HomeMy WebLinkAbout05. 12-100
MARCH 13, 2012 12-100 RESOLUTION
(CARRIED__7-0_____LOST_______LAID OVER_______WITHDRAWN_______)
PURPOSE: AMEND UNIVERSAL BUSINESS PARK COVENANTS TO ADD
2449 STATE ROAD 44 WITHIN THE BOUNDARIES OF THE
BUSINESS PARK AS PARCEL G; APPROVE AMENDMENT TO
AGREEMENT WITH OAEDC TO INCLUDE 2449 STATE ROAD 44
AS LOT 33 & ESTABLISH LAND SALE PRICE FOR SAID LOT
INITIATED BY: COMMUNITY DEVELOPMENT DEPARTMENT
OAEDC BOARD RECOMMENDATION: Approved
BE IT RESOLVED by the Common Council of the City of Oshkosh that the
following amendment to the City of Oshkosh Universal Business Park Covenants and
Restrictions, as revised, is hereby approved:
Add legal description for PARCEL G, 2449 State Road 44, per the attached
“Exhibit A”.
BE IT FURTHER RESOLVED by the Common Council of the City of Oshkosh
that the following amendments to the Agreement with Oshkosh Area Economic
Development Corporation (OAEDC) for sale of business park land, dated February 9,
2011, are hereby approved:
Add Lot 33, that being 2449 State Road 44, to the matrix in Attachment B of
said Agreement, with a land sale price per square foot of $2.50, per the
attached “Exhibit B”
The map attached to said Agreement is hereby amended to include 2449
State Road 44 as Lot 33 to the Business Park boundaries, per the attached
“Exhibit C”.
Exhibit A
LEGAL DESCRIPTION - 2449 State Road 44
PARCEL "G" :
A part of the Southeast quarter (SE '/4) of the Southwest Quarter (SW '/4) of Section
Thirty-three (33), Township Eighteen (18) North, Range Sixteen (16) East, Thirteenth
(13th) Ward, City of Oshkosh. Winnebago County, Wisconsin, and being described as
follows:
Commencing at the South 1/4 corner of said Section 33, thence North 00 degrees 41' 15"
East, 33.00 feet along the East line of the Southwest 'A of said Section 33 to its
intersection with the North line of Waukau Avenue and the true point of beginning,
running thence North 89 degrees 15' 40" West 462.98 feet along the North line of
Waukau Avenue, thence North 00 degrees 41' 15" East 631.51 feet to a point on the
Southeasterly line of S.T.H. "44"; thence North 54 degrees 15' 10" East 575.46 feet
along the Southeasterly line of S.T.H "44" to its intersection with the East line of the
Southwest 1/4 of said Section 33, thence South 00 degrees 41' 15" West, 973.59 feet
along the East line of the Southwest '% of said Section 33 to the true point of beginning.
[tax ID #913-2945-0000; 2449State Road 44]
"EXHIBIT B" _
"ATTACHMENT B"
UNIVERSAL BUSINESS PARK
PRICING STRUCTURE
LOT PRICE PER LOT AREA r 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
ft
8 SOLD 58,864.21 sq.ft 24 SOLD 41,937.01 sq.ft
9 SOLD 70,781.86 sq.ft e 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 q 27 SOLD 91,481.68 sq.ft
SOLD
12 42,463.25 sq.ft 28 SOLD 101,583.51 sq.ft
sol
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 4 33 2.50 365,132 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. Lots 31 & 32 combined into one lot - Lot 31.
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.
revised 3/13/2012
4
TO: Honorable Mayor and Members of the Common Council
FROM: Allen Davis, Community Development Director
DATE: March 8, 2012
SUBJECT: Amend Universal Business Park Covenants to Add 2449 State
Road 44 Within the Boundaries of the Business Park as Parcel G;
Approve Amendment to Agreement with OAEDC to Include 2449
State Road 44 as Lot 33 & Establish Land Sale Price for Said Lot
BACKGROUND
The City purchased the Roadway Express property adjoining the Universal Business Park
in 2011 with the intent of expanding the Universal Business Park for a potential corporate
headquarters or a multi-building campus. The building covenants for the Universal
Business Park should be extended to include the additional 8.5 acres.
ANALYSIS
The Roadway Express property at 2449 STH 44 adjoins the Universal Business Park as
indicated on the attached map. This addition to the Park is a logical choice to offer as
potential as a Class A office building location in the City and improve one of the City's
important gateways. By adding the parcel to the Universal Business Park Covenants, the
development on the parcel will follow stricter development requirements for building
exterior finish, landscaping and signage than the zoning requirements for the City.
The addition of 2449 STH 44 to the OAEDC Agreement will make OAEDC the
responsible party for the marketing and sales of the property in the same manner as the
rest of the Universal Business Park. The Sales Price of the Land would be the same as
the other parcels adjoining STH 44 at $2.50 per square foot.
FISCAL IMPACT
There is no impact on the City budget or levy.
RECOMMENDATION
The City Council approves the addition of the property to the Universal Business Park
and approves the amendment to the agreement with OAEDC for the property.
Approved,
City Manager