HomeMy WebLinkAbout91-046 ,
FEBRUARY 7, 1991 91-46 RESOLUTION
(CARRIED LOST LAID OVER WITHDRAWN )
PURPOSE: APPROVE AGREEMENT WITH CHAMCO, INC.
INITIATED BY: CITY ADMINISTRATION
. BE IT RESOLVED by the Common Council of the City of Oshkosh that
the attached Agreement for sale of lands for industrial development
between the City of Oshkosh and Chamco, Inc. is hereby approved and
the proper City officials are hereby authorized and directed to enter
into same.
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� Res 91-46
A Q R E E M E N T
WHEREAS, the City of Oshkosh owns certain lands within the corporate limits of
the City of Oshkosh and desires to sell such lands for industrial development; and
WHEREAS, Chamco, Inc. , is a non-profit Wisconsin corporation interested in the
industrial development of the City of Oshkosh and having the means and ability to
work toward the development of land industrially;
NOW, THEftEFORE, the City of Oshkosh, hereinafter referred to as the "CITY",
and Chamco, Inc. , hereinafter referred to as "CHAMCO", in order to work towards
the industrial development of the following described property, viz:
A. SOUTH INDUSTRIAL PARK
B. NORTH INDUSTRIAL PARK
C. SOUTHWEST INDUSTRIAL PARK
D. NORTHWEST INDUSTRIAL PARK
E. OSHKOSH AVIATION INDUSTRIAL PARK
agrees as follows:
The City agrees:
1. That by these presents, for and in consideration of Ten Dollars ($10.00)
in hand paid, receipt of which is hereby acknowledged from Chamco, has agreed and
does agree to hold until the thirty-first (31st) day of December, 1991, at 12:00
PM, time being of the essence of this Agreement, an option, subject to the order
of Chamco to purchase all of the premises owned by the City of Oshkosh known as
and consisting of the following:
A. SOUTH INDUSTRIAL PARK
B. NORTH INDUSTRIAL PARK
C. SOUTHWEST INDUSTRIAL PARK
D. NORTHWEST INDUSTRIAL PARK
E. OSHKOSH AVIATION INDUSTRIAL PARK
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. ' Res 91-46
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 Chamco or such
person or persons as Chamco 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 Chamco 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 C�ty Attorney of the City. The
purchase price attached hereto includes, for the North and South Industrial Parks,
graded and graveled streets, sanitary sewer and water mains and storm sewers as
needed. The prices for the Southwest Industrial Park include graded and graveled
streets, sanitary sewers, water main and gas main and storm sewers, as needed.
The prices for the Northwest Industrial Park include graded and graveled streets,
sanitary sewer, gas main, water main and storm sewer, as needed.
2. Chamco, a non-profit organization, agrees:
(a) To attempt to work toward the industrial 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 "Industrial 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. Chamco shall monitor
the enforcement of these Covenants and if a breach occurs which requires
repurchase, then in that event, Chamco shall assign its right to
repurchase to the City.
3. This Agreement shall be terminable by either party by giving to the
other party six (6) months written notice of its desire to terminate.
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� REs 91-46
IN WITNESS WHEREOF, the City of Oshkosh, Wisconsin, and Chamco, Inc. have
respectively caused this Agreement to be duly executed on this day of
, 1991.
. IN THE PRESENCE OF: CITY OF OSHKOSH
By:
William D. Frueh, City Manager
And:
Donna C. Serwas, City Clerk
CHAMCO, INC.
By:
President
" And:
Secretary
STATE OF WISCONSIN )
) ss.
WINNEBAGO COUNTY )
Personally came before me this day of , 1991, the
above named William D. Frueh, City Manager, and Donna C. Serwas, 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:
STATE OF WISCONSIN )
) ss.
WINNEBAGO COUNTY )
Personally came before me this day of , 1991, the
above named , President, and
,
Secretary, of Chamco, Inc. , 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:
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• ` Res 91-46
"ATTACHMENT A"
CITY OF OSHKOSH
INDUSTRIAL PARK SALE3 POLICIES AND GUIDELINE3
Industrial Parks within the City of Oshkosh have been developed as a result of a
successful public-private partnership working for the community 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
industrial development to occur.
The sales policies and guidelines described herein will be followed when land
sales are considered in each of the City's Industrial Parks. These policies and
guidelines in combination with the Protective Covenants, are intended to promote
the overall quality of development, to attract quality, labor intensive companies,
and to ensure that the industrial parks remain successful public investments.
1) Chamco, Inc. is designated as the exclusive agent regarding the sale of
property in each of the City's Industrial Parks.
2) All contacts and communications with prospects will be handled on a confiden-
tial basis. '
3) To be considered for approval, a project must produce the following public
benefits:
(A) Initial construction on the site will produce a building to land coverage
of 11% minimum.
(B) The project will generate an initial taxable real estate value of
' $100,000 per acre, inclusive of land.
(C) The project will supply 3 jobs per acre of land purchased, with a
likelihood of creating an additional 3 jobs per acre within five (5)
years. •
Any sales proposal which does not meet one or more of these public benefits,
may still be considered for approval if, in the opinion of CHAMCO, Inc. , the
project fits the development objectives of the City and CHAMCO, Inc.
4) Land sales should be undertaken in such a manner so as to promote and
encourage compact and orderly development of each Park. The identification of
sites should be done so as to avoid the creation of remnant parcels and areas
of irregular shape and size. CHAMCO, Inc. shall consult with City staff in
the delineation of sites.
: ippolicy
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"ATTACHMENT B"
SCHEDULE OF 1991 PRICE9
A. SOUTH INDUSTRIAL PARK
Parcel #1 - 2.5 A $13,500 per acre
Parcel #2 - 6.2 A $17 500
, per acre
B. NORTH INDUSTftIAL PARK
Property fronting on Jackson St. $15,000
per acre
Property lying north of Fernau Ave. - $13,500 per acre
7.7+ A fronting on N. Main St.
Site on Fernau Ave. - 1.4 A $12,900 per acre
C. SOUTHWEST INDUSTRIAL PARK
Smaller parcels on Washburn St. and parcel $17,5U0 per acre
on SW corner of 20t1i Ave. & Universal St.
All parcels north of and fronting on Hwy. 44 $25,000 per acre
Parcels south of and fronting on Hwy. 44 $25,000 per acre
with a depth of 500 ft.
All other available sites in Park $13,50U per acre
D. NORTHWEST INDUSTRIAL PARK $11,9U0 per acre
E. OSHKOSH AVIATION INDUSTRIAL PARK $15,000 per acre
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.
Chamco, Inc. shall have the right to sell the properties which are the subject
matter of this Agreement and shall receive ten percent (lOX) plus $250.00 per acre
of the sellirig price for. :incidental expenses. .
Should the City determine to sell lund for less than the scheduled price, then
Chamco's ten percent (10�) 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, Ctiamco will be entitled, upon the resale
of said land, to a ten percent (lOX) commiss n figured on the value of any
increment that exists between the originals�-n�rice and the resale price, plus
$250.00 per acre for incidental expenses associated with said resale.
The above schedule sliall be in effect for calendar year 1991.
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