HomeMy WebLinkAbout24. 13-486
OCTOBER 22, 2013 13-486 RESOLUTION
(CARRIED__6-0____LOST______LAID OVER______WITHDRAWN______)
PURPOSE: APPROVE TAX INCREMENTAL DISTRICT NO. 7 PROJECT
PLAN ALLOCATION AMENDMENT NO. 6 TO PERMIT SHARING OF
INCREMENT WITH TID NO. 20 SOUTH SHORE REDEVELOPMENT
AREA AND TID NO. 21 FOX RIVER CORRIDOR PROJECT
INITIATED BY: COMMUNITY DEVELOPMENT
PLAN COMMISSION RECOMMENDATION: Approved
WHEREAS, the City of Oshkosh has determined that use of Tax Incremental
Financing is required to promote orderly development and redevelopment within the City; and
WHEREAS, Tax Incremental District No. 7 (the “District”) was created by the City on
July 20, 1989; and
WHEREAS, the City desires to amend the Project Plan of the District in accordance
with the provisions of Section 66.1105, Wisconsin Statutes (the “Tax Increment Law”); and
WHEREAS, such amendment will allow for the District to share surplus increments
with Tax Incremental District No. 20 South Shore Redevelopment Area, and Tax Incremental
District No. 21 Fox River Corridor Project under the provisions of Section 66.1105(6)(f) of the
Wisconsin Statutes; and
WHEREAS, TID No. 20 and TID No. 21 are not financially performing as anticipated
with respect to the annual amount of increment generated to accommodate debt service; and
WHEREAS, TID No. 7 has the financial capacity to act as a donor district to TID No.
20 and TID No. 21; and
WHEREAS, in accordance with the procedures specified in the Tax Increment Law, on
October 15, 2013 the Plan Commission held a public hearing concerning the proposed
amendment to the Project Plan of the District, providing interested parties a reasonable
opportunity to express their views thereon; and
WHEREAS, the Plan Commission approved the amended Project Plan for the District
(the “ Amendment”) that includes:
OCTOBER 22, 2013 13 -486 RESOLUTION
CONT'D
1) A statement listing the kind, number and location of all proposed public works or
improvements within such District.
2) Contains an economic feasibility study.
3) Contains a detailed list of estimated project costs.
4) Contains a description of the methods of financing all estimated project costs
and the time when such costs or monetary obligations related thereto are to be
incurred.
5) Includes a map showing existing uses and conditions of real property in such
District.
6) Contains a list of estimated non - project costs.
7) Indicates how the amendment to the district promotes orderly development of
the City.
NOW THEREFORE, BE IT RESOLVED by the Common Council of the City of
Oshkosh that:
1) The original findings for TID #7 are still valid.
2) The proposed amendment is feasible and in conformity with the City's
Comprehensive Plan and promotes the orderly development of the community.
3) There are sufficient revenues in the donor district of TID #7 to meet its own
required debt service as well as increment allocation to TID #13 to donate
surplus increment to TID #20 and TID #21.
4) The amendment will not result in the City exceeding its value limitation cap of
12% with the City currently at 8.23 %.
5) That recipient TID #20 and TID #21 were created upon finding that not less than
50 percent of the real property in each district is blighted.
6) The donor tax incremental district, the positive tax increments of which are to be
allocated, and the recipient tax incremental districts have the same overlying
taxing jurisdictions.
7) The boundaries of Tax Incremental District No 7 remain unchanged.
8) The amended Project Plan for the District, attached as Exhibit B, is hereby
approved and recommends approval to the Common Council.
9) Amendment of the Project Plan for TID #7 promotes orderly development in the
City.
BE IT FURTHER RESOLVED that the Common Council approves of said Project Plan
and Allocation Amendment No. 6 for Tax Increment District #7 pursuant to the provisions of
Wisconsin Statutes.
O.IHKOf
ON THE WAM
TO: Honorable Mayor and Members of the Common Council
FROM: Darryn Burich
Director of Planning Services
DATE: October 16, 2013
RE: Approve Tax Incremental District No. 7 Project Plan Allocation Amendment No. 6 to
Permit Sharing of Surplus Increment with TID No. 20 South Shore Redevelopment
Area and TID No. 21 Fox River Corridor Project (Plan Commission Recommends
Approval)
BACKGROUND
State Statutes allow cities to amend Tax Incremental Districts (TID) in numerous ways. The area of a
TID can be modified to add property or to remove developed land from a TID. A district's project
plan may be amended to include new project costs or different financing plans. Increment revenue
may be allocated from one district (donor) to another (recipient) to help offset debts. Lastly, a TID can
be extended beyond the statutory maximum life if existing tax increments are or will not be sufficient
to pay off project costs in the allowed time. The procedures to adopt a TID amendment are largely the
same in creating a new TID and require a noticed public hearing, Plan Commission, Council, and Joint
Review Board adoption.
In this case, the City is proposing to amend the project plan of one TID to act as a donor district to
allocate positive tax increment to two recipient districts where the anticipated increment within those
recipient districts does not meet existing or anticipated debt service needs. Specifically, the City is
proposing to allocate positive tax increment from TID #7 Southwest Industrial Park to TID #20 South
Shore Redevelopment Area and TID #21 Fox River Corridor Project. Because the project plan of TID
#7 did not originally include provisions for allocation, this amendment represents a change to the
district project plan. TID #7 has a base creation year of 1989 and has been previously amended five
times to allocate positive tax increments to other districts including TID #6 Northwest Industrial Park,
TID #8 South Aviation Industrial Park, TID #13 Marion Road/Pearl Avenue Redevelopment, TID #16
100 Block Redevelopment and TID #24 South Industrial Redevelopment.
TID #20 and TID #21 were created for the purpose of eliminating blighting conditions and to promote
redevelopment of riverfront areas that had been predominantly industrial since the mid 19`" century.
The City's Comprehensive Plan prioritized redevelopment of these areas into mixed -use districts with
TIF intended to be the primary redevelopment tool given the anticipated high cost of redevelopment.
Economic feasibility of each district was predicated upon redevelopment occurring within each of the
district's statutory timelines and plan implementation commenced upon plan adoption.
Please see the Project Plan Amendment (Amendment No. 6) for more information.
ANALYSIS
The Southwest Industrial Park is the City's most successful TID with a 2013 increment value of
$150,624,300 generating approximately $3.8 million annually in tax revenues, TID #7's anticipated tax
revenue generation through its termination is estimated at $23,066,512 and along with its current
balance of $12,520,613 creates expected revenues of approximately $35.5 million through 2017.
Subtracting out the TID 47's existing debt service of $268,315 and the anticipated donation to TID #13
of $8,581,433 leaves approximately $26,365,720 of revenue capacity to transfer to TID #20 and #21,
which currently have a combined debt service of $19,017,825.
Additional redevelopment in the recipient districts could reduce the allocations in the future. Likewise,
future project costs like riverwalk extensions or environmental remediation could affect allocations in
the fixture.
No other changes are proposed to the TID #7 project plan and this amendment simply allows the
sharing of increment from the donor district to the recipient districts and does not alter the timeframe
for termination of TID V.
FISCAL IMPACT
No additional city services are anticipated to be required due to the proposed amendment.
RECOMMENDATION
The Plan Commission approved of this request at its October 15, 2013 meeting.
Approved,
City ``Manager
ITEM: PUBLIC HEARING ON PROJECT PLAN AND ALLOCATION AMENDMENT
TO TAX INCREMENTAL DISTRICT #7 SOUTHWEST INDUSTRIAL PARK
— Department of Community Development
Plan Commission meeting of October 15, 2013
PROPOSAL
The Department of Community Development requests approval of a Project Plan Allocation
Amendment that would permit sharing of tax increment from TID #7 Southwest Industrial Park to
recipients TID #20 South Shore Redevelopment Area and TID 421 Fox River Corridor Project. Both
TIDs #20 and #21 were created as blighted area TIDs and thus eligible to become increment recipient
districts. Attached to this staff report is the Project Plan Amendment document.
State statutes allow cities to amend Tax Incremental Districts (TID) in numerous ways. The
boundaries of a district may be modified to include additional area into the district or to remove
developed area from the district and return it to the property tax rolls. A district's project plan may be
amended to include new project costs or different financing plans. Tax increment may be allocated
from one district (donor) to another (recipient) to help offset project costs. Lastly, a TID can be
extended beyond the statutory maximum life, if existing tax increments are not sufficient to pay off
project costs in the allowed time.
BACKGROUND
In this case, the City is proposing to amend the project plan of one TID to act as a donor district to
allocate positive tax increment to two recipient districts where the anticipated increment within those
recipient districts does not meet existing or anticipated debt service needs. Specifically, the City is
proposing to allocate positive tax increment from TID #7 Southwest Industrial Park to TID # 20 South
Shore Redevelopment Area and TID #21 Fox River Corridor Project. Because the project plan of TID
#7 did not originally include provisions for allocation, this amendment represents a change to the
district project plan. TID 47 has a base creation year of 1989 and has been previously amended five
times to allocate positive tax increments to other districts including TID #6 Northwest Industrial Park,
TID #8 South Aviation Industrial Park, TID #13 Marion Road/Pearl Avenue Redevelopment, TID 416
100 Block Redevelopment and TID #24 South Industrial Redevelopment.
TID #20 and TID #21 were created for the purpose of eliminating blighting conditions and to promote
redevelopment of riverfi-ont areas that had been predominantly industrial since the mid 19 "' century.
The City's Comprehensive Plan prioritized redevelopment of these areas into mixed -use districts with
TIF intended to be'the primary redevelopment tool given the anticipated high cost of redevelopment.
Economic feasibility of each district was predicated upon redevelopment occurring within each of the
district's statutory timelines and plan implementation commenced upon plan adoption.
Both TIDs, created in 2005 and 2006, have been hampered by the nationwide recession that started in
late 2008. The recession has impacted values within the districts to a point where plan implementation
costs exceed the ability of each district to pay debt service. TID #20 has actually lost about $5.5
million in equalized value from its value at creation date. TID #21 has fared somewhat better creating
RendIl -Amend TID 9 7
an increment of approximately $5.7 million. Because of this the City is proposing this project plan and
allocation amendment to TID #7 that will permit the sharing of positive tax increment from TID #7 to
TIM #20 and #21. This amendment does not alter the project plans of TIDs #20 and #21 nor does it
extend the statutory timeframe of TID #7 beyond 2017.
ANALYSISIECONOMIC FEASIBILITY
The Southwest Industrial Park is the City's most successful TID with a 2013 increment value of
$150,624,300 generating approximately $3.8 million annually in tax revenues. TID #7's anticipated tax
revenue generation through it termination is estimated at $23,066,512 and along with its current
balance of $12,520,613 creates expected revenues of approximately $35.5 million through 2017.
Subtracting out the TID #7's existing debt service of $268,315 and the anticipated donation to TID #13
of $8,581,433 leaves approximately $26,365,720 of revenue capacity to transfer to TID #20 and #21,
which currently have a combined debt service of $19,017,825.
Exhibit 1 below shows the economic feasibility and illustrates that TID #7 has the financial capacity to
accommodate its debt service and transfers to TID #13 and still have ample capacity to make transfers
contemplated with this proj ect plan and allocation amendment. It should be made clear that these are
estimates only at this time and these numbers will be subject to change based on potential equalized
value changes within the districts.
Exhibit I Economic Feasibility
of TID #7
Est. Revenues through 2017
$35,215,468
Remaining Debt Service
($268,315)
Est. Transfer to TID #13
($8,581,433)
Est. balance available to transfer
$26,365,720
Additional redevelopment in the recipient districts could reduce the allocations in the future. Likewise,
future project costs like riverwalk extensions or environmental remediation could affect allocations in
the future.
No other changes are proposed to the TID #7 project plan and this amendment simply allows the
sharing of increment from the donor district to the recipient districts and does not alter the timeframe
for termination of TID V.
RECOMMENDATION
The Department of Community Development asks that the Plan Commission approve the Project Plan
and Allocation Amendment and associated resolution as proposed.
The Plan Commission approved the Project Plan and Allocation Amendment and associated resolution
as requested. The following is the Plan Commission's discussion on this item.
Mr. Burich presented the item and explained the reasoning for the amendment request and that the
increments could offset the debt service and costs in TID #20 and #21. He indicated that this
allocation amendment was keeping with state statutes and the tables reflect the cash flow analysis and
directed the Commissioners to refer to pages 9 through I 1 in the Project Plan. He explained that the
Item -Amend TID #7
City is not adding more increment and that Table #1 on page 9 shows the revenues and expenditures as
well as anticipated transfers at this time from Tax Increment District #7 where Tables #2 and 3 show
the revenues and expenditures for TID #20 and #21 respectively. He further discussed the details of
these tables.
Mr. Fojtik questioned what the precedent was for this and has sharing of surplus increment between
districts worked in the past.
Mr.. Burich responded that it has been done in the past with TID #7 and #9 allocating increments to
TID #13 and #16.
Allen Davis, Director of Community Development, added that TID #7 has also allocated surplus
increment to TID #24 and this practice has worked out very well in the past.
Mr. Thoms questioned what the impact was of this allocation amendment on citizens and for projects
not to borrow to other projects, if a successful development could lower property taxes.
Mr. Davis responded that it depends on the citizens however in the City's case, the City, County, and
school districts all benefit from the revenue in TID P. Closing this TID would lower taxes however
general obligation debts would have to pay for deficits in the less successful TID 420 and #21 so
spreading the benefits of TID #7 offsets these costs.
Mr. Thoms clarified that the city has to pay interest payments on general obligation debt for the TIDs
that are not successful and the borrowing from TID #7 would offset the costs.
Mr. Davis confirmed that was the case.
Mr. Thoms stated that TID #7 can only be open until 2017 which would buy time for the other two
TID districts to pay for themselves.
Mr. Davis confirmed this and stated that TID #20 and #21 could retire their debt in the corning years
by the allocation from TID #7 without citizens paying for it.
Mr. Thoms stated that what we are using from TID #7 is sufficient to pay the principal and interest
payments for TID #20 & #21.
Mr. Nollenberger commented that the concept is that tax revenues of developed areas in TID districts
refinance redevelopment of other older parts of the community.
Mr. Hinz inquired about the payoff of the increments over all the years of the TID, could we pay off
now if desired and eliminate the payment of interest.
Mr. Davis indicated that the city cannot accelerate all the payments as some of the debts do not allow
prepayment until a certain date.
Mr. Fojtik opened the public hearing at 4:42 pm. As there were no citizens present to comment, the
public hearing was closed.
Item -Arend TID 47
Mr. Nollenberger questioned if the other taxing entities have an opportunity for input and approval on
the proposed amendment.
Mr. Burich responded that the Plan Commission, Common Council, and Joint Review Board all review
and approve the proposed amendment. He noted that the Joint Review Board is comprised of
representatives of Winnebago County, the Oshkosh Area School District and the Fox Valley Technical
College District.
Mx. Thoms requested further explanation of the overlapping taxing jurisdictions.
Mr. Burich replied that in some communitiesthere are different school districts or other types of
special districts involved however in the City's case, there are no changing overlapping districts in the
City.
Mr. Thoms also questioned if TID 420 and #21 were created due to the fact that they were blighted
areas.
Mr. Burich responded affirmatively and reviewed the resolution approving the project plan allocation
amendment which contains the findings.
Mr. Thoms inquired if the cap limitation will not go up and if there was no obligation on TID #7 to
disallow this amendment.
Mr. Burich responded negatively and stated that we were not adding any area to the TID district
boundary so it would not affect the cap.
Motion by Nollenberger to approve the Project Plan and Allocation Amendment to Tax
Incremental District #7 Southivest Industrial Park
Seconded by Vajgrt. Motion carried 7 -0.
Jim - .4mend TID 97
PROJECT PLAN /ALLOCA'T'ION
AMENDMENT
TO
Tax Incremental District #7
Southwest Industrial Park
(Amendment No. 6)
Recipient Districts
TID # 20 South Shore Redevelopment
TID # 21 Fox River Corridor
Of HKOf H
ON THE WATER
City Of Oshkosh
October 2013
Ptoject Plan /Allocation Amendment
Tax Increment District # 7
Amendment No. 6
Public Hearing Date
October 15, 2013
Plan Commission
October 15, 2013
Common Council
October 22, 2013 (Pending)
Joint Review Board
October 2013 (Pending)
Prepared By:
Department of Community Development
October 2013
Table of Contents
IntroductionBackground................................................................. ............................... ..................1
Nameof District ........................................................................................................... ..............................2
Boundaries.......................................................................................... ............................... ...2
Proposed Improvements/ Project Costs/ Amendment ............................................... ..............................2
EconomicFeasibility .......................................................................................... ............................... .....3
Other Changes to Project Plan ................................................................................:.. ..............................3
Promotion of Orderly Development ........................................................................... ..............................3
Findings & Report to the Joint Review Board .......................................................... ..............................3
Appendix A -- Project Maps
TID # 7 Southwest Industrial Park Boundaries .................... ..............................5
TID # 7 Southwest Industrial Park Land Use & Conditions .............................6
TID #20 South Shore Redevelopment Area ........................... ..............................7
TID #21 Fox River Corridor Project Plan ............................. ...........................:..5
Appendix D — Financial Tables
TID# 7 Cash Flow Pro Forma ................................................ ..............................9
TID# 20 Cash Flow Pro Forma ............................................. .............................10
TID# 21 Cash Flow Pro Forma ............................................. .............................11
Appendix C — Creation Resolutions
TID# 7 Creation Resolution .................................................. .............................12
TID# 20 Creation Resolution ................................................ .............................16
TID# 21 Creation Resolution ................................................ .............................22
INTRODUCTION/BACKGROUND
State statutes allow cities to amend Tax Incremental Districts (TID) in numerous ways. The
boundaries of a district may be modified to include additional area in the district or to remove
developed area from the district and return it to the general'property tax rolls. A district's project
plan maybe amended to include new project costs or different financing plans. Tax increment
may be allocated from one district (donor) to another (recipient) to help offset project costs.
Lastly, a TID can be extended beyond the statutory maximum life, if existing tax increments are
not sufficient to pay off project costs in the allowed time.
In this case, the City is proposing to amend the project plan of one TID to act as a donor district
to allocate positive tax increment to two recipient districts where the anticipated increment
within those recipient districts does not meet existing or anticipated debt service needs.
Specifically, the City is proposing to allocate positive tax increment from TID #7 Southwest
Industrial Park to TID # 20 South Shore Redevelopment Area and TID # 21 Fox River Corridor
Project. Because the project plan of TID #7 did.not originally include provisions for allocation,
this amendment represents a change to the district project plan.
The Southwest Industrial Park is the City's most successful TID with a 2013 increment value of
$150,624,300 generating approximately $3.8 million annually in tax revenue. The district has a
base creation year of 1989 and has been previously amended five times to allocate positive tax
increments to other districts including TID # 6 Northwest Industrial Park, TID #8 South Aviation
Industrial Park, TID #13 Marion Road/PearI Avenue Redevelopment, TID #16 100 Block
Redevelopment and TID # 24 South Industrial Redevelopment.
TID # 20 and TID # 21 were created for the purpose of eliminating blighting conditions and to
promote redevelopment of riverfront areas that had been predominantly industrial since the mid
19th century. The City's Comprehensive Plan prioritized redevelopment of these areas into
mixed -use districts with TIF intended to be the primary redevelopment tool given the anticipated
high cost of redevelopment. Economic feasibility of each district was predicated upon
redevelopment occurring within each of the district's statutory timelines and plan implementation
commenced upon plan adoption.
Both TIDs, created in 2005 and 2006, have been hampered by the nationwide recession that
started in late 2008. The recession has impacted values within the districts to a point where plan
implementation costs exceed the ability of each district to pay debt service. TID # 20 has actually
lost about $5.5 million in equalized value from its value at creation date. TID # 21 has fared
somewhat better creating an increment of approximately $5.7 million. Because of this the City is
proposing this project plan and allocation amendment to TID # 7 that will permit the sharing of
positive tax increment from TID # 7 to TIDs #20 and #21. This amendment does not alter the
project plans of TIDs # 20 and # 21 nor does it extend the statutory timeframe of TID # 7 beyond
2017.
NAME OF DISTRICT
The name of the district remains the same, Tax Incremental District #7 Southwest Industrial
Park.
BOUNDARIES
The boundaries as illustrated on the maps in Appendix A and legal descriptions remain the same
as adopted in the creation resolutions in Appendix C).
PROPOSED IMPROVEMENTS/ PROJECT COSTS/AMENDMENT
The City is not proposing any new projects in TID #7 but is proposing to amend the TID # 7
Project Plan to act as a donor district (allocation amendment) that will permit the sharing of
positive tax increment from TID # 7 to TID # 20 and TID # 21. The current outstanding debt for
TID # 20 is $8,361,050 and TID # 21 is $10,656,775. The project plan and allocation
amendment of TID # 7 does not alter the timeline for its statutory termination in 2017 nor change
the project plans of TIDs # 20 and # 21 that will each continue with their respective plan
implementation activities such as environmental remediation and development of the riverwalk
system. No additional financing is required for TID # 7 to share positive tax increment with the
recipient districts.
ECONOMIC FEASIBILITY
In order for the City and Joint Review Board to approve an allocation amendment, it must be
demonstrated that there is sufficient increment available to cover debt service costs in the donor
district. Appendix B contains the financial tables associated with each of the districts. Table I
shows the financial information for TID # 7, Table 2 financial information of TID # 20, and
Table 3 financial information for TID # 21.
Table # I in Appendix B shows that TID # 7 generates about $3.8 million per year in tax
increment and has a cash balance of $13.5 million. The district's total outstanding debt service is
$268,315. TID # 7 also acts as a donor district to TID # 13 Marion Road Redevelopment and
will continue to do so until its termination in 2017 with an anticipated donation total to TID # 13
of $8,581,433. The total outstanding debt service for TID # 7 and obligations to TID # 13 are
estimated at $8,849,748.
TID # 7's anticipated tax revenue generation through its termination is estimated at $23,066,512
and along with its current cash balance of $12,520,613 creates expected revenues of
approximately $35.5 million through 2017. Subtracting out TID # 7's existing debt service of
$268, 315 and the anticipated donation to TID # 13 of $8,581,433 leaves approximately
2
$26,365,720 of revenue capacity to transfer to TID # 20 and # 21, which currently have a
combined debt service of $19,017,825.
Exhibit 1 below shows the economic feasibility and illustrates that TID # 7 has the financial
capacity to accommodate its debt service and transfers to TID # 13 and still have ample capacity
to make the transfers contemplated within this project plan and allocation amendment. It should
be made clear that these are estimates only at this time and these numbers will be subject to
change based on potential equalized value changes within the districts.
Exhibit I Economic Feasibili of TID # 7
Est. Revenues through 2017
$35,215,168
Remaining Debt Service
($268,315)
Est. Transfer to TID # 13
($8,581,433
Est. balance available to transfer
$26,365,720
Additional redevelopment in the recipient districts could reduce the allocations in the future.
Likewise, future project costs like riverwalk extensions or environmental remediation could
affect allocations in the future.
OTHER CHANGES TO PROJECT PLAN
There are no other changes being proposed to the TID # 7 Project Plan which would include the
following elements:
• No proposed changes to the kind, number, and location of all proposed public works or
improvements.
• No proposed changes to the zoning ordinances, master plan, map, building codes, and
municipal code.
• No new non - project costs are anticipated.
• No anticipated relocation of persons with the district.
PROMOTION OF ORDERLY DEVELOPMENT
The Project Flan amendment promotes orderly development of the City by assisting in the
recipient district's abilities to fulfill their respective project plan goals of eliminating blighting
conditions and helping to promote redevelopment of central city areas.
FINDINGS & REPORT TO THE JOINT REVIEW BOARD
State TIIi statutes require certain findings for Project Plan and Allocation Amendments to be
valid and provided to the Joint Review Board. With these Amendments, the Common Council
does affirm the following findings:
1) The original findings for TID #7 are still valid.
2) The proposed amendment is feasible and in conformity with the City's Comprehensive
Plan and promotes the orderly development of the community.
3) There are sufficient revenues in the donor district of TID #7 to meet its own required debt
service as well as increment allocation to TID # 13 to donate surplus increment to TID #
20, and TID # 21.
4) The amendment will not result in the City exceeding its value limitation cap of 12% with
the City currently at 8.23 %.
5) That recipient TIDs # 20 and # 21 were created upon finding that not less than 50 percent
of the real property in the district being blighted.
6) The donor tax incremental district, the positive tax increment of which are to be
allocated, and the recipient tax incremental districts have the same overlying taxing
jurisdictions.
7) The boundaries of Tax Incremental District No 7 remain unchanged.
8) The amended Proj ect Plan for the District, attached as Exhibit B, is hereby approved and
recommends approval to the Common Council.
9) Amendment of the Project Plan for TID #7 promotes orderly development in the City.
4
Appendix A
TID # 7 Boundary Map
TID # 7 Existing Land Use and Conditions Maps
TID # 20 Boundary Map
TID # 21 Boundary Map
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These map(s)ldatasets are provided for information purposes only and may not be sufficient or
appropriate for legal, engineering, or surveying purposes. They are provided "AS -IS" without
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Appendix B
TID # 7 Cash Flow Pro Forma
TID # 20 Cash Flow Pro Forma
TID # 21 Cash Flow Pro Forma
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11
Appendix C
Creation Resolution for TZD # 7
Creation Resolution for TZD # 20
Creation Resolution for TID # 21
JULY 20, 1999 #196 RESOLUTION
(CARRIED ------ LOST ------ LAID OVER _ - -- WITHDRAWN______ )
PURPOSE: CREATION OF TAX INCREMENTAL FIN
ANC
.-
INITIATED BY: CITY ADMINISTRATION
Alt. 20`
j9pa
PLAN COMMISSION RECOMMENDATION: Approved 8 -0
Orr.[.,
WHEREAS, the Plan Commission has held a public hearing on the
creation of a Tax Increment District and the proposed boundaries
thereof; and
WHEREAS, the Chief Executive Officers of the Oshkosh Area School
District, Winnebago County Board, and other entities having power to
levy taxes on property located within the proposed TID have been
notified including the School Board of any school district which
includes Property within the proposed District pursuant to Section
66.46(a), Wisconsin Statutes.
NOW, THEREFORE, BE IT RESOLVED that the Common Council of the City
of Oshkosh hereby approves creation of Tax Incremental Financing
District No. 7, City of Oshkosh, described as follows:
A parcel of land lying in the E 1/2 of the HE 1/4 of Section 32 -18-
16 and in Section 33- 18 -16, 13th Ward, City of Oshkosh, Winnebago
County, Wisconsin, described as follows:
Commencing at the intersection of the S line of W. 20th Ave
(C.T.11. "K ") and the E line of said Section•32, thence W along the
S line of W. 20th Ave (C.T.H. "V) to the W line of the E 1/2 of
the W 1/2 of the HE 1/4 of the HE 1/4 of said section 32, thence S
parallel to the W line of the HE 1/4 of the HE 1/4 of said Section
32 to the S line of the HE 1/4 of the HE 1/9 of said Section 32,
thence W along the S line of the NE 1/4 of the NE 114 of said
Section 32 to the SW corner of the HE 1/4 of the HE 1/4 of said
Section 32, thence S along the W line of the SE 1/4 of the HE 1/4
of said Section 32' to the S line of the HE 1/4 of said Section 32,
thence E along the S line of the HE 1/4 of said Section 32 to the
E line of said Section 32, thence S along the W line of Section
33 -18 -16 to the S line of said Section 33- 18 -16, thence E along
the S line of Section 33- 18 -16, 925,5 ft., thence N 00029'50" E
367,00 ft., thence S 89018'40" E 105.0 ft., thence S 00029 -50" W
387.0 ft, to the 5 line a£ Section 33-- 18 -16, thence E along the S
line of Section 33• -18 -16 to the SE corner of the SE 1/4 of the SW
1/4 of Section 33-- 18 -16, thence N 00041'15" E 290.40 ft.'along the
F line of the SE 1/4 of the SW 1/4 of Section 33- 18 -16, thence S
89012'04" E 160.00 ft,, thence S 00041'16" W 290.40 f+,, to the S
line of Section 33= 18 -16, them -P E along the S line of Section 33-
18-16, 1030,36 ft., thence U 00038'23" E 196.00 ft., thence S
89012'04" E 150,0 ft, to the E line of the SW 1/4 of the SE 1/4 of
Section 33- 18 -16, thence S along the E line of the SW 1/4 of the
SE 1/4 of Section 33 -18 -16 to the S line of said Section 33,
thence E along the S line of said Section 33 to the SE corner of
said Section 33, thence N along the E line of said Section 33,
1516.36 ft., thence N 89037'30" W to a point 583 ft. E of the W
12
JULY 20, 1989 #196 RESOLUTION (cont`d)
line of the NE 114 of the SE 1/9 of said Section 33, thence S
00003'03" E 305 ft., thence N 88037'30" W 583 ft. to the W line of
the SE 1/4 of the SE 1/4 of said Section 33, thence N 00038'23" E
179.38 ft, along the E line of the W 1/2 of the SE 1/4 of Section
33- 16-16, thence N 35044'50" 11 497.29 ft. to the Sly right -of -way
line of S.T.H. "44 ", thence My along the Sly line of S.T.H. "44"
to the extended Wly line of property described in Doe. 0446801 as
recorded in Winnebago County Register of Deeds office, thence Nly
along the Wly -line of Property described in said Doc. 84458(►1 to
the N line of the NW 1/4 of the SE 1/4 of said Section 33, thence
E along the S liue�of the NE 1/4 of said Section 33 to the Nly
line of S.T.H. "44 ", thence E along the Nly line of S.T.H. "44" to
the Wly line of U.S.H. "41 ", thence Nly along the Wly line of
U.S.H. "41" to the extended Sly line of Ellenwood Cemetery as
recorded in Doc. 0146792, Winnebago County Register of Deeds,
thence S along the extended S line of said Ellenwood Cemetery to
the E line of S. Washburn St, thence N along the "13 line of S.
Washburn St to the SE corner of S. Washburn St and W. 20th Ave
(C.T.H. "K "), 'thence W along the S line of W. 20th-Ave (C.T.H.
"K") to a point 217.00 ft. W of the E line of the NW 1/4 of
Section 33- 18 -16, thence S U0015'20" W 240.01 ft., thence N
89016'41" W 4.79 ft., thence S 16028'19" W 394.84 ft. to the Nly
right -of -way of the Wisconsin Southern Railroad, thence S
69 32'39" W 1,092,67 ft, along the Nly right -of -way of the
Wisconsin Southern Railroad, thence N 00034'68" E 1,187.5U ft. to
the S line of W, 20th Ave (C.T.H. "K ") , thence W along the S line
of W. 20th Ave (C.T.H, "K") to the W line of the HE 1/4 of the NW
1/4 of said Section 33, thence S along the W line of the NE 1/4 of
the NW 1/4 of said Section 33, 266.53 ft., thence N 89020'51" W
142.62 ft., thence N (10033'34" E 266.71 ft, to the S line of W.
20th Ave (C,T.H. "K"), thence W along the S line of -W. 20th Ave
(C.T.H. "K ") 260.43 ft., thence S 00051'56" W 204.48 ft:, thence N
89020'51" W 270.00 ft., thence N 00061'56" E 204.48'ft, to the S
line of W. 20th Ave (C.T.H. "K "), thence W along the S line of W.
20th Ave (C.T.H. "K") to the point of beginning. '
Said parcel contains approximately 626 acres.
BE IT FURTHER RESOLVED that the improvements contemplated in TIF
#7, City of Oshkosh, will significantly enhance the value of
substantially all real property in TIF District No. 7.
BE IT FURTHER RESOLVED that the value of equalized, taxable
property in TIF District No. 7, together with all other
established Tax Incremental Finance Districts, is 3.96 % of the
total value of equalized taxable property within. the City of
Oshkosh.
13
JULY 201 1989 #197 RESOLUTION
(CARRIED------ LOST_ _ _ _ _ _ LAID (VER_ _ _ _ _WITHDRAWN_ _� Y,.
�
np
� 1
PURPOSE: APPROVE TAX INCREMENT DISTRICT #7 PROD' UT, ?P, ,AjN
INITIATED BY:' CITY ADMINISTRATION.
PLAN COMMISSION RECOMMENDATION: Approved 8 -0
WHEREAS, pursuant to Section 66.46, Wis. Stats., the City of
Oshkosh has created Tax Increment District No. 7, City of
Oshkosh; and
WHEREAS, the City of Oshkosh Plan Commission has prepared and
adopted a project plan for Tax Increment District-No. 7, City of
Oshkosh, which:
1) Includes a statement listing the kind, number and location of
all proposed public works or improvements within such District;
2) Contains an economic feasibility study;
3) Contains a detailed list of estimated project costs;
4) Contains a description of the methods of financing all
estimated project costs and the time when such costs or monetary
obligations related.thereto are to be incurred;
6) Includes a map showing existing uses and conditions of real
property -in such District;
6) Includes a map showing proposed improvements and uses
therein;
7) Contains a list of estimated non - project costs;
8) Contains a statement of a proposed method. for the relocation
of any person to be displaced; and
WHEREAS, the Plan Commission has held a public hearing and has
notified the Chief Executive Officers of all local government entities
having the power to levy taxes on property within the District,
including the School Board of any school district which includes
Property within the District pursuant to Section 6'6..46 (e), Wis.
Stats.; and
WHEREAS, the City of Oshkosh Plan Commission has submitted said
Project Plan to the Common Council of the City of Osklkosh.
14
JULY 20, 1989 #197 RESOLUTION (cont'd)
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City
of Oshkosh that:
1) Said Project Plan for Tax Increment District No. 7, City
of Oshkosh, is feasible; and
2) Said Project Plan is in conformity with the Master Plan
of the City of Oshkosh.
BE IT FURTHER RESOLVED that the Common Council of the City of
Oshkosh approves said Project Plan for Tax Increment District
No. 7, City of Oshkosh, pursuant to the provisions of Section
66.46, Wis. Stats.
15
JULY 12, 2005
(CARRIED 7 -0
05 -213
RESOLUTION
LOST LAID OVER WITHDRAWN )
PURPOSE; APPROVE TAX INCREMENT DISTRICT NO. 20 PROJECT
PLAN; DESIGNATE TAX INCREMENT DISTRICT NO. 20
BOUNDARIES; CREATE TAX INCREMENT DISTRICT NO. 20
SOUTH SHORE REDEVELOPMENT AREA
INITIATED BY: CITY ADMINISTRATION
PLAN COMMISSION RECOMMENDATION: Approved
WHEREAS, pursuant to Section 66.1105, Wis. Stats., the City of Oshkosh
proposes to create Tax Increment District No. 20 -- South Shore Redevelopment Area; and
WHEREAS, the City of Oshkosh Plan Commission has prepared and adopted a
project plan for Tax Increment District No. 20 — South Shore Redevelopment Area, which:
1) Includes a statement listing the kind, number and location of all proposed public
works or improvements within such District.
2) Contains an economic feasibility study.
3) Contains a detailed list of estimated project costs.
4) Contains a description of the methods of financing all estimated project costs and
the time when such costs or monetary obligations related thereto are to be incurred.
5) Includes a map showing existing uses and conditions of real property in such
District.
6) Includes a map showing proposed improvements and uses therein.
7) Contains a list of estimated non - project costs.
8) Contains a statement of a proposed method for the relocation of any person to be
displaced.
9) Indicates how the creation of TID No. 20 promotes the orderly development of the
City.
10) Contains an opinion of the City Attorney that the Plan complies with Section
66.1105(4)(f), Wis. Stats.
and
WHEREAS, the Plan Commission has held a public hearing on the creation of TID
No. 20 and the proposed boundaries thereof and has notified the Chief Executive Officers
of all local government entities having the power to levy taxes on property within the
District, including the School Board of any school district which includes property within
the District pursuant to Section 66.1105, Wis. Scats.; and
16
JULY 12, 2005 05 -213 RESOLUTION
CONTD
WHEREAS, the City of Oshkosh Plan Commission affirms the following per the TID
No. 20 Project Plan:
• The district is a blighted area TID;
• More than 50 percent of the real property within the TiD is blighted within the meaning
of Section 66.1105(2), Wisconsin Statutes;
• Not less than 50% of the structures within the TID are in need of rehabilitation within
the meaning of Section 66.1333, Wisconsin Statutes;
• The redevelopment of the area will have a significant positive impact on the value of
all real property in the District and is in keeping with the goals and objectives of the
Comprehensive Plan;
• Were it not for the financing mechanisms provided through Tax Increment Law,
planned redevelopment of this district would in all likelihood not occur;
• The primary objective for creation of TiD #20 Project Plan is for blight elimination and
to promote redevelopment;
• The Project Plan is feasible and is in conformity with the City's Comprehensive Plan;
• improvement of the area is likely to enhance significantly the value of substantially all
of the other property in the district;
• The project costs identified in the Project Plan relate directly to eliminating blight and
rehabilitating the area;
• The equalized value of taxable property within the district plus the value increment of
all existing districts within the city does not exceed 12 percent of the total equalized
value of taxable property within the city.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
Oshkosh that the Project Plan is feasible and in conformity with the City's Comprehensive
Plan and hereby approves of the Project Plan [on file at the City Clerk's office] for Tax
increment District No, 20 — South Shore Redevelopment Area, pursuant to the provisions
of Section 66.1105, Wis. Stats.
BE IT FURTHER RESOLVED that the Common Council of the City of Oshkosh
hereby designates the boundaries of TID No. 20 as described in Exhibit X.
BE IT FURTHER RESOLVED that the Common Council of the City of Oshkosh
hereby approves creation of Tax Increment District No. 20 -- South Shore Redevelopment
Area.
BE IT FURTHER RESOLVED that the improvements contemplated in TID No. 20
— South Shore Redevelopment Area will have a significant positive impact on the value of
all real property in the District and is in keeping with the goals and objectives of the
Comprehensive Plan.
17
JULY 12, 2005
05-213 RESOLUTION
CONTD
BE IT FURTHER RESOLVED that the equalized value of taxable property within the
District plus the value increment of all existing Districts within the City does not exceed
12% of the total equalized value of taxable property within the City.
BE IT FURTHER RESOLVED that not less than 50% of the real property within T1D
No. 20 are in need of rehabilitation within the meaning of Section 66.1333, Wis. Stats.
BE IT FURTHER RESOLVED that the District is a blighted area TID and the project
costs identified in the Project Plan relate directly to eliminating blight and rehabilitating the
area.
18
"EXHIBIT A"
PROPOSED TAX INCREMENT DISTRICT NO. 20
South Shore Redevelopment Area
Legal Description
A part of Blocks 91, 92, 93, 94, and 95 of Plat of the Original Third Ward, W. Fourth Avenue,
Michigan Street, Vacated W. First Avenue, Vacated W. Second Avenue, Vacated W. Third
Avenue, and Vacated Michigan Street, being in the W% of the SEE/ of Section 23- 18 -161 Sixth
Ward,
and also part of Blocks 48, 61, 62, 63, 78, and all of Blocks 49, 75, 76, and 77 of Plat of the
Original Third Ward, part of W. Third Avenue, W. Fourth Avenue, W. Sixth Avenue, Michigan
Street, Lewis Street, Oregon Street, Vacated Michigan Street, Vacated W. Second through
Vacated W. Fifth Avenues, Vacated Iowa Street, and Vacated Minnesota Street, being in the
SE'/ of Section 23- 18 -16, Ninth Ward,
and also part of Blocks 5, 7, 9, 16, 23, 28, 32, 35, 39, 43, and all of Blocks 1, 2, 3, 4, 6, S. 10, 11,
12, 13, 14, 18, 19, 24, 36, and 40 of Plat of the Original Third Ward, part of W. Sixth through
Tenth Avenues, Oregon Street, Nebraska Street, S. Main Street, Pioneer Drive, Vacated W. Fifth
through Vacated W. Twelfth Avenues, Vacated E. South Park Avenue, Vacated W. Fourteenth
through Vacated W. Sixteenth Avenues, Vacated Nebraska Street, Vacated Indiana Street, and
all of Vacated Utah Street, being in the W% and S'/ of the SW'/ and the SW% of the SE'/ of
Section 24- 18 -16, N% and E of the NW'/ and the W% of the NE' /a of Section 25- 18 -16, Third
Ward,
all in the City of Oshkosh, Winnebago County, Wisconsin described as follows:
Beginning at the intersection of the north line of W. Fifth Avenue and the east line of Iowa
Street; thence south along the east line of Iowa Street to the centerline of W. Sixth Avenue;
thence east along the centerline of W. Sixth Avenue to the extended west line of Lot 15,
Block 63 of Plat of the Original Third Ward; thence north along the extended west line and
west line of said Lot 15 to the northwest corner of said Lot 15; thence east along the north
lines of Lots 15 through 20, Block 63 of Plat of the Original Third Ward to the northeast
corner of said Lot 20; thence south along the east line of said Lot 20 to the centerline of W.
Sixth Avenue; thence east along the centerline of W. Sixth Avenue to the extended east
line of Lot 2, Block 5 of flat of the Original Third Ward; thence south along the extended
east line and east line of said Lot 2 to the southeast corner of said Lot 2; thence east along
the north lines of Lots 13, 14 and 15, Block 5 of Plat of the Original Third Ward to a point 30
feet east of the west line of said Lot 15, Block 5; thence south along a line parallel and 30
feet east of the west line of said Lot 15 to the centerline of W. Seventh Avenue; thence
west along the centerline of W. Seventh Avenue to a point 100 feet east of the east line of
Oregon Street; thence south along a line parallel and 100 feet east of the east line of
Oregon Street to the southeast corner of Lot 2, Block 9 of Plat of the Original Third Ward;
thence west along the south line of said Lot 2, 37 feet; thence south parallel with the east
line of Oregon Street 18 feet; thence west parallel to the south line of said Lot 2, 13 feet to
the west line of Lot 12, Block 9 of Plat of the Original Third Ward; thence south along the
east line and extended east line of said Lot 12 to the centerline of W. Ninth Avenue; thence
east along the centerline of W. Ninth to the extended west line of Lot 8, Block 16 of Plat of
the Original Third Ward; thence south along the west line of said Lot 8 and continuing along
19
the west fine of Lot 19, Block 16 of Plat of the Original Third Ward, to the north line of E.
Tenth Avenue; thence east along the north line of E. Tenth Avenue to the centerline of S.
Main Street; thence north afong -the centerline of S. Main Street to the centerline of E. Ninth
Avenue; thence east along the centerline of E. Ninth Avenue to a point 9.5 feet westerly of
the centerline of former Chicago and North Western Railway Company Spur Track f.C.C.
#208; thence southerly along a line to a point on the centerline of E. Tenth Avenue that is
9.5 feet westerly of the centerline of former Chicago and North Western Railway Company
Spur Track I.C.C. #569, said line being 9.5 feet westerly and parallel to the centerline of
said spur tracks #208 and #569; thence east along the centerline and extended centerline
of E. Tenth Avenue to the easterly tine of the Fox Valley & Western, Ltd. Railroad right -of-
way; thence southerly along the easterly line of the Fox Valley & Western, Ltd. Railroad
right -of -way to the centerline of vacated W. Sixteenth Avenue; thence east along the
centerline of vacated W. Sixteenth Avenue and its extension 1,500 feet; thence due north
2,700 feet; thence due west to a point on the Southwesterly Shore line (U.S. Harbor line) of
the Fox River as established by a General Ordinance of the City of Oshkosh per Document
No. 276204 of Winnebago County Records; thence northwesterly approximately 2,800 feet
along said Southwesterly Shore line (U.S. Harbor line) of the Fox River to a point 254.29
feet westerly of the east line of Block 49 of Plat of the Original Third Ward and the west line
of Oregon Street as measured along said shore line (U.S. Harbor line); thence
S01 °06'40 "E, 50.19 feet; thence N83 °24'35 "W, 97.95 feet; thence N00 050'59 "W, 25.21
feet; thence N83 024'35 "W, 312.30 feet; thence S19 °52'44 "W, 48.96 feet; thence
888 °39'28 "W, 347.87 feet; thence S64 °03'18 "W, 44.71 feet; thence S30 044'42 "W, 70.23
feet; thence S70 °56'07 "W, 33.44 feet; thence N71 024'10 "W, 33.72 feet; thence
N22 °42'25 "E, 267.02 feet to a point on said southwesterly shore line (U.S. Harbor line) of
the Fox River; thence northwesterly approximately 1800 feet along said Southwesterly
Shore line (U.S. Harbor line) of the Fox River to easterly line of Ohio Street; thence
southerly along the easterly line of Ohio Street to the northwesterly corner of Lot 1 of
Certified Survey Map (CSM) No. 903 of Winnebago County Records; thence southeasterly
along the northerly line of Lots 1, 2, and 3 of said CSM to the northeasterly corner of Lot 3
of said CSM and the northwesterly corner of Lot 1 of CSM No. 5619; thence southeasterly
along the northerly line of Lots 1, and 2 of CSM No. 5619 to the northeasterly corner of said
Lot 2, also being on the west line of vacated Michigan Street; thence south along the east
line of said Lot 2 and the west fine of Vacated Michigan Street to the easterly most corner
of said Lot 2; thence southwesterly along the southeasterly line of said Lot 2 to the
southerly most corner of said Lot 2 and the northeast corner of Lot 4 of CSM No. 5619;
thence southwesterly along the southeast line of said Lot 4 to the southerly most corner of
said Lot 4 and the easterly most corner of Lot 1 of CSM No. 2631; thence southwesterly
along the southeasterly line of said Lot 1 to the northeast corner of Lot 2 of CSM No. 2631,
and the centerline of vacated W. Third Avenue; thence east along the centerline of vacated
W. Third Avenue to a point on a line parallel to and 300 feet east of the east fine of Ohio
Street; thence south along a fine parallel to and 300 feet east of the east line of Ohio Street
to the centerline W. Fourth Avenue; thence west along the centerline of W. Fourth Avenue
to the extended east line of Lot 3, Block 95 of Plat of the Original Third Ward; thence south
along the east line of said Lot 3 to the southeast corner of said Lot 3; thence east along the
north lines of Lots 16 through 24, Block 95, and Lots 13 through 23, Block 78 of Plat of the
Original Third Ward to the northeast corner of Lot 23, Block 78 of Plat of the Original Third
Ward; thence south along the east line of said Lot 23 to the north line of W. Fifth Avenue;
thence east along the north line of W. Fifth Avenue to the point of beginning.
20
FEBRUARY 14, 2006
06 -54
RESOLUTION
(CARRIED LOST LAID OVER WITHDRAWN )
PURPOSE; APPROVE TAX INCREMENT DISTRICT NO. 21 PROJECT
PLAN; DESIGNATE TAX INCREMENT DISTRICT NO. 21
BOUNDARIES; CREATE TAX INCREMENT DISTRICT NO. 21
FOX RIVER CORRIDOR PROJECT
INITIATED BY: CITY ADMINISTRATION
PLAN COMMISSION RECOMMENDATION: Approved
WHEREAS, pursuant to Section 66.1105, Wis. Stats., the City of Oshkosh proposes
to create Tax Increment District No. 21 Fox River Corridor Project; and
WHEREAS, the City of Oshkosh Plan Commission has prepared and adopted a
project plan for Tax Increment District No. 21 Fox River Corridor Project, which:
1) Includes a statement listing the kind, number and location of all proposed public
works or improvements within such District.
2) Contains an economic feasibility study.
3) Contains a detailed list of estimated project costs.
4) Contains a description of the methods of financing all estimated project costs and
the time when such costs or monetary obligations related thereto are to be incurred.
5) Includes a map showing existing uses and conditions of real property in such
District,
6) Includes a map showing proposed improvements and uses therein.
7) Contains a list of estimated non - project costs.
8) Contains a statement of 'a proposed method for the relocation of any person to be
displaced.
9) Indicates how the creation of TID No. 21 promotes the orderly development of the
City.
10) Contains an opinion of the City Attorney that the Plan complies with Section
66.1105 (4)(f), Wis. Stats.
and
WHEREAS, the Plan Commission has held a public hearing on the creation of TID
No. 21 and the proposed boundaries thereof and has notified the Chief Executive Officers
of all local government entities having the power to levy taxes on property within the
District, including the School Board of any school district which includes property within the
District pursuant to Section 66.1105, Wis. Stats.; and
22
FEBRUARY 14, 2006 06 -54 RESOLUTION
CONT'D
WHEREAS, the City of Oshkosh Plan Commission affirms the following per the TID
No. 21 Project Plan:
• The district is a blighted area TID;
• More than 50 percent of the real property within the TID is blighted within the meaning
of Section 66.1105(2), 66.1333(2m)(b) Wisconsin Statutes;
• Not less than 50% of the structures /properties within the T[D are in need of
rehabilitation or conservation within the meaning of Section 66.1333, Wisconsin
Statutes;
• Property that has been vacant for the last 7 years does not exceed 25% of the area of
the district:
• The redevelopment of the area will have a significant positive impact on the value of
all real property in the District and is in keeping with the goals and objectives of the
Comprehensive Plan;
• Were it not for the financing mechanisms provided through Tax Increment Law,
planned redevelopment of this district would in all likelihood not occur;
• The primary objective for creation of TID #21 Project Plan is for blight elimination and
to promote redevelopment,
• The Project Plan is feasible and is in conformity with the City's Comprehensive Plan;
• Improvement of the area is likely to enhance significantly the value of substantially all
of the other property in the district;
• The project costs identified in the Project Plan relate directly to eliminating blight and
rehabilitating the area;
• The equalized value of taxable property within the district plus the value increment of
all existing districts within the city does not exceed 12 percent of the total equalized
value of taxable property within the city.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
Oshkosh that the Project Plan is feasible and in conformity with the City's Comprehensive
Plan and hereby approves of the Project Plan [on file at the City Clerk's office] for Tax
Increment District No. 21 Fox River Corridor Project, pursuant to the provisions of Section
66.1105, Wis. Stats.
BE IT FURTHER RESOLVED that the Common Council of the City of Oshkosh
hereby designates the boundaries of TID No. 21 as described in "Exhibit A ".
BE IT FURTHER RESOLVED that the Common Council of the City of Oshkosh
hereby approves creation of Tax Increment District No. 21 Fox River Corridor Project.
23
FEBRUARY 14, 2006
06 -54
RESOLUTION
CONT'D
BE IT FURTHER RESOLVED that the improvements contemplated in TID No. 21
Fox'River Corridor Project will have a significant positive impact on the value of all real
property in the District and is in keeping with the goals and objectives of the
Comprehensive Plan.
BE IT FURTHER RESOLVED that the equalized value of taxable property within the
District plus the value increment of all existing Districts within the City does not exceed
12% of the total equalized value of taxable property within the City.
BE IT FURTHER RESOLVED that not less than 50% of the real property within TID
No. 21 are in need of rehabilitation or conservation within the meaning of Section 66,1333,
Wis. Stats,
BE IT FURTHER RESOLVED that the District is a blighted area TID and the project
costs identified in the Project Plan relate directly to eliminating blight and rehabilitating the
area.
24
"EXHIBIT A"
TIF 21 FOX RIVER CORRIDOR PROJECT
LEGAL_ DESCRIPTION
All of Lot 1 and Oullot 2 of Certified Survey Map (CSM) No. 5712 of Winnebago County Records; all of Lot
1 and Outlot 1 of CSM No. 5840 of Winnebago County Records; all of Lot 23 and Lot 24 of Block F of
Western Addition to Oshkosh; part of vacated Hancock Street; part of Jackson Street; part of Pearl Avenue;
part of Dawes Street; all of Riverway Drive; part of Marion Road; part of Lots 0, 1, and all of Lots 2, 3, 4, 5,
6, 7, 8, 9, 10, 11, 12, 13, and 14 of Block D of Western Addition to Oshkosh; all of vacated Jay Street lying
southerly of Marion Road; all of Block A of Western Addition to Oshkosh; part of the Fox River; and all of
Oullot 1 of CSM No. 5748 of Winnebago County Records, being in the S' /z of the NE' /, the N%z of the SE' /a,
and the SE'/ of the SE'/ of Section 23, Township 18 North, Range 16 East, First and Ninth Wards, City of
Oshkosh; Winnebago County, Wisconsin described as follows:
Beginning at the intersection of the centerline of Jackson Street and the centerline of Pearl Avenue; thence
northwesterly along the centerline of Pearl Avenue to the centerline of Dawes Street; thence southerly along
the centerline of Dawes Street to the southerly right -of -way of Dawes Street also being the northerly line of
Outlot 2 of Certified Survey Map (CSM) No. 5712 of Winnebago County Records; thence westerly along the
northerly line of said Outlot 2 to the west (western most) corner of said Outlot 2; thence easterly along the
southerly line of said Outlot 2 to the southeast (southern most) corner of said Outlot 2; thence northerly
along the easterly line of said Outlot 2 to the northeast corner of said Outlot 2 also being a point on the
southerly line of Lot 1 of said CSM No. 5712; thence easterly along the southerly line of said Lot 1 to the
southwest right -of -way of Riverway Drive; thence southeasterly along said right -of -way to the westerly line
of CSM No. 5840 of Winnebago County Records; thence southwesterly along the westerly line of said Lot
1 to a point on the northeast line of Lot 23 of Block F of Western Addition to Oshkosh; thence northwesterly
along the northeast line of said Lot 23 and the northeast line of Lot 24 of said Block F to the northwest
corner of said Lot 24; thence southwesterly along the northwest line of said Lot 24 and its extension to the
centerline of vacated Hancock Street being 30 feet southwesterly of the southwest corner of said Lot 24;
thence southeasterly along the centerline of vacated Hancock Street being 30 southwesterly of and parallel
with the southwest line of said Block F to the intersection of the southeast line of said Lot 23 extended;
thence northeasterly along the extended southeast line of said Lot 23 to a point on the westerly line of Lot
1 of said CSM No. 5840; thence southwesterly along the westerly line of said Lot 1 to the northerly right -of-
way of Marion Road; thence along the southwesterly extension of the westerly line of said Lot 1 to the
centerline of Marion Road; thence westerly along the centerline of Marion Road to a point that is 70 feet
southeasterly of, measured at right angles to, the centerline of the right -of -way of the former Soo Line
Railroad Company; thence southwesterly, and parallel with the centerline of said railroad right -of -way, to a
point on the northeasterly Shore Line (U.S. Harbor Line) of the Fox River as established by a General
Ordinance of the City of Oshkosh per Document No. 276204 of Winnebago County Records; thence
southeasterly across the Fox River to the intersection of the westerly line of Oullot 1 of CSM No. 5748 of
Winnebago County Records and the southeasterly Shore Line (U.S. Harbor Line) of the Fox River as
established by a General Ordinance of the City of Oshkosh per Document No. 276204 of Winnebago County
Records; thence southerly along said westerly line to the southerly line of said Outlot 1; thence easterly
along said southerly line to the easterly line of said Dutlot 1; thence northerly along said easterly line to a
point on said southeasterly Shore Line (U.S. Harbor Line) of the Fox River; thence northeasterly across the
Fox River to the intersection of said northeasterly Shore Line (U.S. Harbor Line) of the Fox River and the
centerline of Jackson Street; thence northerly along the centerline of Jackson Street to the point of
beginning.
Said description containing approximately 1,863,800 square feet or 42.79 acres more or less.
25