HomeMy WebLinkAboutOAEDC-Universal Business Park AGREEMENT
WHEREAS, the City of Oshkosh owns certain lands within the corporate limits of the
City of Oshkosh and desires to sell such lands for business park development; and
WHEREAS, the Oshkosh Area Economic Development Corporation, is a non - profit
Wisconsin corporation committed to the economic development of the City of Oshkosh and
having the means and ability to work toward the development of land for business park uses;
NOW, THEREFORE, the City of Oshkosh, hereinafter referred to as the "CITY ", and
the Oshkosh Area Economic Development Corporation, hereinafter referred to as "OAEDC,"
in order to work towards the commercial development of the following described properties,
hereinafter referred to as the " BUSINESS PARK ", viz:
A. Universal Business Park
agree as follows:
1. The City agrees that by these presents, for and in consideration of Ten Dollars
($10.00) in hand paid, receipt of which is hereby acknowledged from OAEDC, has agreed
and does agree to hold until the thirty -first (31st) day of January, 2013 at 12:00 PM, time
being of the essence of this agreement, an option to purchase all of the premises owned by
the City of Oshkosh known as and consisting of the following:
A. Universal Business Park
and the City of Oshkosh covenants to convey by Warranty Deed any portion of said property
thereof at any time within the above time prescribed, to OAEDC or such person or persons
as OAEDC may direct for and at the price as shown on "Attachment B ", payable on delivery
of a Warranty Deed by the City, subject, however, to the further requirement that this option
shall be of no effect and no rights shall inure to OAEDC or any other person or persons
hereunder or by any purported exercise of this option, unless within the time written, notice of
exercise of this option shall be delivered to the City Attorney of the City. The purchase price
attached hereto includes, for all the premises, graded, graveled and paved streets, street
lights, sanitary sewer, water mains and storm sewers, as needed, and the extension of gas
and electrical service, excluding laterals.
2. OAEDC a non - profit organization, agrees:
(a) To attempt to work toward the commercial development of the land which
is the subject matter of this agreement.
(b) To sell land for uses as permitted in the approved Protective Covenants
and in accordance with the "Business Park Sales Policies and Guidelines"
(see Attachment A ").
(c) That they have adopted Protective Covenants for land sold hereunder and
before any changes to said covenants are adopted, they will be submitted
to the Oshkosh Common Council for review. OAEDC shall monitor the
enforcement of these Covenants and if a breach occurs which requires
repurchase, then in that event, OAEDC shall assign its right to repurchase
to the City.
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3. This Agreement may be assigned to a successor organization with written consent
of the City, which shall be given by the City Manager.
4. This agreement shall be terminable by either party by giving to the other party six
(6) months written notice of its desire to terminate.
IN WITNESS WHEREOF, the City of Oshkosh, Wisconsin, and OAEDC have
respectively caused this Agreement to be duly executed on this P'k day of
V- 4)1uc%r , 2011.
CITY OF OSHKOSH OSHKOSH AREA ECONOMIC
DEVELOP ENT CORP • RATION
By: By:
►i - `4. • off, City Manager Rob Iem. , r Director
And ' , _ r _�. _ `, - And: / ,A� _
Pamela R. Ubrig, City Clerk ( Tho - �� B - Iter, President
STATE OF WISCONSIN )
) ss.
WINNEBAGO COUNTY )
Personally came before me this / day of Kb' " ^w , 2011, the above named
Rob P. Kleman, Executive Director, and Thomas BeI er, President, of OAEDC, to me known
to be the persons who executed the foregoing instrument and acknowledged same as and
for said corporation. //4 /
Notary Public, Winnebago Co n ty, WI
My Commission Expires: Z.
STATE OF WISCONSIN )
)ss.
WINNEBAGO COUNTY )
Personally came before me this / day of / ehtfi , 2011 the above named
Mark Rohloff, City Manager, and Pamela R. Ubrig, City Clerk, of the City of Oshkosh, to me
known to be the persons who executed the foregoing instrument and acknowledged same as
and for said corporation, by its authority.
Notary Public, Winnebago County, WI
My Commission Expires: 2 -.2y- 3
Apprp -d as to form:
VA U
Lynn- :renson, Cit rney, Oshkosh, WI
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"ATTACHMENT A"
CITY OF OSHKOSH BUSINESS PARK
SALES POLICIES AND GUIDELINES
The development of the Business Park within the City of Oshkosh is a continuance of a
successful public - private partnership working for the communities benefit -- through job
creation, economic growth, and expanded tax base. It represents the commitment by the
community to provide a suitable setting for planned, orderly Business Park development to
occur.
The sales policies and guidelines described herein will be followed when land sales are
considered in the City's Business Park. These policies and guidelines in combination with
the Protective Covenants, are intended to promote the overall quality of development, to
attract high quality, service related businesses, and to ensure that the Business Park remains
a successful public investment.
1) OAEDC is designated as the exclusive agent regarding the sale of property in the
City's Business Park.
2) All contacts and communications with prospects will be handled on a confidential
basis.
3) Sales proposals will be considered for approval if, in the opinion of OAEDC, the
project fits the development objectives of the City and OAEDC.
4) Land sales should be undertaken in such a manner so as to promote and encourage
compact and orderly development of the business park and each individual parcel.
The identification of sites should be done as to avoid the creation of remnant parcels
and areas of irregular shape and size. OAEDC shall consult with City staff in the
delineation of sites.
5) Any real estate broker, licensed to conduct business in the State of Wisconsin, who
represents a prospect, shall become eligible for a sales commission not to exceed
four percent (4 %) of the sale price, deducted from the commission paid to OAEDC,
subject to the following terms:
A. The Broker and prospect shall register in writing with OAEDC at 120 Jackson
Street, Oshkosh, Wisconsin 54901, prior to any land sale negotiations.
B. No commission will be paid to any broker for sale of land to a prospect who
registered directly with OAEDC prior to contact with a broker.
C. All land sale proposals and broker commission payments shall be approved by
OAEDC.
D. A broker - registered prospect shall remain on the active list for a period of six
months, unless renewal is requested by the broker.
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"ATTACHMENT B"
UNIVERSAL BUSINESS PARK
PRICING STRUCTURE
LOT PRICE PER LOT AREA LOT PRICE PER LOT AREA
NO. SQ. FT. NO. SQ. FT.
1 SOLD 93,596.24 sq.ft 17 SOLD 79,613.31 sq.ft
2 SOLD 54,617.38 sq.ft. 18 SOLD 127,079.51 sq.ft
3 SOLD 48,212.12 sq ft 19 SOLD 57,611.33 sq.ft
4 SOLD 54,532.03 sq ft 20 SOLD 37,108.27 sq.ft
5 SOLD 51,829.53 sq.ft 21 SOLD 54,225.81 sq.ft
6 SOLD 54,670.34 sq.ft 22 SOLD 43,561.12 sq.ft
7 1.25 54,147.24 sq.ft 23 SOLD 39,321.52 sq.ft
8 SOLD 58,864.21 sq.ft 24 SOLD 41,937.01 sq.ft
9 SOLD 70,781.86 sq.ft 25 SOLD 42,313.52 sq.ft
10 1.25 67,070.86 sq.ft 26 SOLD 125,297.10 sq.ft
11 SOLD 51,254.46 sq.ft 27 SOLD 91,481.68 sq.ft
12 SOLD 42,463.25 sq.ft 28 SOLD 101,583.51 sq.ft
13 SOLD 43,067.93 sq.ft 29 SOLD 91,819.60 sq.ft
14 SOLD 53,746.26 sq.ft 30 SOLD 97,220.87 sq.ft
15 SOLD 53,819.25 sq.ft 31 2.50 294,030 sq.ft
16 SOLD 85,344.97 sq.ft
NOTE: In the disposition of property in the Universal Business Park, lot lines and lot configurations may be
adjusted from those shown on the attached site plan map.
The City of Oshkosh reserves the right to reduce the prices herein established for individual parcels for good
and sufficient reasons as determined by said City. OAEDC shall have the right to sell properties which are
the subject matter of this agreement and shall receive sixteen percent (16 %) commission plus any
reasonable costs for incidental expenses including land survey fees, attorney fees, engineering studies and
soil tests, excluding environmental studies. Associated with said sale.
Should the City determine to sell land for less than the scheduled price, then OAEDC's sixteen percent (16 %)
shall be determined by the actual selling price.
When land is repurchased by the City, due to nonimplementation of the project that had been proposed per
its initial sale, OAEDC will be entitled, upon the resale of said land, to a sixteen percent (16 %) commission
figured on the value of any increment that exists between the original sale price and the resale price, plus any
reasonable costs for incidental expenses associated with said resale.
The above schedule shall be in effect until January 31, 2013. However, the above price structure may be
reviewed and adjusted prior to January 31, 2013 by the City, in consultation with OAEDC, and upon approval
of the Oshkosh Common Council.
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"ATTACHMENT C"
The "City of Oshkosh, Universal Business Park, Covenants and
Restrictions" as on file in the Department of Community Development.
OAEDC Business Park Agreement
revised: 1/05; 1/07;1/09; 1/11
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