HomeMy WebLinkAboutItem III-Project Plan
Organizational Joint Review Board Meeting Held: Scheduled for February 2, 2017
Public Hearing Held: Scheduled for February 7, 2017
Approval by Plan Commission: Scheduled for February 7, 2017
Adoption by Common Council: Scheduled for February 28, 2017
Approval by the Joint Review Board: TBD
January 27, 2017
Project Plan for the Creation of
Tax Incremental District No. 31
(Buckstaff Redevelopment)
Tax Incremental District No. 31 Creation
Project Plan
City of Oshkosh Officials
Common Council
Steve Cummings Mayor
Debra L. Allison-Aasby Deputy Mayor
Caroline Panske Council Member
Lori Palmeri Council Member
Thomas R. Pech, Jr. Council Member
Steve Herman Council Member
Ben Stepanek Council Member
City Staff
Mark Rohloff City Manager
Allen Davis Community Development Director
Lynn Lorenson City Attorney
Darryn Burich Planning Director
Kelly Nieforth Economic Development Services Manager
Trena Larson Finance Director
Pamela Ubrig City Clerk
Plan Commission
David Borsuk Karl Nollenberger
Edward Bowen Kathleen Propp
Thomas Fojtik, Chair Jeffrey Thoms
John Hinz Robert Vajgrt
Kiefer John Mayor Steve Cummings
Joint Review Board
City Representative
Winnebago County
Fox Valley Technical College District
Oshkosh School District
Public Member
Table of Contents
EXECUTIVE SUMMARY ........................................................................................................................................... 1
TYPE AND GENERAL DESCRIPTION OF DISTRICT ........................................................................................ 4
PRELIMINARY MAPS OF PROPOSED DISTRICT BOUNDARY ...................................................................... 5
MAPS SHOWING EXISTING USES AND CONDITIONS ................................................................................... 7
PRELIMINARY PARCEL LIST AND ANALYSIS ................................................................................................... 9
EQUALIZED VALUE TEST ..................................................................................................................................... 10
STATEMENT OF KIND, NUMBER AND LOCATION OF PROPOSED PUBLIC WORKS AND OTHER
PROJECTS ................................................................................................................................................................ 11
MAPS SHOWING PROPOSED IMPROVEMENTS AND USES ...................................................................... 15
DETAILED LIST OF PROJECT COSTS .............................................................................................................. 17
ECONOMIC FEASIBILITY STUDY, FINANCING METHODS, AND THE TIME WHEN COSTS OR
MONETARY OBLIGATIONS RELATED ARE TO BE INCURRED .................................................................. 18
ANNEXED PROPERTY........................................................................................................................................... 23
ESTIMATE OF PROPERTY TO BE DEVOTED TO RETAIL BUSINESS ...................................................... 23
PROPOSED ZONING ORDINANCE CHANGES ................................................................................................ 23
PROPOSED CHANGES IN MASTER PLAN, MAP, BUILDING CODES AND CITY OF OSHKOSH
ORDINANCES .......................................................................................................................................................... 23
RELOCATION ........................................................................................................................................................... 23
ORDERLY DEVELOPMENT OF THE CITY OF OSHKOSH ............................................................................. 24
LIST OF ESTIMATED NON-PROJECT COSTS ................................................................................................. 24
OPINION OF ATTORNEY FOR THE CITY OF OSHKOSH ADVISING WHETHER THE PLAN IS
COMPLETE AND COMPLIES WITH WISCONSIN STATUTES 66.1105 ...................................................... 25
CALCULATION OF THE SHARE OF PROJECTED TAX INCREMENTS ESTIMATED TO BE PAID BY
THE OWNERS OF PROPERTY IN THE OVERLYING TAXING JURISDICTIONS ...................................... 26
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 1 January 27, 2017
SECTION 1:
Executive Summary
Description of District
Type of District, Size and Location
Tax Incremental District (“TID”) No. 31 (the “TID” or “District”) is a proposed 8.77 acre blighted area
located east of S. Main Street between E. 11th Avenue and E. South Park Avenue. Creation of the District
is intended to facilitate construction of a proposed privately owned sports and event arena and the
associated public infrastructure improvements that will be required to support it. A map of the proposed
District boundaries is located in Section 3 of this plan.
Estimated Total Project Expenditures.
The City anticipates making total Project Cost expenditures of approximately $8,155,000 to facilitate
construction of the arena and the associated public infrastructure improvements that will be required to
support it. The estimated expenditures include $3,320,000 for necessary street and utility improvements
on E. 11th Avenue, S. Park Avenue, S. Main Street and 12th Avenue, and $1,819,000 for private site
improvements consisting of environmental remediation costs, additional foundation work required for
construction due to soil conditions (geo-piers) and stormwater management. Costs for both the public and
private improvements are expected to be paid by the site developer and reimbursed through the tax
increments collected. In addition to the $5,139,000 in estimated public and private improvement costs
detailed above, the City expects to pay an estimated $2,800,000 in interest expense on the incentive
provided, and an estimated $215,000 in administrative costs that will be incurred over the life of the
District.
Economic Development
The City projects that additional land and improvements value of approximately $18 million will result
from creation of this District and construction of the arena. This additional value will be a result of the
improvements made and projects undertaken within the District. A table detailing assumptions as to the
timing of new development and redevelopment and associated values is located in Section 10 of this Plan.
In addition, creation of the District is expected to result in other economic benefits as detailed in the
Summary of Findings hereafter.
Expected Termination of District
Based on the Economic Feasibility Study located in Section 10 of this Plan, this District would be
expected to remain open for 17 years of its 27-year maximum statutory life.
Summary of Findings
As required by Wisconsin Statutes Section 66.1105, and as documented in this Project Plan and the
exhibits contained and referenced herein, the following findings are made:
1. That “but for” the creation of this District, the development projected to occur as detailed in
this Project Plan: 1) would not occur; or 2) would not occur in the manner, at the values, or
within the timeframe desired by the City. In making this determination, the City has considered
the following information:
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Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 2 January 27, 2017
In order to make the site included within the District suitable for use as a sports arena, the City
will need to make a substantial investment to pay for the costs of street and utility infrastructure
improvements. Due to the extensive initial investment in public infrastructure that is required in
order to allow development to occur, the City has determined that development will not occur
solely as a result of private investment. Accordingly, the City finds that absent the use of TIF,
development of a sports and event arena is unlikely to occur.
2. The economic benefits of the Tax Incremental District, as measured by increased employment,
business and personal income, and property value, are sufficient to compensate for the cost of
the improvements. In making this determination, the City has considered the following information:
As demonstrated in the Economic Feasibility Section of this Project Plan, the tax increments
projected to be collected are sufficient to pay for the cost of the development incentives and other
related Project Costs needed to allow for construction of the arena.
Seven full-time positions and one part-time position will be required for management and
operation of the facility, providing additional employment opportunity for area residents.
Additional employment opportunity will also result from facility construction, and from event
day employment for activities such as parking cars, ushers, security, ticketing, and food and
beverage vendors.
The Milwaukee Bucks developmental league team which will rent the facility will have 12
players on the roster at all times that will have housing provided for them in Oshkosh. The team
will have a head coach, two assistant coaches, an athletic trainer, and one director of basketball
operations. There will be a President hired and the team expects to hire up to 20 people locally.
The Team President and Basketball Operations position will live in Oshkosh full time. The other
20 positions will be in marketing, promotions, and ticket sales. At least half of these will be year-
round full time and the remaining will most likely be some type of year-round part time or during
the season only. Payroll and benefits for the local staff on both the basketball and business side
are estimated to be $1 million per year.
The University of Wisconsin Extension office performed an economic impact analysis for Greater
Oshkosh, looking at a very conservative and worst case scenario. At half stadium capacity
(1,750), assuming half are coming from outside of the county (875), per season it equates to
$525,000 in new money coming in (based on a $15/ticket and spending $10/person on food in the
arena) per D League season. This does not account for:
Money spent by current residents
Money spent on higher end seats (VIP/season tickets, floor seats, etc.)
Money spent outside the arena by current residents (restaurants/bars, etc.)
Money spent outside the arena by visitors (restaurants/bars, shopping, overnights, etc.)
If the stadium is above half capacity
Any other of the 2-4 events per month held at arena throughout the year (sports
tournaments, concerts, etc.)
Money spent by team and management in residence during the season (residence, food,
entertainment, etc.)
3. The benefits of the proposal outweigh the anticipated tax increments to be paid by the owners
of property in the overlying taxing jurisdictions.
If approved, the District’s creation would become effective for valuation purposes as of January
1, 2017. As of this date, the values of all existing real and personal property within the District
would be frozen and the property taxes collected on this base value would continue to be
distributed amongst the various taxing entities as they currently are now. Taxes levied on any
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 3 January 27, 2017
additional value established within the District due to new construction, renovation or
appreciation of property values occurring after January 1, 2017 would be collected by the TID
and used to repay the costs of TIF-eligible projects undertaken within the District.
Since the development expected to occur is unlikely to take place or in the same manner without
the use of TIF (see Finding #1) and since the District will generate economic benefits that are
more than sufficient to compensate for the cost of the improvements (see Finding #2), the City
reasonably concludes that the overall benefits of the District outweigh the anticipated tax
increments to be paid by the owners of property in the overlying taxing jurisdictions. It is further
concluded that since the “but for” test is satisfied, there would, in fact, be no foregone tax
increments to be paid in the event the District is not created. As required by Section
66.1105(4)(i)4, a calculation of the share of projected tax increments estimated to be paid by the
owners of property in the overlying taxing jurisdictions has been made and can be found in
Appendix A of this plan.
4. Not less than 50% by area of the real property within the District is a blighted area within the
meaning of Wisconsin Statutes Section 66.1105(2)(ae)1.
5. Based upon the findings, as stated above, the District is declared to be a blighted area District based
on the identification and classification of the property included within the District.
6. The project costs relate directly to promoting the elimination of blight consistent with the purpose for
which the District is created.
7. The improvement of such area is likely to enhance significantly the value of substantially all of the
other real property in the District.
8. The equalized value of taxable property of the District, plus the value increment of all existing tax
incremental districts within the City, does not exceed 12% of the total equalized value of taxable
property within the City.
9. The City estimates that less than 35% of the territory within the District will be devoted to retail
business at the end of the District’s maximum expenditure period, pursuant to Wisconsin Statutes
Sections 66.1105(5)(b) and 66.1105(6)(am)1.
10. The Project Plan for the District in the City is feasible, and is in conformity with the master plan of
the City.
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 4 January 27, 2017
SECTION 2:
Type and General Description of District
The District, comprising 8.77 acres located east of S. Main Street between E. 11th Avenue and E. South
Park Avenue, is being created by the City under the authority provided by Wisconsin Statute Section
66.1105 and will be classified as a blighted area district based on a finding that at least 50%, by area, of
the real property within the District meets that condition as defined in Wisconsin Statute Section
66.11105(2)(ae)1. The preliminary parcel list included in Section 5 to this Plan identifies those parcels
meeting those criteria. Collectively, these parcels represent 91.79% of the total District area.
Creation of the District is intended to facilitate construction of a proposed privately owned sports and
event arena and the associated public infrastructure improvements that will be required to support it. A
preliminary map of the proposed District boundary can be found in Section 3 of this Plan.
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 5 January 27, 2017
SECTION 3:
Preliminary Maps of Proposed District Boundary
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 6 January 27, 2017
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 7 January 27, 2017
SECTION 4:
Maps Showing Existing Uses and Conditions
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 8 January 27, 2017
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_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 10 January 27, 2017
SECTION 6:
Equalized Value Test
The following calculations demonstrate that the City is in compliance with Wisconsin Statutes
Section.66.1105(4)(gm)4.c., which requires that the equalized value of the taxable property in the
proposed District, plus the value increment of all existing tax incremental districts, does not exceed 12%
of the total equalized value of taxable property within the City.
The equalized value of the increment of existing tax incremental districts within the City, plus the base
value of the proposed District, totals $264,280,139. This value is less than the maximum of $453,147,036
in equalized value that is permitted for the City of Oshkosh. The City therefore expects to be in
compliance with the statutory equalized valuation test and may proceed with creation of this District.
District Creation Date2/28/2017
Valuation DataPercentValuation Data
Currently AvailableChangeEst. Creation Date
2016
Total EV (TID In)3,776,225,3003,776,225,300
12% Test453,147,036453,147,036
Total Existing Increment264,138,900264,138,900
Projected Base of New or Amended District141,239141,239
Total Value Subject to 12% Test264,280,139264,280,139
Compliance PASSPASS
City of Oshkosh, Wisconsin
Tax Increment District # 31
Valuation Test Compliance Calculation
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 11 January 27, 2017
SECTION 7:
Statement of Kind, Number and Location of Proposed
Public Works and Other Projects
Project Costs are any expenditure made, estimated to be made, or monetary obligations incurred or
estimated to be incurred, by the City as outlined in this Plan. Project Costs will be diminished by any
income, special assessments or other revenues, including user fees or charges received. To the extent the
costs of a Project benefit the City outside the District that proportionate share of the cost is not a Project
Cost. Costs identified in this Plan are preliminary estimates made prior to design considerations and are
subject to change after planning is completed. Pro-ration of costs in the Plan are also estimates and
subject to change based upon implementation, future assessment policies and user fee adjustments.
The following is a list of public works and other TIF-eligible projects that the City may need to
implement in conjunction with this District. Any costs necessary or convenient to the creation of the
District or directly or indirectly related to the public works and other projects are considered Project Costs
and eligible to be paid with tax increment revenues of the District.
Property, Right-of-Way and Easement Acquisition
Property Acquisition
In order to promote and facilitate redevelopment the City may acquire property within the District. The
cost of property acquired, and any costs associated with the transaction, are eligible Project Costs.
Following acquisition, other Project Costs within the categories detailed in this Section may be incurred
in order to make the property suitable for development and/or redevelopment. Any revenue received by
the City from the sale of property acquired pursuant to the execution of this Plan will be used to reduce
the total project costs of the District. If total Project Costs incurred by the City to acquire property and
make it suitable for development and/or redevelopment exceed the revenues or other consideration
received from the sale or lease of that property, the net amount shall be considered “real property
assembly costs” as defined in Wisconsin Statutes Section 66.1105(2)(f)1.c., and subject to recovery as an
eligible Project Cost.
Acquisition of Rights-of-Way
The City may need to acquire property to allow for installation of streets, driveways, sidewalks, utilities,
stormwater management practices and other public infrastructure. Costs incurred by the City to identify,
negotiate and acquire rights-of-way are eligible Project Costs.
Acquisition of Easements
The City may need to acquire temporary or permanent easements to allow for installation and
maintenance of streets, driveways, sidewalks, utilities, stormwater management practices and other public
infrastructure. Costs incurred by the City to identify, negotiate and acquire easement rights are eligible
Project Costs.
Relocation Costs
If relocation expenses are incurred in conjunction with the acquisition of property, those expenses are
eligible Project Costs. These costs may include, but are not limited to: preparation of a relocation plan;
allocations of staff time; legal fees; publication of notices; obtaining appraisals; and payment of relocation
benefits as required by Wisconsin Statutes Sections 32.19 and 32.195.
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 12 January 27, 2017
Site Preparation Activities
Environmental Audits and Remediation
Any cost incurred by the City related to environmental audits, testing, and remediation are eligible Project
Costs.
Demolition
In order to make sites suitable for development, the City may incur costs related to demolition and
removal of structures or other land improvements, to include abandonment of wells or other existing
utility services.
Site Grading
Land within the District may require grading to make it suitable for development and/or redevelopment,
to provide access, and to control stormwater runoff. The City may need to remove and dispose of excess
material, or bring in fill material to provide for proper site elevations. Expenses incurred by the City for
site grading are eligible Project Costs.
Utilities
Sanitary Sewer System Improvements
There are inadequate sanitary sewer facilities serving areas of the District. To allow redevelopment to
occur, the City may need to construct, alter, rebuild or expand sanitary sewer infrastructure within the
District. Eligible Project Costs include, but are not limited to, construction, alteration, rebuilding or
expansion of: collection mains; manholes and cleanouts; service laterals; force mains; interceptor sewers;
and all related appurtenances. To the extent sanitary sewer projects undertaken within the District provide
direct benefit to land outside of the District, the City will make an allocation of costs based on such
benefit. Those costs corresponding to the benefit allocated to land within the District, and necessitated by
the implementation of the Project Plan, are eligible Project Costs. Implementation of the Project Plan may
also require that the City construct, alter, rebuild or expand sanitary sewer infrastructure located outside
of the District. That portion of the costs of sanitary sewer system projects undertaken outside the District
which are necessitated by the implementation of the Project Plan are eligible Project Costs.
Water System Improvements
There are inadequate water distribution facilities serving areas of the District. To allow redevelopment to
occur, the City may need to construct, alter, rebuild or expand water system infrastructure within the
District. Eligible Project Costs include, but are not limited to, construction, alteration, rebuilding or
expansion of: distribution mains; manholes and valves; hydrants; service laterals; and all related
appurtenances. To the extent water system projects undertaken within the District provide direct benefit to
land outside of the District, the City will make an allocation of costs based on such benefit. Those costs
corresponding to the benefit allocated to land within the District, and necessitated by the implementation
of the Project Plan, are eligible Project Costs. Implementation of the Project Plan may also require that
the City construct, alter, rebuild or expand water system infrastructure located outside of the District.
That portion of the costs of water system projects undertaken outside the District which are necessitated
by the implementation of the Project Plan are eligible Project Costs.
Stormwater Management System Improvements
Redevelopment within the District will cause stormwater runoff and pollution. To manage this stormwater
runoff, the City may need to construct, alter, rebuild or expand stormwater management infrastructure
within the District. Eligible Project Costs include, but are not limited to, construction, alteration,
rebuilding or expansion of: stormwater collection mains; inlets, manholes and valves; service laterals; and
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 13 January 27, 2017
infiltration, filtration and detention Best Management Practices (BMP’s). To the extent stormwater
management system projects undertaken within the District provide direct benefit to land outside of the
District, the City will make an allocation of costs based on such benefit. Those costs corresponding to the
benefit allocated to land within the District, and necessitated by the implementation of the Project Plan,
are eligible Project Costs. Implementation of the Project Plan may also require that the City construct,
alter, rebuild or expand stormwater management infrastructure located outside of the District. That
portion of the costs of stormwater management system projects undertaken outside the District which are
necessitated by the implementation of the Project Plan are eligible Project Costs.
Streets and Streetscape
Street Improvements
There are inadequate street improvements serving areas of the District. To allow redevelopment to occur,
the City may need to construct and/or reconstruct streets, highways, alleys, access drives and parking
areas. Eligible Project Costs include, but are not limited to: excavation; removal or placement of fill;
construction of road base; asphalt or concrete paving or repaving; installation of curb and gutter;
installation of sidewalks and bicycle lanes; installation of culverts, signals; utility relocation, to include
burying overhead utility lines; street lighting; installation of traffic control signage and traffic signals;
pavement marking; right-of-way restoration; installation of retaining walls; and installation of fences,
berms, and landscaping.
Streetscaping and Landscaping
In order to attract redevelopment consistent with the objectives of this Plan, the City may install
amenities to enhance development sites, rights-of-way and other public spaces. These amenities include,
but are not limited to: landscaping, lighting of streets, sidewalks, parking areas and public areas;
installation of planters, benches, clocks, tree rings, trash receptacles and similar items; and installation of
brick or other decorative walks, terraces and street crossings. These and any other similar amenities
installed by the City are eligible Project Costs.
RDA Type Activities
Contribution to Redevelopment Authority
As provided for in Wisconsin Statue Sections 66.1105(2)(f)1h and 66.1333(13), the City may provide
funds to its RDA to be used for administration, planning operations, and capital costs, including but not
limited to real property acquisition, related to the purposes for which it was established in furtherance of
any redevelopment or urban renewal project. Funds provided to the RDA for this purpose are eligible
Project Costs.
Revolving Loan/Grant Program
To encourage private redevelopment consistent with the objectives of this Plan, the City, through its
RDA, may provide loans and/or matching grants to eligible property owners in the District. Loan and/or
matching grant recipients will be required to sign an agreement specifying the nature of the property
improvements to be made. Eligible improvements will be those that are likely to improve the value of the
property, enhance the visual appearance of the property and surrounding area, correct safety deficiencies,
or as otherwise specified by the RDA in the program manual. Any funds returned to the RDA from the
repayment of loans made are not considered revenues to the District, and will not be used to offset
District Project Costs. Instead, these funds may be placed into a revolving loan fund and will continue to
be used for the program purposes stated above. Any funds provided to the RDA for purposes of
implementing this program are considered eligible Project Costs.
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 14 January 27, 2017
Miscellaneous
Cash Grants (Development Incentives)
The City may enter into agreements with property owners, lessees, or developers of land located within
the District for the purpose of sharing costs to encourage the desired kind of improvements and assure tax
base is generated sufficient to recover project costs. No cash grants will be provided until the City
executes a developer agreement with the recipient of the cash grant. Any payments of cash grants made
by the City are eligible Project Costs.
Projects Outside the Tax Increment District
Pursuant to Wisconsin Statutes Section 66.1105(2)(f)1.n, the City may undertake projects within territory
located within one-half mile of the boundary of the District provided that: 1) the project area is located
within the City’s corporate boundaries and 2) the projects are approved by the Joint Review Board. The
cost of projects completed outside the District pursuant to this section are eligible project costs, and may
include any project cost that would otherwise be eligible if undertaken within the District. The City
intends to make the following project cost expenditures outside the District: improvement of portions of
E. 11th Avenue, S. Park Avenue, S Main Street and 12th Avenue which adjoin but do not lie entirely
within the boundaries of the District.
Professional Service and Organizational Costs
The costs of professional services rendered, and other costs incurred, in relation to the creation,
administration and termination of the District, and the undertaking of the projects contained within this
Plan, are eligible Project Costs. Professional services include, but are not limited to: architectural;
environmental; planning; engineering; legal; audit; financial; and the costs of informing the public with
respect to the creation of the District and the implementation of the Plan.
Administrative Costs
The City may charge to the District as eligible Project Costs reasonable allocations of administrative
costs, including, but not limited to, employee salaries. Costs allocated will bear a direct connection to the
time spent by City employees in connection with the implementation of the Plan.
Financing Costs
Interest expense, debt issuance expenses, redemption premiums, and any other fees and costs incurred in
conjunction with obtaining financing for projects undertaken under this Plan are eligible Project Costs.
With all Projects the costs of engineering, design, survey, inspection, materials, construction, restoring
property to its original condition, apparatus necessary for public works, legal and other consultant fees,
testing, environmental studies, permits, updating City ordinances and plans, judgments or claims for
damages and other expenses are included as Project Costs.
In the event any of the Project Cost expenditures included in this Plan are determined not to be
reimbursable out of the TIF fund by counsel retained by the City for purposes of making such
determination, or a court of record so rules in a final order, then such Project Cost is deleted from this
Plan and the remainder of the Projects shall be deemed the entirety of the Projects for purposes of this
Plan.
The City reserves the right to implement only those projects that remain viable as the Plan period
proceeds.
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 15 January 27, 2017
SECTION 8:
Maps Showing Proposed Improvements and Uses
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 16 January 27, 2017
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 17 January 27, 2017
SECTION 9:
Detailed List of Project Costs
All costs are based on 2017 prices and are preliminary estimates. The City reserves the right to increase
these costs to reflect inflationary increases and other uncontrollable circumstances between 2017 and the
time the expenditure is made. The City also reserves the right to increase certain Project Costs to the
extent others are reduced or not implemented without amending the Plan. The tax increment allocation is
preliminary and is subject to adjustment based upon the implementation of the Plan.
This Plan is not meant to be a budget nor an appropriation of funds for specific projects, but a
framework within which to manage projects. All costs included in the Plan are estimates based on
best information available. The City retains the right to delete projects or change the scope and/or
timing of projects implemented as they are individually authorized by the Common Council,
without amending the Plan.
Proposed TIF Project Cost Estimates
Supporting Project List Providing Basis for Development Incentive
1Concrete Paving2017324,000180,000292,500796,500
2Water Main2017162,00086,000130,000378,000
3Sanitary Sewer Main201780,00066,000169,000315,000
4Storm Sewer201770,000970,000110,0001,150,000
5Sidewalk 201757,60032,00030,00016,250135,850
6Traffic Signals2017125,000125,000250,000
7Street Lights201779,20044,000100,00071,500294,700
8Remediation Expense2017825,000825,000
9Geo Pier & Grid Installation2017759,600759,600
10Stormwater Management2017234,050234,050
Total Supporting Project List897,8001,503,000130,000789,2501,818,6505,138,700
Estimated Project List
11Development Incentive Principal2019 ‐ 2035(Total from Above)5,138,700
12Development Incentive Interest2019 ‐ 20352,801,442
13Administrative Costs2017 ‐ 2035215,000
Total Projects 8,155,142
Notes:
1Cost estimates for Project ID Nos. 1 ‐ 10 provided by City staff.
2Portions of E. 11th Avenue, S. Park Avenue, S Main Street and 12th Avenue that will be improved adjoin but do not lie entirely within the boundaries of the District. To the extent improvements
2are made outside the District, these improvements are eligible Project Costs pursuant to Wisconsin Statutes Section 66.1105(2)(f)1.n.
City of Oshkosh, Wisconsin
Tax Increment District # 31
& Estimated Project List1 & 2
TotalProject
ID Project Name/TypeE. 11th AveS. Park AveS. Main St.Projected
Year 12th AveSite Work
TotalProject
ID Project Name/Type Projected
Year
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 18 January 27, 2017
SECTION 10:
Economic Feasibility Study, Financing Methods, and the
Time When Costs or Monetary Obligations Related are to
be Incurred
The information and exhibits contained within this Section demonstrate that the proposed District is
economically feasible insofar as:
The City has available to it the means to secure the necessary financing required to accomplish
the projects contained within this Plan. A listing of “Available Financing Methods” follows.
The City expects to complete the projects in one or multiple phases, and can adjust the timing of
implementation as needed to coincide with the pace of private development. A discussion of the
phasing and projected timeline for project completion is discussed under “Plan Implementation”
within this Section. A table identifying the financing method for each phase and the time at which
that financing is expected to be incurred is included.
The development anticipated to occur as a result of the implementation of this Plan will generate
sufficient tax increments to pay for the cost of the projects. Within this Section are tables
identifying: 1) the development expected to occur, 2) a projection of tax increments to be
collected resulting from that development and other economic growth within the District, and 3) a
cash flow model demonstrating that the projected tax increment collections and all other revenues
available to the District will be sufficient to pay all Project Costs.
Available Financing Methods
To the extent Project Costs cannot be paid from cash on hand, the following is a list of the types of debt
obligations that the City could utilize to raise the capital needed to finance Project Costs or to pay
commitments to developers.
General Obligation (G.O.) Bonds or Notes
The City may issue G.O. Bonds or Notes to finance the cost of projects included within this Plan. The
Wisconsin State Constitution limits the principal amount of G.O. debt that the City may have outstanding
at any point in time to an amount not greater than five percent of its total equalized value. As of
December 31, 2016 the City had approximately $48.6 million in unused G.O. debt capacity available.
Bonds Issued to Developers (“Pay as You Go” Financing)
The City may issue a bond or other obligation to one or more developers who provide financing for
projects included in this Plan. Repayment of the amounts due to the developer under the bonds or other
obligations are limited to an agreed percentage of the available annual tax increments collected that result
from the improvements made by the developer. To the extent the tax increments collected are insufficient
to make annual payments, or to repay the entire obligation over the life of the District, the City’s
obligation is limited to not more than the agreed percentage of the actual increments collected. Bonds or
other obligations issued to developers in this fashion are not general obligations of the City and, therefore,
do not count against the City’s statutory borrowing capacity.
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 19 January 27, 2017
Tax Increment Revenue Bonds
The City has the authority to issue revenue bonds secured by the tax increments to be collected. These
bonds may be issued directly by the City, or as a form of lease revenue bond by a Redevelopment
Authority (RDA). Tax Increment Revenue Bonds and Lease Revenue Bonds are not general obligations
of the City and therefore do not count against the City’s statutory borrowing capacity. To the extent tax
increments collected are insufficient to meet the annual debt service requirements of the revenue bonds,
the City may be subject to either a permissive or mandatory requirement to appropriate on an annual basis
a sum equal to the actual or projected shortfall.
Utility Revenue Bonds
The City can issue revenue bonds to be repaid from revenues of its various systems, including revenues
paid by the City that represent service of the system to the City. There is neither a statutory nor
constitutional limitation on the amount of revenue bonds that can be issued, however, water rates are
controlled by the Wisconsin Public Service Commission and the City must demonstrate to bond
purchasers its ability to repay revenue debt with the assigned rates. To the extent the City utilizes utility
revenues other than tax increments to repay a portion of the bonds, the City must reduce the total eligible
Project Costs in an equal amount.
Special Assessment “B” Bonds
The City has the ability to levy special assessments against benefited properties to pay part of the costs for
street, curb, gutter, sewer, water, storm sewers and other infrastructure. In the event the City determines
that special assessments are appropriate, the City can issue Special Assessment B bonds pledging
revenues from special assessment installments to the extent assessment payments are outstanding. These
bonds are not counted against the City's statutory borrowing capacity. If special assessments are levied,
the City must reduce the total eligible Project Costs under this Plan in an amount equal to the total
collected.
Plan Implementation
The City anticipates making total Project Cost expenditures of approximately $8,155,000 to facilitate
construction of a proposed privately owned sports arena and the associated public infrastructure
improvements that will be required to support it. The estimated expenditures include $3,320,000 for
necessary street and utility improvements on E. 11th Avenue, S. Park Avenue, S. Main Street and 12th
Avenue, and $1,819,000 for private site improvements consisting of private site improvements consisting
of environmental remediation costs, additional foundation work required for construction due to soil
conditions (geo-piers) and stormwater management. Costs for both the public and private improvements
are expected to be paid by the site developer and reimbursed through the tax increments collected. In
addition to the $5,139,000 in estimated public and private improvement costs detailed above, the City
expects to pay an estimated $2,800,000 in interest expense on the incentive provided, and an estimated
$215,000 in administrative costs that will be incurred over the life of the District.
If financing as outlined in this Plan proves unworkable, the City reserves the right to use alternate
financing solutions for the projects as they are implemented.
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 20 January 27, 2017
Development Assumptions
ActualArenaAnnual Total
1201718,000,00018,000,00020171
22018020182
32019020193
42020020204
52021020215
62022020226
72023020237
82024020248
92025020259
1020260202610
1120270202711
1220280202812
1320290202913
1420300203014
1520310203115
1620320203216
1720330203317
1820340203418
1920350203519
2020360203620
2120370203721
2220380203822
2320390203923
2420400204024
2520410204125
2620420204226
2720430204327
Totals018,000,00018,000,000
Notes:
1Estimated valuation provided by City of Oshkosh staff on 1‐4‐2017.
Construction YearConstruction Year
City of Oshkosh, Wisconsin
Tax Increment District # 31
Development Assumptions1
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 21 January 27, 2017
Increment Revenue Projections
Type of DistrictBase Value141,239
District Creation DateAppreciation Factor0.00%Apply to Base Value
Valuation DateJan 1,2017Base Tax Rate$26.98
Max Life (Years)Rate Adjustment Factor
Expenditure Period/Termination222/28/2039
Revenue Periods/Final Year272045
Extension Eligibility/YearsYes304.00%
Recipient DistrictTaxable Discount Rate5.50%
Construction
YearValue AddedValuation Year
Inflation
Increment
Total
IncrementRevenue YearTax Rate1 Tax Increment
Tax Exempt
NPV
Calculation
Taxable NPV
Calculation
1201718,000,0002018018,000,0002019$26.98 485,696 467,016460,376
2201802019018,000,0002020$26.98 485,696 916,069896,750
3201902020018,000,0002021$26.98 485,696 1,347,8511,310,376
4202002021018,000,0002022$26.98 485,696 1,763,0261,702,438
5202102022018,000,0002023$26.98 485,696 2,162,2332,074,061
6202202023018,000,0002024$26.98 485,696 2,546,0862,426,310
7202302024018,000,0002025$26.98 485,696 2,915,1752,760,195
8202402025018,000,0002026$26.98 485,696 3,270,0683,076,674
9202502026018,000,0002027$26.98 485,696 3,611,3123,376,655
10202602027018,000,0002028$26.98 485,696 3,939,4313,660,996
11202702028018,000,0002029$26.98 485,696 4,254,9303,930,514
12202802029018,000,0002030$26.98 485,696 4,558,2944,185,981
13202902030018,000,0002031$26.98 485,696 4,849,9914,428,130
14203002031018,000,0002032$26.98 485,696 5,130,4684,657,655
15203102032018,000,0002033$26.98 485,696 5,400,1584,875,215
16203202033018,000,0002034$26.98 485,696 5,659,4755,081,432
17203302034018,000,0002035$26.98 485,696 5,908,8195,276,899
18203402035018,000,0002036$26.98 485,696 6,148,5725,462,175
19203502036018,000,0002037$26.98 485,696 6,379,1045,637,793
20203602037018,000,0002038$26.98 485,696 6,600,7705,804,255
21203702038018,000,0002039$26.98 485,696 6,813,9095,962,039
22203802039018,000,0002040$26.98 485,696 7,018,8516,111,597
23203902040018,000,0002041$26.98 485,696 7,215,9116,253,359
24204002041018,000,0002042$26.98 485,696 7,405,3926,387,730
25204102042018,000,0002043$26.98 485,696 7,587,5856,515,096
26204202043018,000,0002044$26.98 485,696 7,762,7706,635,822
27204302044018,000,0002045$26.98 485,696 7,931,2176,750,254
Totals18,000,0000Future Value of Increment13,113,797
Notes:
1Tax rate shown is actual TID Interim Rate for the 2016/17 levy per DOR Form PC‐202 (Tax Increment Collection Worksheet).
City of Oshkosh, Wisconsin
Tax Increment District # 31
Tax Increment Projection Worksheet
Blighted Area
February 28, 2017
27
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04,358,0542023
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04,076,4752024
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03,144,4162027
20
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02,802,1552028
20
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01,669,2312031
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01,253,2122032
20
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2
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2
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2
0
4
5
To
t
a
l
1
3
,
1
1
3
,
7
9
7
4
8
1
,
5
7
9
13
,
5
9
5
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3
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6
7,9
4
0
,
1
4
2
2
1
5
,
0
0
0
8,
1
5
5
,
1
4
2
Total
No
t
e
s
:
1Pe
r
c
e
n
t
a
g
e
,
te
r
m
an
d
in
t
e
r
e
s
t
ra
t
e
sh
o
w
n
fo
r
pu
r
p
o
s
e
s
of
es
t
a
b
l
i
s
h
i
n
g
ec
o
n
o
m
i
c
fe
a
s
i
b
i
l
i
t
y
on
l
y
.
Th
e
Ci
t
y
ha
s
no
t
ag
r
e
e
d
to
te
r
m
s
or
co
n
d
i
t
i
o
n
s
wit
h
th
e
pr
o
p
o
s
e
d
de
v
e
l
o
p
e
r
as
to
an
y
pu
b
l
i
c
participation in the project.
2In
i
t
i
a
l
pr
i
n
c
i
p
a
l
am
o
u
n
t
of
de
v
e
l
o
p
m
e
n
t
in
c
e
n
t
i
v
e
is
eq
u
a
l
to
th
e
Cit
y
'
s
es
t
i
m
a
t
e
d
co
s
t
of
th
e
pu
b
l
i
c
im
p
r
o
v
e
m
e
n
t
s
an
d
TI
D
el
i
g
i
b
l
e
si
t
e
im
p
r
o
v
e
m
e
n
t
s
th
a
t
wil
l
be
re
q
u
i
r
e
d
to
su
p
p
o
r
t
th
e
re
d
e
v
e
l
o
p
m
e
n
t
project.
2In
i
t
i
a
l
pr
i
n
c
i
p
a
l
am
o
u
n
t
of
de
v
e
l
o
p
m
e
n
t
in
c
e
n
t
i
v
e
is
eq
u
a
l
to
th
e
Cit
y
'
s
es
t
i
m
a
t
e
d
co
s
t
of
th
e
pu
b
l
i
c
im
p
r
o
v
e
m
e
n
t
s
an
d
TI
D
el
i
g
i
b
l
e
si
t
e
im
p
r
o
v
e
m
e
n
t
s
th
a
t
wil
l
be
re
q
u
i
r
e
d
to
su
p
p
o
r
t
th
e
re
d
e
v
e
l
o
p
m
e
n
t
project.
Pr
o
j
e
c
t
e
d
Re
v
e
n
u
e
s
Ta
x
In
c
r
e
m
e
n
t
s
In
t
e
r
e
s
t
Ea
r
n
i
n
g
s
/
(C
o
s
t
)
To
t
a
l
Re
v
e
n
u
e
s
Balances
Ad
m
i
n
.
Ex
p
e
n
d
i
t
u
r
e
s
To
t
a
l
Ex
p
e
n
d
i
t
u
r
e
s
An
n
u
a
l
C
u
m
u
l
a
t
i
v
e
PAYGO Principal Outstanding
Be
g
i
n
n
i
n
g
Pr
i
n
c
i
p
a
l
2
En
d
i
n
g
Pr
i
n
c
i
p
a
l
De
v
e
l
o
p
e
r
In
c
e
n
t
i
v
e
Pa
y
m
e
n
t
s
Pa
y
As
Yo
u
Go
(P
A
Y
G
O
)
De
v
e
l
o
p
e
r
Ob
l
i
g
a
t
i
o
n
1
De
f
e
r
r
e
d
In
t
e
r
e
s
t
Pr
o
jected TID Closure
Ca
s
h
F
l
o
w
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 23 January 27, 2017
SECTION 11:
Annexed Property
There are no lands proposed for inclusion within the District that were annexed by the City on or after
January 1, 2004.
SECTION 12:
Estimate of Property to be Devoted to Retail Business
Pursuant to Wisconsin Statutes Sections 66.1105(5)(b) and 66.1105(6)(am)1, the City estimates that less
than 35% of the territory within the District will be devoted to retail business at the end of the District’s
maximum expenditure period.
SECTION 13:
Proposed Zoning Ordinance Changes
The proposed Plan is in general conformance with the City of Oshkosh’s present zoning and no changes
are anticipated to the Plan area’s Central Mixed Use – Planned Development (CMU-PD) Overlay zoning.
SECTION 14:
Proposed Changes in Master Plan, Map, Building Codes
and City of Oshkosh Ordinances
The proposed Plan is in general conformance with the City of Oshkosh’s Comprehensive Plan identifying
the area as appropriate for mixed downtown development. All development within the District will be
required to conform to the State Building Codes and will be subject to the City's permitting and inspection
procedures. The proposed Plan conforms to all relevant State and local ordinances, plans, and codes, thus,
no changes to the existing regulations are proposed or needed.
SECTION 15:
Relocation
Implementation of this Plan will not require relocation of individuals or business operations. If relocation
were to become necessary, it will be carried out in accordance with the relocation requirements set forth
in Chapter 32 of the Wisconsin Statutes and the Federal Uniform Relocation Assistance and Real
Property Acquisitions Policy Act of 1970 (P.L. 91-646) as applicable.
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 24 January 27, 2017
SECTION 16:
Orderly Development of the City of Oshkosh
Creation of the District and the implementation of the projects in its Plan will promote the orderly
development of the City of Oshkosh by eliminating blight and encouraging redevelopment of an
underutilized site. By utilizing the provisions of the Tax Increment Finance Law, the City can stabilize
property values and attract new investment that results in increased tax base. Development of new uses in
the District will add to the tax base and will generate positive secondary impacts in the community such
as increased employment opportunities and increased demand for retail, service and hospitality related
services.
SECTION 17:
List of Estimated Non-Project Costs
Non-Project costs are public works projects that only partly benefit the District or are not eligible to be
paid with tax increments, or costs not eligible to be paid with TIF funds.
Examples would include:
A public improvement made within the District that also benefits property outside the District. That
portion of the total project costs allocable to properties outside of the District would be a non-project cost.
A public improvement made outside the District that only partially benefits property within the District.
That portion of the total project costs allocable to properties outside of the District would be a non-project
cost.
Projects undertaken within the District as part of the implementation of this Project Plan, the costs of
which are paid fully or in part by impact fees, grants, special assessments, or revenues other than tax
increments.
The City does not expect to incur any non-project costs in the implementation of this Project Plan.
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 25 January 27, 2017
SECTION 18:
Opinion of Attorney for the City of Oshkosh Advising
Whether the Plan is Complete and Complies with
Wisconsin Statutes 66.1105
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 26 January 27, 2017
Statement of Taxes Data Year:2015Percentage
Winnebago County19,019,11319.58%
City of Oshkosh40,658,28941.85%
School District of Oshkosh Area33,555,43834.54%
Fox Valley Technical College3,910,2344.03%
Total97,143,074
Revenue Year
Winnebago
CountyCity of Oshkosh
School District
of Oshkosh
Area
Fox Valley
Technical
CollegeTotalRevenue Year
201995,092203,283167,77119,550485,6962019
202095,092203,283167,77119,550485,6962020
202195,092203,283167,77119,550485,6962021
202295,092203,283167,77119,550485,6962022
202395,092203,283167,77119,550485,6962023
202495,092203,283167,77119,550485,6962024
202595,092203,283167,77119,550485,6962025
202695,092203,283167,77119,550485,6962026
202795,092203,283167,77119,550485,6962027
202895,092203,283167,77119,550485,6962028
202995,092203,283167,77119,550485,6962029
203095,092203,283167,77119,550485,6962030
203195,092203,283167,77119,550485,6962031
203295,092203,283167,77119,550485,6962032
203395,092203,283167,77119,550485,6962033
203495,092203,283167,77119,550485,6962034
203595,092203,283167,77119,550485,6962035
203695,092203,283167,77119,550485,6962036
203795,092203,283167,77119,550485,6962037
203895,092203,283167,77119,550485,6962038
203995,092203,283167,77119,550485,6962039
204095,092203,283167,77119,550485,6962040
204195,092203,283167,77119,550485,6962041
204295,092203,283167,77119,550485,6962042
204395,092203,283167,77119,550485,6962043
204495,092203,283167,77119,550485,6962044
204595,092203,283167,77119,550485,6962045
Total 2,567,4795,488,6524,529,805527,86113,113,797
Note: The projection shown above is provided to meet the requirements of Wisconsin Statute 66.1105(4)(i)4.
Estimated portion of taxes that owners of taxable property in each taxing jurisdiction
overlaying district would pay by jurisdiction.
Exhibit A:
Calculation of the Share of Projected Tax Increments
Estimated to be Paid by the Owners of Property in the
Overlying Taxing Jurisdictions