HomeMy WebLinkAbout33954 / 86-118JUNE 5 1986
�CARRIED LOST
PURPOSE:
INITIATED BY:
# iis
LAID OVER WITHDRAWN
RESOLUTION
)
ESTABLISHMENT OF JAY-KAY FABRICS, ING FAIR MARKET
VALUE AND PURCHASE OF SAME
CITY ADMINISTRATION
WHEREAS, the Common Council of the City of Oshkosh has approved Modification
�k2 of the Redevelopment Plan for the Oshkosh Centre Redevelopment Project Area
No. 1; and
WHEREAS, the Plan Commission has certified the project to the Common Council
as prescribed in Wisconsin Statntes, Section 66.43(5)(d); and
WHEREAS, an appraisal has been made on the property described as follows:
The south 6 inches of Lot 6, a11 of Lot 7, Block 22,
L.M. Mi11er's First Addition, 2nd Ward, City of
Oshkosh, Winnebago County, Wisconsin
iCommonly known as 202 North Main Street)
WHEREAS, a review appraisal has been submitted to the Common Council in
accordance with Title 3 of the Uniform Relocation Assistance and Real Property
Acquisition Policies Act of 1970 and requirements of HUD Handbook 1376.1; and
WHEREAS, the property and interest to be acquired includes land and
buildings exclusive of equipment and fixtures, both movable and immovable;
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Oshkosh
that the Common Council certifies that the work of the appraiser and the review
appraisal has been performed in a competent manner in accordance with appLicable
State laws, the Uniform Act, and Department of Housing and Urban Development
policies and requirements;
BE TT FURTHER RESOLVED by the Common Council of the City of Oshkosh that
fair market value for the Jay-Kay Fabrics, Inc_ property is hereby established
at ONE HUNDRED TWENTY-SIX THOUSAND DOLLARS �$126,000).
BE IT FURTHER RESOLVED that the proper City officials are hereby authorized
and directed to purchase said property in that amount and that money for this pur-
pose is hereby appropriated from Account No. 321-311 Oshkosh Centre/Ceape-Otter
Street Loop Project, all contingent upon appropriate approval by the U.S. Depart-
ment of Housing and Urban Development and the Wisconsin Department of Labor,
Industry and Human Relations.
- 19 -
SUB)[ITTED ➢Y
APPRO':E7 ' ��
RESOLOTION # 118
City of OshkGS�
October 25, 19�i5
�
O.fHK01H
ON iHE Nn:EP
Jackson R. Kinney
Directcr cf Carm.mity Develc�rr�nt
City Nall
Oshkosh, Wis.
Dear Mr. K;n�v•
_, .
:
At your re:,uest I have�revie�,ed the appraisal of 202 N. Main Street, Oshkosh, Wisconsin
as sutmitted by Fox Valley Appraisals Incorporated. ihe appraisal is an estirr�te of
maricet value as ef October 7, 1985. ihe ficure sutmitted in the appraisal is one hund-
red t+,�nty six thousand dollars (3126,000.00).
ihe appraisal ccrforms to all recor,nized appraisal practices and all thr� approaches
to the value have be� ccnsidered.
There is a snall differenc2 in the square footage of the buildirg used in the differerrt
approaches to value. Harever, the differences in the end results are rather snall and
probably would not change the final value estimai,e in the reconciliation of t'�e ap-
praisal. I concur with the estimate of value sutmitted as of October 7, 1985.
LCL:ch
- 19a -
Respectfully s�nitted,
�.�«y�.��
La�ll Lee
City Pssessor
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