HomeMy WebLinkAbout91-067 _,�
FEBRUARY 21, 1991 91-67 RESOLUTION
(CARRIED LOST LAID OVER WITHDRAWN )
PURPOSE: CREATION OF TAX INCREMENTAL FINANCE DISTRICT N0. 8
INITIATED BY: CITY ADMINISTRATION
PLAN COMMISSION RECOMMENDATION: Approved 7-0
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. 8, City of
Oshkosh, described as follows:
TID �8 = 30UTH AVIATION INDUSTRIAL PARK
A part of the E. 1/2 of Section 2, T17N, R16E, 14th Ward, City of
Oshkosh, Winnebago County, Wisconsin, described as follows: Commencing
at a point on the N line of said Section 2 which is 506.85 ft. W of the
NE corner of said Section 2, thence W along the N line of said Section 2
to the NW corner of the NE 1/4 of the NE 1/4 of said Section 2, thence S
along the W line of the NE 1/4 of the tJE 1/4 of said Section 2 to the S
line of W. 33rd Ave. , thence W along the S line of W. 33rd Ave. to the W
line of Medalist Dr. , thence S along the W line of Medalist Dr, to a
point 1375 ft. S of the S line of W. Waukau Ave. , thence S. 89°57'33" W_
548.74 ft. to the W line of the NE 1/4 of said Section 2, tfience S along
the W line of the NE 1/4 and the SE 1/4 of said Section 2 to the NW
corner of the Red Oak Acres Assessors Plat, thence E along the N line of
the Red Oak Acres Assessors Plat to the NE corner of the Red oak Acres
Assessors Plat, thence S along the E line of the Red Oak Acres
Assessors Plat to the S line of said Section 2, thence E along the S
line of said Section 2 to the SE corner of said Section 2, tfience N
along the E line of said Section 2 to the NE corner of the SE 1/4 of the
SE 1/4 of said Section 2, thence W along the N line of the SE 1/4 of the
SE 1/4 of said Section 2 to the W line of County Rd. I to the N, thence
N_ 89�59'31" W. 267.52 ft. along the N line of the SE 1/4 of the SE 1/4
of said Section 2, thence N. O1°44'33" E. , 332. 16 ft. , tl�ence S_
89°55'25" E. along the N line of lands described in Doc. No. 439331,
Winnebago County Records, to the E line of said Section 2, thence N
along the E line of said Section 2 to tfie NE corner of tlie SE 1/4 of
said Section 2, thence W along the N line of SE 1/4 of said Section 2,
also being the N line of W. 35th Ave_ , to a point 870.90 ft. E of ttie SW
corner of the SE 1/4 of the NE 1/4 of said Section 2, thence N.
01�51'05" E. , 1288.61 ft. , thence S. 89�22'15" E. to the E line of said
Section 2, thence N along the E line of said Section 2 to a point 576.75
ft. S of the NE corner of said Section 2, ttience W parallel to tlie N
line of said Section 2, 506.85 ft. , thence N parallel to the E line of
said Section 2 to the point of beginning.
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FEBRUARY 21, 1991 g�-67 RESOLUTION (cont'd)
BE IT FURTHER RESOLVED that the improvements contemplated in TIF #8, City of
Oshkosh, are likely to significantly enhance the value of substantially all real
property in TIF District No. 8.
BE IT FURTHER RESOLVED that the value of equalized, taxable property in TIF
District No. 8, together with all other established Tax Incremental Finance
Districts, does not exceed 7% of the total equalized value of taxable property
within the City of Oshkosh.
BE IT FURTHER RESOLVED that not less than 50% of the real property within TID
#8 is suitable for industrial uses within the meaning of Section 66.52, Wis.
Stats. , and has been zoned for industsrial use.
BE IT FURTHER RESOLVED that the project costs are consistent with the purposes
for which the Tax Increment District is created with the primary objective being
the provision of land for industrial use and the installation of required public
improvements necessary to .promote industrial development within TID #8.
BE IT FURTHER ftESOLVED that all property within TID #8 is zoned for industrial
use and intended for industrial development and will remain zoned industrial for
the life of the District.
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