feet 371567 Acres 8.53 Shape Legal Description Desc E 462.98 FT OF SE1 /4 SW1 /4 SEC 33 LYG SELY OF RIPON RD & N OF W WAUKAU AVE Current Assessed Values Assessment Year 2011 Land $153,500.00 Building $497,300.00 Total $650,800.00 Fair Market Value $663,400.00 (set by State of WI in fall) 11880 Prior Assessed Values ROADWAY EXPRESS Assessment Year 2010 Land $153,500.00 Building $497,300.00 Total $650,800.00 Sales Date 25- APR -83 Price $245,000.00 Document # 0589322 Deed Type Grantor Grantee ROADWAY EXPRESS INC Sales Notes Commerical Building # 01 No. of Living Units Year Built 1978 Stories 2 Structure Type TRANSIT WAREHOUSE Total Area 11880 Improvement Name ROADWAY EXPRESS No. of Identical Units http: / /www.ci.oshkosh.wi.usl oshkosh _ias /FormsIPrintDatalet.aspx ?pin = 1329450000 &gsp =... 7/7/2011 City of Oshkosh Property Assessor's other Buildings and Yard Improvements Building #( Card #) 1 Description LIGHT - PARKING LOT Year Built 1978 Width Length Area 1 Units 11 Page 2 of 2 http: / /www.ci. oshkosh. wi. us/ oshkosh_iasIFormsIPrintDatalet. aspx ?pin = 1329450000 &gsp =... 7/7/2011 City of Oshkosh - E- Services - City Information Lookup - Real Estate Tax Home I Contact Us I External Links r" - Search Select Language Powered by gk' Translate Page 1 of 2 Imw I Want To... Government Departments E- Services Citizen Input Newsletter About us Real Estate Tax First Tax Year 2009 Assessor Information 6 Back to Real Estate Inquiry Page Parcel ID 'Address Last Name Name Year ! Due Credit Calendar of Events Lookup bV Parcel ID Tax Total Taxes Lottery First Total Elections Click on the Parcel ID to see Detail Tax Bill Information Name Year Due Credit Credit Payments Tax Year 2010 1329450000 2449 STATE ROADWAY 3rd Quarter 2009 $14,872.73 $0.00 Employment First Tax Total Taxes Lottery First Total Due Parcel ID Address Last Name Name Year Due Credit Credit Payments Fire Department Weather Forecast 1St 2nd Date Date Quarter Quarter 1329450000 2449 STATE ROADWAY 2010 $15,584.05 $0.00 $59.52 $15,524.53 Meeting Notices ROAD 44 EXPRESS INC Paid Paid Due Payment Payment Due 00/00 /0000 $14,816.58 $0.00 - $14,816.58 1/2912010 $0.00 00/00 /0000 Municipal Codes 1st 2nd 3rd Date Date 4th Date Date Net Balance ROAD 44 EXPRESS INC Quarter Paid Quarter Paid Quarter Paid Quarter Paid Taxes Due Pay Your Bill Online Payment Payment Payment Payment Due Paid Paid Payment Payment Paid Paid Payment Payment $15,524.53 1/2412011 $0.00 00 /00 /0000 $0.00 00/00 /0000 $0.00 00 /00 /0000 $15,524.53 $0.00 Police Department _ _ Osh -Buy First Tax Year 2009 First Total Parcel ID 'Address Last Name Name Year ! Due Credit Credit First Tax Total Taxes Lottery First Total Weather Observation Parcel ID Address Last Name Name Year Due Credit Credit Payments 1329450000 2449 STATE ROADWAY 3rd Quarter 2009 $14,872.73 $0.00 $56.15 $14,816.58 a , hk ,, h ROAD44 EXPRESSINC Paid Paid Payment Due Due $14,534.79 1/30/2009 $0.00 00 /00 /0000 $0.00 77 °F $0.00 Tax Year 2007 Weather Forecast 1St 2nd Date Date Quarter Quarter 3rd Quarter 4th Date Date Quarter Net Taxes Balance ,z Paid Paid Payment Payment Paid Paid Due Payment Payment Due 00/00 /0000 $14,816.58 $0.00 - $14,816.58 1/2912010 $0.00 00/00 /0000 $0.00 00 /00/0000 $0.00 2007 $14,369.66 $0.00 $0.00 Tax Year 2008 First Tax Total Taxes Lottery First Total Parcel ID 'Address Last Name Name Year ! Due Credit Credit Payments 1329450000 2449 STATE ROADWAY 2006 $14,563.60 $0.00 $28.81 $14,534.79 ROAD 44 EXPRESS INC 1st 2nd Date Date Quarter Quarter 3rd Quarter 4th _ Date Date Quarter Net Taxes Balance Paid Paid Payment Payment Payment Paid Paid Payment Due Due $14,534.79 1/30/2009 $0.00 00 /00 /0000 $0.00 00/00/0000 $0.00 00 /00 /0000 $14,534.79 $0.00 Tax Year 2007 First Tax Total Taxes Lottery First Total Parcel ID Address Last Name Name Year Due Credit Credit Payments 1329450000 2449 STATE ROADWAY 2007 $14,369.66 $0.00 $0.00 $14,369.66 ROAD 44 EXPRESS INC 1st _ 2nd _ Date Date Quarter Quarter 3rd 4th _ Date Date Quarter Quarter Net Taxes Balance Paid Paid Payment Payment Paid Paid Payment Payment Due Due $14,369.66 12/28/2007 $0.00 00 /00 /0000 $0.00 00 /00 /0000 $0.00 00 /00 10000 $14,369.66 $0.00 Tax Year 2006 Parcel ID 'Address Last Name First Tax Total Taxes Lottery First Total Name Year Due Credit Credit Payments http:// www. ci. oshkosh .wi.uslwebinfolReal_EstatelReal Estate ParID.asp?parid= 1329450000 7/7/2011 City of Oshkosh - E- Services - City Information Lookup - Real Estate Tax 2nd Date Page 2 of 2 1329450000 2449 STATE ROADWAY 2006 $14,024.74 $0.00 $0.00 $14,024.74 ROAD 44 EXPRESS INC Credit Payments 1329450000 2449 STATE ROADWAY 2004 $9,749.42 $0.00 1st 2nd 3rd Date Date 4th _ Date Date Net Balance Quarter Quarter Quarter Paid Paid Quarter Paid Paid Taxes Due Payment Payment Payment Payment Due $14,024.74 1119/2007 $0.00 00/00/0000 $0.00 00/00/0000 $0.00 00/0010000 $14,024.74 $0.00 Tax Year 2005 First Tax Total Taxes Lottery First Total Parcel ID !Address Last Name Name Year Due Credit Credit Payments 1329450000 2449 STATE ROADWAY 2005 $13,608.23 $0.00 $0.00 $13,608.23 ROAD 44 EXPRESSING 1st 2nd _ 3rd Date Date 4th Date Date Net Balance Quarter Quarter Quarter Paid Paid Quarter Paid Paid Taxes Due Payment Payment Payment Payment Due $13,608.23 1/26/2006 $0.00 00/00 /0000 $0.00 00 /00 /0000 $0.00 00/00 /0000 $13,608.23 $0.00 Tax Year 2004 2nd Date 3rd Date 4th _ Date First Tax Total Taxes Lottery First Total Parcel ID Address Last Name Name Year Due Credit Credit Payments 1329450000 2449 STATE ROADWAY 2004 $9,749.42 $0.00 $0.00 $9,749.42 ROAD 44 EXPRESS INC Payment Due list 2nd Date 3rd Date 4th _ Date Net Date Balance Quarter Quarter Paid Quarter Paid Quarter Paid Taxes Paid Due Payment Payment Payment Payment Due $2,437.37 1/31/2005 $2,437.35 3/28/2005 $2,437.35 3/28/2005 $2,437.35 3/28/2005 $9,749.42 $0.00 This screen reflects payments made to the City of Oshkosh for the current year tax bill through July 31 st only. After July 31st of each year, amounts remaining outstanding are transferred to Winnebago County. Payments made to Winnebago County are not reflected on this website. Please note that amounts showing in the 'Balance Due' column for previous years may or may not be paid. If a tax account is delinquent, interest will be added to the balance shown above. For the exact amount owing on current year taxes through July 31 st, please call the City of Oshkosh Collections Office at (920) 236- 5025. For the exact amount owing on prior year taxes, and current year taxes after July 31st, please contact the Winnebago County Treasurer's Office at (920) 2364777 or http' //www.co.winnebaao.wi.us/treasurerli)roi)erty-information 6 Back to Real Estate Inquiry Page 215 church Avenue • P.O. Box 1130 Oshkosh, WI 54903 -1130 • Phone Number 920.238.5000 City Hall Hours Monday - Friday: 8:00 a.m. - 4:30 p.m. m Copyright 2011 by the City of Oshkosh, Wisconsin All e-mail sent to the City of Oshkosh is subject to the Wisconsin open records law. �.. Reader _ ._ http: / /www.ci.oshkosh.wi.uslwebinfol Real _EstatelReal_Estate_ParID.asp ?parid= 1329450000 7/7/2011