The URL can be used to link to this page

Home My WebLink About11-324JULY 13, 2011 11 -324 RESOLUTION (CARRIED 6 -1 P LOST LAID OVER WITHDRAWN ) PURPOSE: APPROVE ACQUISITION OF PROPERTY IN THE AMOUNT OF $625,000.00 AT 2449 STATE ROAD 44 FOR EXPANSION OF THE UNIVERSAL BUSINESS PARK INITIATED BY: CITY ADMINISTRATION BE IT RESOLVED by the Common Council of the City of Oshkosh that the proper City officials are hereby authorized and directed to purchase the property at 2449 State Road 44 for expansion of the Universal Business Park for the purchase price of Six Hundred Twenty -Five Thousand Dollars and NO /100 ($625,000.00) and the proper City officials are authorized to execute any and all documents necessary for purposes of same. Money for this purpose is hereby appropriated from Account No. 527 - 1040 - 1702 -00000 TIF #7 Fund — Land. UNIVERSAL Ob� 1�X Y • X X x" 2 X X v ,x F LLI y f x Yr X ❑ X ,cn u X Of - . � iv � w W. WAUKAU AVE. z LJ b3) 2a ,• 3Wt Rl51 AE1 0 �uJ ag Ej C 6 m 0 $ J o W 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 o a d 44 This drawing is a compilation of records, data f HK�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 City of Oshkosh. Scale. 1 " = 300' Created by - D 7/7/11 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 #7 is closed in 2016, additional property value will be put on the tax roll. RECOMMENDATION The City Council approves the proposed acquisition. Approved, . K -- i�> City Manager M-3PD O �. 'P Ntk Subject Site M - 3 UNIVERSAL K2 DR 'T. �73 G LEGEND I Property Lines U- [3 Zoning Boundaries zoning Designation Subject Property I Acquisition of 2449 State Road 44 Universal Business Park Expansion O-fHKOfH Scale: 1 300' N THE WATER Zoning Map Source: City of Oshkosh GIS r _ • r r� IMFMM • • t • • Subject Site Ni • • t r i W. A mi % 1 zfto - • t rr M LEGEND �, .. �' GJ • 0 Property Lines Subject Property • „ • Storm Sewer ��. �y mss � �+ mm rn ie? ,f ... • a fflflrfflM+ ' Sanitary Sewer x ,� �� • N Water At Acquisition of 2449 State Road 44 Universal Business Park Expansion OJ O ON THE WATER Public Utility Locations Scale: 1" = 300' Source: City of Oshkosh GI 11,,11 m k . . „ 9 a_ �r f LEGEND O,fHKOlH ON THE WATER a] Property Lines Subject Property (D Scale: 1" = 300' Source: City of Oshkosh GIs City of Oshkosh Property Assessor's Page 1 of 2 PARID:1329450000 ROADWAY EXPRESS INC 2449 STATE ROAD 44 Parcel Information Address 2449 STATE ROAD 44 Class COMMERCIAL Zoning M -3 Owner 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 2010 Frontage $153,500.00 Effective Depth $497,300.00 Square Feet 371567 Acres 8.53 Shape 25- APR -83 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.usloshkosh iasIFormsIPrintDatalet.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 ias /Forms /PrintDatalet.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 Search f Select Language _Mj Powered by C;oagk" Translate Page 1 of 2 H . ,3 I Want To... Government Departments E- Services Citizen Input Newsletter About Us 4th Date Date Real Estate Tax First Total Parcel ID 'Address Last Name Name Year Due Credit Assessor Information rb Back to Real Estate Inquiry Page ROADWAY 2009 $14,872.73 $0.00 $56.15 $14,816.58 ROAD 44 Calendar of Events Lookup by Parcel ID Payment Due Elections Click on the Parcel ID to see Detail Tax Bill Information 00 /00 /0000 $0.00 00 /00 /0000 $14,816.58 $0.00 . ............. .................................................................................. --- ............ . ....... _ ... .........._...._....... Tax Year 2008 _ ...... ....._................................. Tax Year 2010 _ ....... ....._...................... _ Employment First Tax Total Taxes Lottery First Total Parcel ID Parcel ID Address Last Name Name Year Due 'Credit Credit Payments Fire Department 1329450000 _ 2008 $14,563.60 $0.00 $28.81 1329450000 2449 STATE ROADWAY 2010 $15,584.05 $0.00 $59.52 $15,524.53 Meeting Notices ROAD 44 EXPRESS INC 1st 2nd Date Date Municipal Codes 1st 2nd 3rd Date Date 4th Date Date Net Balance Quarter Paid Paid Quarter Quarter Quarter Paid Paid Quarter Paid Paid Taxes Due Pay Your Bill Online ', Payment 'Payment Payment Payment Due Payment Due $15,524.53 1/24/2011 $0.00 00 /00 /0000 $0.00 00/00/0000 $0.00 00/00 /0000 $15,524.53 $0.00 Police Department $0.00 Tax Year 2007 Osh -Buy Weather Observation 4shk 77 °F A— VWeYmr. —r Weather Forecast 6410"J", Ej Tax Year 2009 _ 2nd Date Date 3rd 4th Date Date First Tax Total Taxes Lottery First Total Parcel ID 'Address Last Name Name Year Due Credit Credit Payments 1329450000 2449 STATE ROADWAY 2009 $14,872.73 $0.00 $56.15 $14,816.58 ROAD 44 EXPRESS INC Payment 1st 2nd Date Date 3rd 4th Date Date Net Balance Quarter Quarter Paid Paid Quarter Quarter Paid Paid Taxes Due Payment Payment Payment Payment Due $14,816.58 1/2912010 $0.00 00/00 /0000 $0.00 00 /00 /0000 $0.00 00 /00 /0000 $14,816.58 $0.00 . ............. .................................................................................. --- ............ . ....... _ ... .........._...._....... Tax Year 2008 _ ...... ....._................................. .......................... ........._...._ .................. ..................................... _ ....... ....._...................... ............ 'Address First Tax Total Taxes Lottery First Total Parcel ID Last Name Name Year Due Credit Credit Payments 1329450000 2449 STATE ROADWAY 2008 $14,563.60 $0.00 $28.81 $14,534.79 ROAD 44 EXPRESS INC 1st 2nd Date Date 3rd 4th _ Date Date Net Balance Quarter Quarter Paid Paid Quarter Quarter Paid Paid Taxes Due 'Payment Payment Payment Payment Due $14,534.79 1/30/2009 $0.00 00 /00 /0000 $0.00 00 /00 10000 $0.00 00 /0010000 $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 9st 2nd Date Date 3rd 4th Date Date Net Balance Quarter Paid Quarter Paid Quarter Paid Quarter Paid Taxes Due Payment : Payment Payment Payment Due $14,369.66 12/28/2007 $0.00 00 /00 /0000 $0.00 00 100 /0000 $0.00 00 100 /0000 $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.uslwebinfol Real _EstatelReal_Estate_ParID.asp ?parid= 1329450000 7/7/2011 City of Oshkosh - E- Services - City Information Lookup - Real Estate Tax Page 2 of 2 1329450000 ! 2449 STATE ROADWAY 2006 $14,024.74 $0.00 $0.00 $14,024.74 ROAD44 ; EXPRESSINC First Total Parcel ID Address Last Name Name Year Due Credit 1st 2nd _ Quarter Date Quarter Date 3rd _ 4th Quarter Date Quarter Date Net Taxes Balance Paid Paid Payment 'Payment Paid Paid Payment Payment Due Due $14,024.74 1/19/2007 $0.00 00/00/0000 $0.00 00/0010000 $0.00 00/00/0000 $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 EXPRESSINC 1st 2nd Date Date 3rd 4th Date Date Net Balance Quarter Quarter Paid Paid Quarter Quarter Paid Paid Taxes Due Payment Payment Payment Due $13,608.23 1/26/2006 $0.00 00/00/0000 $0.00 00 /00/0000 $0.00 00 100/0000 $13,608.23 $0.00 Tax Year 2004 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 1st 2nd_ _ 3rd 4th Net Quarter Date Quarter Date Quarter Date Quarter Date Taxes Balance Payment Paid Payment Paid Payment Paid Payment Paid Due Due $2,437.37 1/31/2005 $2,437.35 3128/2005 $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 31st, 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.winnebago.vA.usitreasurer/proi)erty-information Back to Real Estate Inquiry Page 21 5 Church Avenue • P.O. Box 1130 Oshkosh, WI 54903 -1130 • Phone Number 920.236.5000 City Hall Hours Monday - Friday: 6.00 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. %t1Ti41 ? Cos Reader http: / /www.ci.oshkosh.wi.uslwebinfol Real _EstatelReal_Estate_ParID.asp ?parid= 1329450000 7/7/2011