HomeMy WebLinkAboutRDA Full Agenda 2-23-17REDEVELOPMENT AUTHORITYof the City of Oshkoshc/o Community Development Department215 Church Ave., PO Box 1130Oshkosh, WI 54902-1130
(920) 236-5055(920) 236-5053 FAXhttp://www.ci.oshkosh.wi.us
H. ALLEN DAVIS
Executive Director
STEVE CUMMINGS
Chairman
REDEVELOPMENT AUTHORITY
OF THE CITY OF OSHKOSH
Oshkosh City Hall, Room 404
1:00 pm
February 23, 2017
1)ROLL CALL
2)CONSENT:Approve Minutes:February 14, 2017
3)NEW BUSINESS
17-05 Approve Developer Agreement with Fox Valley Pro Basketball,
Inc.; Approve Land Disposition –Proposed Multi-Purpose Arena at
1212 South Main Street
4)ADJOURNMENT
RDA Minutes February 14, 2017 Page 1
REDEVELOPMENT AUTHORITY MINUTES
February 14, 2017
PRESENT:Thomas Belter,Steve Cummings,Steve Hintz,Jason Lasky,Doug Person,
EXCUSED:Archie Stam
STAFF:Allen Davis, Executive Director/Community Development Director;Darlene
Brandt, Grants Coordinator;Andrea Flanigan, Recording Secretary;James Rabe
Public Works Director
Chairman Cummings called the meeting to order at 4:00 pm. Roll call was taken and a quorum
declared present.
The minutes of November 30, 2016 and January 12, 2017 were approved as distributed
(Lasky/Belter).
Res.17-02 Approve Lease Agreement With Fox Valley Pro Basketball, Inc.; 1212 South Main
Street Lot 2 of CSM 7081
Motion by Hintz to move Res.17-02
Seconded by Lasky
Mr. Davis stated the settlement agreement with the existing property owner states they must tear
down the buildings before the RDA/City can take possession of the lot. There are two lots on the
Buckstaff property and the arena will be built on Lot 2. The City is motivated to get control of Lot 2
so we can lease the property. The City is expected to take control of the lot any day now. The
developer plans to be on site in the next two weeks to begin installation of the geo piers.The
project will be similar to Marion Road by going through the VPLE process with the DNR. The land
will be leased, the City will receive the Certificate of Completion and then sell the land to Fox
Valley Pro Basketball, Inc. This lease is typical of the RDA and past projects,but is earlier since the
City does not own the site yet.Approving the lease agreement will keep the site on schedule.
Mr. Belter inquired how the delinquent taxes are being handled.
Mr. Davis stated the City has had conversations with the taxing jurisdictions and they said they
will forgive the taxes.
Mr.Belter inquired if the City can only lease the property until there is clear title.
Mr. Davis stated the City can close on the lot with delinquent taxes on the property and the City
will work to have those removed before the property is sold.The taxing jurisdictions have
RDA Minutes February 14, 2017 Page 2
committed to forgiving the delinquent taxes, however, it still needs to go through the process with
the County Board to have that done.
Mr. Hintz stated the physical progress and development of the site can go ahead once we have the
lease agreement, prior to DNR approval. Mr. Hintz inquired if there was any assurance from the
DNR that they will move at an expeditious pace.
Mr. Davis stated the DNR has moved at a fast pace so far. Buckstaff is a site the DNR wants to see
redeveloped. The DNR has worked very closely with the City to get the NOI and wetland permits
and has met multiple times regarding the plans for the remediation.
The item was called. Motion carried 5-0.
Res.17-04 Approve Option to Purchase Vacant Lot; 6th Avenue and Nebraska Street; 50 West
6th Street, LLC
Motion by Belter to move Res.17-04
Seconded by Lasky
Mr. Belter inquired when the property was acquired.
Ms. Brandt stated the RDA acquired in 2009.
Mr. Davis stated the option to purchase of this property would serve as parking to the former
Granary.
Mr. Belter stated the property is needed for parking in order to redevelop the Granary.
The item was called. Motion carried 5-0.
Discussion Item: Make Recommendation to Council for Jackson and Oregon Street Bridge
Project
Mr. Rabe stated the WisDOT has asked Council to recommend an alternative for the Jackson and
Oregon Street Bridge and the City Council has asked for any recommendations from other
committees and commissions by February 28, 2017. Mr. Rabe presented the alternatives for the
Oregon/Jackson Street Bridge and discussed with the RDA each of the options.
Mr. Lasky stated there is a potential opportunity with the high fixed bridge, to put extra dollars
into the aesthetics of the bridge because of the reduced operational costs.
Mr. Pearson stated aesthetics of the bridge is important.
Mr. Hintz stated he preferred the high level fixed bridge because there would always be a bridge
available for fire or ambulance and the cost is lower.
RDA Minutes February 14, 2017 Page 3
The committee unanimously chose C1 High Level Fixed Bridge for the Jackson and Oregon Street
Bridge.
Discussion Item: Lease Agreement with H&M Commercial, LLC; 43 E. 7th Avenue
Mr. Davis stated the RDA is scheduled to take possession of 43 E. 7th Avenue in August.The
existing occupant is looking to continue with the lease or will find other space if the RDA is not
willing to lease the property. They are willing to pay the lease rate and maintain the property.
Mr. Belter inquired who is currently renting out the building.
Mr. Davis stated Chamco is leasing the building to H&M Commercial.
The RDA decided they would take action at a future meeting to lease the property.
Executive Director’s Report
Mr. Davis provided an update on the Buckstaff property.
Mr. Hintz inquired if the foundation cleanup has run smoothly.
Mr. Davis stated it has gone better than expected.
Mr. Davis stated there are a few punch list items remaining on the Bowen Street house and Ms.
Brandt is planning the neighborhood open house. The $686,000 grant from the DNR will install the
trail and riverwalk improvements on top of the sheet pile and continue west to the lagoon. Mr. Art
Dumke continues to work on development options for the Pioneer area.
There was no further discussion.The meeting adjourned at approximately 5:10 PM.
(Pearson/Belter)
Respectfully submitted,
Allen Davis
Executive Director
REDEVELOPMENT AUTHORITY OF THE CITY OF OSHKOSH, WISCONSIN
FEBRUARY 23, 2017 17-05 RESOLUTION
(APPROVED_______LOST_______LAID OVER_______WITHDRAWN_______)
PURPOSE:APPROVE DEVELOPER AGREEMENT WITH FOX VALLEY PRO
BASKETBALL, INC.; APPROVE LAND DISPOSITION –
PROPOSED MULTI-PURPOSE ARENA AT 1212 SOUTH MAIN
STREET
WHEREAS,Fox Valley Pro Basketball, Inc.submitted a proposal for construction
of a multi-purpose arena at 1212 South Main; and
WHEREAS, the City of Oshkosh (City) and Redevelopment Authority (RDA) willremain the owner of the property during environmental remediation activities and
construction of the planned multi-family development requiring the City and RDA to enter
into lease agreements and assignments for the purpose of facilitating construction and
financing of the project during the period prior to completion of the environmentalremediation and transfer of the property to Fox Valley Pro Basketball, Inc.; and
WHEREAS, the leases and assignments are consistent with the terms of the
Developer Agreement; and
NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Authority of the
City of Oshkosh that the proper officials are hereby authorized and directed to enter into
a Developer Agreement with Fox Valley Pro Basketball, Inc.for construction of a planned
multi-purpose arena at 1212 South Main Street, in substantially the same terms as
attached hereto,any changes in the execution copy being deemed approved by theirrespective signatures, and to carry out all actions necessary to implement the
Redevelopment Authority’s obligations under the Developer Agreement.
BE IT FURTHER RESOLVED by the Redevelopment Authority of the City of
Oshkosh that the proper officials are hereby authorized and directed to execute any andall documents necessary to consummate the disposition of property, Lot 1 and 2 of CSM
7081, at 1212 South Main Street to Fox Valley Pro Basketball, Inc.or affiliated entities
upon construction of the planned multi-purpose arena, completion of environmental
remediation and receipt by the City of a Certificate of Completion from the Wisconsin
Department of Natural Resources.
TO:City of Oshkosh Redevelopment Authority
FROM:Allen Davis, Community Development Director
DATE:February 22, 2017
SUBJECT:February 23, 2017 RDA Agenda items
ACTION ITEMS
17-05 Approve Developer Agreement with Fox Valley Pro Basketball,Inc.; Approve
Land Disposition –Proposed Multi-Purpose Arena at 1212 South Main Street
Background
The recent announcement regarding the proposed arena and Milwaukee Bucks D-League
team has accelerated the redevelopment of the Buckstaff property. As part of the
redevelopment, the developer and the City are to enter into a Development Agreement
which will identify the various rights and responsibilities of both parties. The Developer
Agreement will also be placed on the next City council Agenda for action.
Analysis
Staff is bringing the draft Development Agreement and Land Sale to the RDA for action
now that the TIF Plan #31 has crystallized and many of the answers needed for the site
have been determined by the engineers, designers, and financial analysts.In addition,
the City has obtained SBA’s removal of liens as part of a repayment agreement. The TIF
#31 Plan provides the details on the TIF financing and repayment for all the project
elements.The elements of the Development Agreement include:
1.Pay-go TIF –no city funds will be spent for the public improvements or site
preparation needed for the site. The Developer will be reimbursed for these costs
based on the TIF’s performance.
2.The Pay-go tax increment is calculated as 100% of the tax increment remaining,
after the SBA payment and city administrative costs are deducted.
3.The developer is guaranteeing an $18,000,000 value for the first 7 years. The value
could decline after that date.
4.The developer requested an interest rate adjustment in year 7 based on actual city
borrowing costs plus two percent.
5.Environmental remediation will be completed with site redevelopment.
6.Repayment of project costs will be based on actual costs of construction.
7.There are no general obligation or other public obligations for repayment.
8.The City has applied to WEDC to potentially reduce the public costs by up to
$250,000.
The rest of the Development Agreement terms are consistent with other previous
Development Agreements.
The Land Disposition will occur after the arena and other site improvements have been
constructed, and the Wisconsin Department of Natural Resources has issued a Certificate
of Completion.
Recommendation
The RDA approves the Development Agreement with Fox Valley Pro Basketball, Inc.and
Land Disposition.
16715866.5
TAX INCREMENTAL DISTRICT NO.31
DEVELOPMENT AGREEMENT
(FOX VALLEY PRO BASKETBALL, INC. PROJECT)
This Development Agreement (the “Agreement”) is made this _______day of February,
2017 (the “Effective Date”), by and among the CITY OF OSHKOSH, WISCONSIN, a Wisconsin
municipal corporation, the REDEVELOPMENT AUTHORITY OF THE CITY OF OSHKOSH,
WISCONSIN (the “RDA,” and, collectively with the City of Oshkosh, Wisconsin, the “City”),
and FOX VALLEY PRO BASKETBALL, INC, a Wisconsin corporation (the "Developer").
RECITALS
WHEREAS, the City has established Tax Incremental District No.31 (the “District”) as a
blighted area district in which at least fifty percent (50%) of the property within the District is a
blighted area, as that term is defined by Wis. Stat. Sec. 66.1105(2)(ae), and in which certain costs
incurred for redevelopment of the District may be reimbursed from the property tax increment as
provided by State law; and
WHEREAS, the Developer is leasing from the City that certain property located within the
District and more particularly described in Exhibit A attached hereto (the “Property”) pending the
completion of certain environmental remediation work as set forth herein. Following the
completion of such work, Developer will acquire fee title to the Property; and
WHEREAS, the Developer has approached the City indicating a desire to invest not less
than $20,320,000 to develop and construct on the Property a 3,500 seat sports arena consisting of
approximately 80,000 square feet, a parking lot and other infrastructure and site improvements, all
in accordance with applicable City ordinances and City-approved plans (the “Project”); and
WHEREAS, to promote such development, the City created the District to assist in the
financing of the costs of certain improvements, development incentives, and other costs associated
with the ownership and development of properties located in the District; and
WHEREAS, the Developer will not undertake the development of the Project but for its
reliance upon the Developer receiving tax increment financing to assist in the funding of a portion
of Developer's acquisition, development and operation costs for the Property, all as described
below; and
WHEREAS, the City is authorized to enter into contracts necessary and convenient to
implement the purpose of a Tax Incremental District, including the ability to provide development
incentives and cash grants to owners, lessees, or developers of land located within the District; and
WHEREAS, the uses of the Property contemplated by this Agreement are necessary and
desirable to serve the interests of the City and its residents by expanding the tax base of the City,
providing additional development and employment opportunities, and providing a financing
mechanism to expand and acquire necessary infrastructure, all consistent with the purpose of a Tax
Incremental District under Section 66.1105, Wisconsin Statutes; and
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WHEREAS, based upon the City's desire to redevelop the District and to obtain the
economic benefits to be generated from the Project, the City is willing to enter into this Agreement.
NOW THEREFORE, in consideration of the recitals, the terms and conditions contained
in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the parties hereto agree as follows:
AGREEMENT
I.DEFINITIONS.For purposes of this Agreement, the following terms shall have
the following meanings:
Acquisition Costs.“Acquisition Costs” means real property assembly costs
incurred by the City in the amount of $140,000, together with interest at the rate of four percent
(4%) per annum, to be paid to the United States Small Business Administration from Tax
Increments in fourteen (14) equal installments of principal and interest of approximately $13,250
each, beginning on November 1, 2019 and continuing each November 1 thereafter until paid in
full.
Administrative Costs. “Administrative Costs” means all of the following
costs and expenses of the City relating to the District and attributable to the Property: (i)
professional services including, but not limited to, planning, engineering, design, accounting,
financial planning, and attorneys’ fees and costs; and (ii) reasonable charges for time spent by City
employees in connection with the implementation of the Project Plan and administration of the
District. Notwithstanding anything to the contrary set forth herein, the City and the Developer
agree that the aggregate Administrative Costs during the first year of this Agreement shall not
exceed $[35,000],and the aggregate Administrative Costs during each subsequent year of this
Agreement shall not exceed $10,000.
Agreement. "Agreement" means this document and all of its component
parts and exhibits.
Affiliate. "Affiliate" means any entity majority owned and controlled by,
in control of, or under common control with Developer or any entity of which Developer is a
subsidiary or which is a shareholder of Developer. An Affiliate includes, but is not limited to, an
entity with which Developer merges or into which Developer consolidates, or which acquires all
or substantially all of the common stock or assets of the Developer.
Available Tax Increment. "Available Tax Increment"means an amount
equal to one hundred percent (100%) of the annual gross Tax Increment revenues actually received
and retained by the City which are generated by the Property and improvements and personal
property thereon in the immediately preceding calendar year, less Administrative Costs and
Acquisition Costs.
City Grant. The City Grant is a financial grant to be made available to
Developer pursuant to this Agreement. Pursuant to Section IV.C., below, payable over the life of
the District from Available Tax Increment in accordance with the terms of this Agreement.
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City MRO. “City MRO” means the Municipal Revenue Obligation issued
by the City to the Developer as evidence of the City's limited obligation to pay the City Grant as
described in this Section IV.C. below, and in substantially the form of Exhibit D attached hereto
and incorporated herein. The City MRO shall be issued pursuant to Section 66.0621 of the
Wisconsin Statutes, shall not constitute an indebtedness of the City, and shall be payable,subject
to contingencies, solely from the limited sources and to the extent provided in this Agreement and
the City MRO.
District. The "District" means all of that property, including the Property,
included in Tax Incremental Finance District No.31 as described in the Project Plan.
Environmental Reports. “Environmental Reports” means (i) Stormwater
Management and Erosion/Sediment Control Plan for Buckstaff Foundation Removal prepared by
John Ferris, Oshkosh Public Works Department dated November 30, 2016; (ii) Wetland
Determination and Delineation Report –former Buckstaff Furniture Company Property, prepared
by Brian Bates, dated December 12, 2016; (iii) Phase I Environmental Site Assessment, City of
Oshkosh, 1212 South Main Street, prepared by AECOM, dated January 12, 2017, and (iv) any
Phase II Environmental Site Assessment(s) required based upon the findings in any of (i)–(iii),
above.
Existing Environmental Conditions. “Existing Environmental Conditions”
means any Hazardous Substances, known or unknown, present in concentrations greater than
applicable standards on, in, at, or under the Property or migrating in concentrations greater than
applicable standards to or from the Property at any time on or before the Effective Date.
Ground Lease. “Ground Lease” means that certain Ground Lease [dated
as of _______________, 2017]by and among the City, the RDA and Developer pursuant to which
Developer will lease the Property from the City and the RDA until the conditions set forth in
Article V, below, are met.
Hazardous Substances. “Hazardous Substances” means toxic, hazardous,
and/or regulated substances, pollutants, or contaminants, whether present in the soil or
groundwater at, under, or migrating from or to the Property.
Payment Dates. "Payment Dates"means [November 1] of each year,
commencing on the third [November 1] after the Effective Date of this Agreement, up to and
including [November 1, 2045].
Payment Term. "Payment Term" means the term commencing on the first
day of the third [November 1] after the Effective Date of this Agreement and continuing on the
same day of each year thereafter until the first to occur of the following: (i)payment to Developer
of the entire amount of the City Grant, or (ii) [November 1, 2045]. Each year of the Payment Term
shall run from [November 2] through the following [November 1]. For example, for illustrative
purposes only, if the Effective Date is March 1, 2017, the Payment Term would run from
[November 2], 2019, through the first to occur of the following: (1)payment to Developer of the
entire amount of the City Grant; or (ii)[November 1, 2045].
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Project. "Project" means the Developer's acquisition, development and use
of the Property as a 3,500 seat sports arena consisting of an approximately 80,000 square foot
building, a parking lot, and related infrastructure and site improvements, all of which shall comply
with applicable City's ordinances and City-approved plans for the Property.
Project Plan. "Project Plan" means the "Project Plan for the Creation of Tax
Incremental Finance District No.31 in the City of Oshkosh" prepared by Ehlers, Inc. dated January
27, 2017, which is described on Exhibit B attached hereto and incorporated herein.
Project Costs. “Project Costs" means the costs relating to the Property
described and estimated as set forth on Exhibit C attached hereto and incorporated herein. The
Project Costs shall include (i) improvements to East 11th Avenue, South Park Avenue, South Main
Street, and East 12th Avenue, (ii) remediation expenses relating to the Property, (iii) costs for geo
pier and grid installation on the Property, (iv) costs for storm water management facilities located
on or serving the Property, (v) interest expenses payable to Developer pursuant to the City MRO,
(vi) Acquisitions Costs, and (vii) Administrative Costs. The City and Developer agree that the
Project Costs listed in Exhibit C are estimates only, and that upon completion of the work described
on Exhibit C, the parties shall prepare and attach to this Agreement a revised Exhibit C setting
forth actual Project Costs. Notwithstanding the foregoing, the cumulative total of Project Costs
making up the “Developer Incentive Principal” as set forth on Exhibit C shall in no event exceed
$5,138,700.
Property. "Property" means the real property described in Exhibit A
attached hereto and incorporated herein, together with all improvements and personal property
thereon.
Property Tax Increment Base. "Property Tax Increment Base" means the
aggregate value, as equalized by the Wisconsin Department of Revenue, of the Property as of
January 1, 2017.
Tax Increment. "Tax Increment" has the same meaning as defined in
Section 66.1105(2)(i) of the Wisconsin Statutes.
Tax Increment Law. "Tax Increment Law" means Section 66.1105 of the
Wisconsin Statutes.
II.PROPERTY ACQUISITION AND GROUND LEASE. The effectiveness of
this Agreement is contingent upon the RDA, on or before the Effective Date, acquiring the
Property and executing the Ground Lease with Developer. In the event that the RDA is
unable to timely satisfy this contingency on or before July 1, 2018, Developer shall provide
written notice thereof to the City, in which case, this Agreement shall be null and void and
the parties shall have no further rights or obligations hereunder. If Developer fails to
provide a timely termination notice to the City, then this contingency shall be deemed to
be waived.
The Ground Lease will contain terms reasonably satisfactory to the RDA (as ground
lessor) and Developer (as ground lessee), but in all event shall contain the following terms and
conditions:
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1.A term of fifty (50) years, but terminable upon the conveyance of
the Property by the RDA to the Developer pursuant to Article V, below.
2.Base rent of $1 per year.
3.Developer will be responsible for all general property taxes on the
Property (or, if such land is exempt from general property taxes, additional rent in an amount equal
to what such taxes would be if the Property were not exempt).
4.RDA will retain a right of access to the Property to the extent
necessary to perform the City’s obligations with respect to the remediation of the Property pursuant
to Article V, below.
III.DEVELOPER'S OBLIGATIONS.
Development of the Project. Developer intends to invest not less than
$20,320,000 to develop, construct, and use the Project.
Project Construction. Developer shall commence construction of the
Project within 30 days following the Effective Date of this Agreement. Once commenced,
Developer shall diligently pursue completion of construction of the Project in accordance with
applicable City ordinances and City-approved plans for the Property so that in any case
construction shall be completed by December 31, 2017.
Costs and Expenses.The Developer shall be responsible for all costs related
to the Project and any other work to be performed by the Developer under this Agreement,
including all engineering, inspections, materials and labor. Furthermore, Developer shall be
responsible for payment of all City fees including impact fees, building permit fees, zoning and
sign permit fees, electrical and plumbing fees.
IV.CITY'S OBLIGATIONS.
City Construction Work. The City will remove existing foundations located
on the Property, and will backfill any resulting holes to grade. The City will complete this work
on or before July 1, 2017.
WEDC Grant. The City has submitted a Community Development
Investment Grant application to the Wisconsin Economic Development Corporation (“WEDC”)
to offset up to $250,000 of the Project Costs set forth as Exhibit C.Should the City receive a grant
from WEDC, the funds received will be contributed to the Project. The amount of any such grant
shall reduce the amount of the City Grant.
City Grant. In each year beginning in 2019 and ending in 2045 (or, if earlier,
when the total amount of the “Developer Incentive Principal” as set forth on Exhibit C plus interest
has been reimbursed to Developer under this Agreement), in consideration of the Developer
undertaking its obligations under this Agreement, the amount of the Available Tax Increment shall,
subject to annual appropriations by the City Common Council, be applied to make payments under
this Agreement to pay the Developer the City Grant. The City Grant constitutes eligible Projects
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Costs within the meaning of Section 66.1105(2) of the Wisconsin Statutes. The first payment shall
not be made until the first day of the second [November]after the date of this Agreement provided
that there is Available Tax Increment. Such payments shall be made in accordance with the terms
of this Agreement, as further described in this Section IV.C. and the City MRO. The amount of
the City Grant shall be equal to the final amount of Project Costs, less Acquisition Costs,
Administrative Costs, and any WEDC grant funds received pursuant to Section IV.B., above. The
City Grant shall be paid by the City only out of the Available Tax Increment, subject to the
provisions of this Agreement and the City MRO. The City covenants and agrees as follows: (a)the
Mayor or his designated representative shall include the payment of the entire Available Tax
Increment for each year included during the Payment Term in the applicable budget request
recommendation for the following year's budget, (b)if the City's annual budget does not in any
year provide for appropriation of Available Tax Increment sufficient to make the payment due to
Developer in that year, the City will use its diligent, good faith efforts to notify the Developer of
that fact at least thirty (30)days prior to the date the budget is presented to the City Common
Council for final approval, and (c)funds in the special fund of the Property attributable to the
Available Tax Increment generated from the Property (and all improvements and personal property
thereon) shall not be used to pay any other project costs of the District until the City has applied
to the payment due hereunder, in any year, the Available Tax Increments generated by the Property
(and all improvements and personal property thereon) that this Agreement provides will be applied
to payment due hereunder.
Developer acknowledges that, subject to the provisions of this Agreement:
(i)all payments of Available Tax Increment are subject to the future annual appropriation of said
amounts by the City Common Council to payment due hereunder, (ii)only the Available Tax
Increments generated by the Property (and all improvements and personal property thereon) shall
be used to make payments to the Developer; and (iii)if, on [November 1],2045, the amount of the
Available Tax Increments to be paid under this Agreement proved insufficient to pay the entire
City Grant, the City shall have no obligation or liability therefor.
The payment of the City Grant shall be subject to the following conditions
and limitations:
1.On each Payment Date during the Payment Term and subject to the
provisions of this Agreement, the City shall pay a portion of the City Grant equal to the amount of
Available Tax Increment appropriated by the City Common Council for the payment due that
Payment Term year.
2.The City shall take no action to terminate or dissolve the District
early prior to [November 1],2045, unless the City first pays the outstanding balance due under the
City Grant, subject to the provisions of this Agreement, including, but not limited to, the annual
appropriation of the City Common Council of such outstanding balance due.
Attached hereto as Exhibit E is the City’s projection of revenues and
expenditures for the District over its term.Exhibit E is provided for illustrative purposes only, and
Developer acknowledges that the amounts set forth thereon are estimates only.
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City Grant not to be Considered Indebtedness. In no circumstances shall
amount of the City Grant due Developer hereunder be considered an indebtedness of the City, and
the obligation of the City hereunder is limited to the Available Tax Increment which is
appropriated by the City Common Council for payment of such amounts and only to the extent as
provided in this Agreement. Amounts due hereunder shall not count against the City's
constitutional debt limitation, and no taxes will be levied for its payment or pledged to its payment
other than Tax Increment which has been appropriated for that purpose.
V.ENVIRONMENTAL MATTERS.
Lease Letter. The City will use its best efforts to obtain a lease liability
clarification letter from the Remediation and Redevelopment Program of the WisconsinDepartment of Natural Resources (“WDNR”) indicating that Developer, as Lessee, is presumed to
not be responsible for the Existing Environmental Conditions, as provided for in Wis. Stat. Sec.
292.55.
City will obtain a Voluntary Party Liability Exemption (“VPLE”)
Certificate of Completion from the WDNR for the Property. The parties contemplate that the
VPLE Certificate of Completion will be issued by WDNR following completion of certain
additional investigation and limited environmental response actions by the City and/or the
Developer, as a part of Developer’s construction of the Project. The Parties understand that the
final case closure and VPLE Certificate of Completion may include the use of institutional
controls, provided that such institutional controls do not materially limit the use of the Project or
the Property by Developer. Such institutional controls may include, for example but without
limitation, groundwater use restrictions and cap construction and maintenance requirements.
Furthermore, the parties understand that any routine cap maintenance, repair or replacement
obligations arising from such conditions shall be the responsibility of the Developer and shall beperformed at Developer’s sole cost and expense, provided, however, that active mitigation
measures such as continuous groundwater extraction or monitoring, or hazardous gas/vapor
mitigation, beyond a passive or ordinary venting system shall be the continuing responsibility of
City until such time as such measures are no longer required by WDNR. Notwithstanding the
foregoing, Developer and City will cooperate to develop plans acceptable to the WDNR that would
avoid continuous groundwater extraction or monitoring, or hazardous gas/vapor mitigation to the
extent possible and approved by the WDNR. To the extent that the WDNR requires hazardous
gas/vapor mitigation, the Developer and City agree to cooperate to develop a passive hazardous
gas/vapor mitigation system acceptable to the WDNR.
From and after the effective date of the Ground Lease, the Developer will
pay the entire cost of the work necessary to obtain any required exemption to construct on a historic
fill site and to obtain the VPLE Certificate of Completion, including the cost to investigate and
restore the environment at the Property and the cost to design and install any passive gas/vapor
venting system to the extent such system is required by WDNR.
Promptly following WDNR’s issuance of the VPLE Certificate of
Completion, the parties will terminate the Ground Lease, and the RDA will convey the Property
to Developer for a purchase price of $1.00 by general warranty deed, subject to no liens or
encumbrances other than utility easements of record, zoning restrictions, deed restrictions imposed
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by the WDNR for final Case Closure, and other matters reasonably acceptable to Developer,
provided none of such liens or encumbrances will prohibit or interfere in any material respect with
the development or operation of the Project. The RDA shall pay all costs of an owners’ title
insurance policy in the amount of the value of the Property (land value only), insuring that fee
simple title to the property is vested in Developer, subject to no liens or encumbrances other than
utility easements of record, zoning restrictions, deed restrictions imposed by the WDNR in
connection with the VPLE Certificate of Completion, and other matters reasonably acceptable to
Developer and its lender(s), provided none of such liens or encumbrances will prohibit or interfere
in any material respect with the development or operation of the Project. Concurrently therewith,
the City and Developer will enter into a limited easement agreement granting to City a limited
right of access the Property to the extent necessary to allow the City to fulfil its continuing
obligations (if any) under the VLPE Certificate of Completion, which easement agreement shall
be reasonably satisfactory in form and substance to the City and the Developer.
Except as provided elsewhere in this Agreement, City shall be responsible
for, and shall indemnify, defend, and hold harmless Developer, its successors and assigns, and its
officers, directors, managers, members, employees, contractors, and agents (the “Developer
Parties”) from and against, any and all actions, claims, causes of action, costs, damages, demands
by governmental entities, expenses, liabilities, losses, obligations, penalties, or suits including,
without limitation, all reasonable attorney, consultant, and engineer costs or fees related thereto,(collectively, “Environmental Claims”) in any way arising out of, connected with, or resulting
from (i) a release caused by or exacerbated by City or its contractors or agents, or (ii)any Existing
Environmental Conditions, including the continued migration of any such Existing Environmental
Conditions in concentrations greater than applicable standards without regard to whether such
migration occurs on or before the Effective Date; provided, however, that City’s obligations under
this Section 5.E. shall not include any claim (i) by Developer or a successive owner of the Property
for diminution of value or stigma, (ii) that the Developer violated or failed to abide by any
obligation set forth in this Agreement or in the VPLE Certificate of Completion or (iii) arising out
of the negligence or willful misconduct of Developer or agent thereof in dealing with any
Hazardous Substances.
Notwithstanding anything to the contrary in Section 5.E.,above, the
obligation of the City to indemnify any Developer Party shall not include any Environmental
Claim related to or arising from the presence at the Property of a Hazardous Substance that is:
1.confined to locations and at concentrations that are permissible to
remain in place without further action under applicable environmental laws or approved by WDNR
to remain in place in the VPLE Certificate of Completion;
2.present as the result of any failure by Developer to abide by the
terms of the VPLE Certificate of Completion that are obligations of the Developer under the terms
of this Agreement;
3.present at the Property as a result of the introduction by Developer
of any Hazardous Substance to the environment at the Property, whether directly or by migration
from any off site location; or
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4.subject to or the subject of any exemption from or release of liability
provided by the VPLE Certificate of Completion that is applicable to the Property.
Developer shall be responsible for, and shall indemnify, defend, and hold
harmless the City, and its successors and assigns, and its officers, directors, employees,contractors, and agents (the “City Parties”) from and against, any and all claims in any way arising
out of, connected with, or resulting from any Hazardous Substances, known or unknown, present
on, in, at, or under the Property or migrating to or from the Property at any time after Effective
Date, to the extent any such release of a Hazardous Substance is caused or materially exacerbated
by the Developer; provided, however, that Developer’s obligations under this Section 5.F shall not
include any claim (i) for diminution of value or stigma, or (ii) arising out of the negligence or
willful misconduct of the City or agent thereof in dealing with any such Hazardous Substances.
VI.APPROVALS AND DEVELOPMENT STANDARDS.
Approval of Public Bodies. The Developer shall obtain from the City and
all other appropriate governmental bodies (and all other councils, boards, and parties having a right
to control, permit, approve, or consent to the development and use of the Property) all approvals
and consents necessary for the City to approve the development of the Property, and any other
approvals necessary to utilize the Property for the Project.
Acceptance of Agreement. The acceptance of this Agreement and granting
of any and all approvals, licenses, and permits by the City shall not obligate the City to grant any
additional approvals, including, but not limited to, variances, exceptions, or conditional use
permits, or approve any building or use the City determines not to be in compliance with the
applicable municipal codes and ordinances of the City. The City agrees to work in good faith,
promptly, and diligently in connection with the issuance or grant of all such approvals, consents,
permits, certificates, and any other documents as may be necessary or desirable in connection with
the development, utilization, and operation of the Property and to act reasonably and expeditiously
and in cooperation with the Developer in connection therewith; it being understood and agreed
that this provision is not intended to limit the rights of the City as more particularly set forth above
or in Article X, below.
Development Requirements. The Developer shall use the Property for the
Project and in accordance with the provisions of this Agreement, and all other applicable federal,
state, county, and City laws and regulations.
Tax Exemption Forebearance. Developer acknowledges that the City is
relying upon the Developer's real property taxes to generate the Available Tax Increment to fund
the City Grant. As a result, throughout the term of the District, the Developer agrees neither the
Developer nor any existing or future Affiliate or related entity of the Developer (collectively,
"Developer Affiliates") will pursue, assist, support, or be involved in any federal, state, or local,
judicial, legislative, or regulatory action or process that seeks, directly or indirectly, to prohibit,
set aside, or limit the taxability of all or any portion of the Property on any basis whatsoever, and
the Developer for itself and on behalf of the Developer Affiliates, and each of their respective
successors in interest, waives any and all rights thereto. In addition,during the period of time that
commences upon the date of this Agreement and terminates at the end of the District, neither the
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Property, the Project nor any part thereof or interest therein shall be sold, transferred, leased,
assigned, gifted, owned, used, or conveyed in any way to any person, partnership, organization, or
entity that is all or partially exempt from federal or State of Wisconsin income taxes or real or
personal property taxes, without the express prior written consent of the City, which such consentmay be withheld in the City’s sole and absolute discretion (collectively, the “RestrictiveCovenant”). This Restrictive Covenant shall permit the City to have enforcement rights.
Notwithstanding anything to the contrary contained herein, the Restrictive Covenant shall
automatically terminate upon the conclusion of the District.
VII.WARRANTIES AND REPRESENTATIONS.
The Developer hereby warrants, represents, and covenants to the City:
1.The Developer is a duly organized and existing corporation in the
State of Wisconsin and authorized to transact business in the State of Wisconsin.
2.The execution, delivery, and performance of this Agreement and the
consummation of the transactions contemplated hereby have been duly authorized and approved
by the Developer, and no other or further acts or proceedings of the Developer or its shareholders,
directors, or officers are necessary to authorize and approve the execution, delivery, and
performance of this Agreement, and the matters contemplated hereby. This Agreement, the
exhibits, documents, and instruments associated herewith and made a part hereof, have, if
applicable, been duly executed and delivered by the Developer and constitute the legal, valid, and
binding agreement and obligation of the Developer, enforceable against the Developer in
accordance with their respective terms, except as the enforceability thereof may be limited by
applicable bankruptcy, insolvency, reorganization, or other similar laws affecting the enforcement
of creditors' rights generally,and by general equitable principles.
3.There are no lawsuits filed or, to the knowledge of the Developer,
pending or threatened against the Developer that may in any material way jeopardize the ability of
the Developer to perform its obligations hereunder.
4.The Developer has sufficient funds through equity and debt
financing sources to continuously operate, maintain, and fulfill the Project.
5.The Developer shall provide, prior to execution of this Agreement,
a (i)a certificate of good standing/current status issued by the appropriate government agency of
the state of the Developer's organization, and (ii)certificate of incumbency and resolutions of the
corporation which provide for who is authorized to sign on behalf of the Developer and that the
Developer is duly authorized to enter into this Agreement and undertake all of the obligations
under this Agreement together with all other agreements, documents, and contracts required to be
executed in connection with the transactions arising out of this Agreement.
The City hereby warrants and represents to the Developer that:
1.Subject to the approval of City Common Council, the execution,
delivery, and performance of this Agreement and the consummation of the transactions
contemplated hereby have been duly authorized and approved by the City, and no other or further
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acts or proceedings of the City or its officials are necessary to authorize and approve the execution,
delivery, and, subject to annual appropriation by the City Common Council, performance of this
Agreement, and the matters contemplated hereby. This Agreement, the exhibits, documents, and
instruments associated herewith and made a part hereof, have, if applicable, been duly executed
and delivered by the City and constitute the legal, valid, and binding agreement and obligation of
the City, enforceable against the City in accordance with their respective terms, except as the
enforceability thereof may be limited by applicable law and as is otherwise subject to annual
appropriation by the City Common Council.
2.No special assessments or other charges of any kind shall be
assessed or levied against or accrue or come due from the Developer or the Property with respect
to the Property Project Costs.
VIII.CONDITIONS TO/LIMITATIONS ON THE OBLIGATIONS.
Notwithstanding anything to the contrary set forth in this Agreement, the following
are conditions to and limitations on each and all of the obligations of the City and the Developer
under this Agreement, and the City and the Developer shall not be obligated to expend any amounts
under this Agreement and may suspend or terminate this Agreement or the performance of any
and all of its obligations under this Agreement, without recourse against the City or the Developer,
if:
The Wisconsin Department of Revenue fails to certify all or any portion of
the creation of the District or the Project Plan ("Non-Certification"); provided, however, the City
shall first make all reasonable efforts in good faith to cure such Non-Certification; or
The District is involuntarily terminated or dissolved ("Involuntary
Termination"); provided, however, the City shall first make all reasonable efforts in good faith to
cure such Involuntary Termination.
IX.MINIMUM ASSESSMENT GUARANTY. The Developer hereby agrees that
commencing in 2018 (whether or not the Property has been conveyed to Developer pursuant to
Article V, above) and for a period of seven (7) years thereafter, the assessed value of the Project
shall be greater than or equal to $18,000,000.00. If, for 2018 or any subsequent year in which this
minimum assessment guaranty is in effect, the assessed value of the Property is less than$18,000,000, Developer will make a payment to the City (a “Guaranty Payment”), calculated by
subtracting the assessed value of the Property from $18,000,000. That number shall be multiplied
by the mill rate for all taxing jurisdictions established for the then-current year for the District,
with the resulting Guaranty Payment being due and payable by Developer to the City on or before
November 1 of the following year.
X.DEVELOPER: EVENT OF DEFAULT.
Event of Default. An "Event of Default" is any of the following:
1.Failure to Construct the Project. Subject to the terms of this
Agreement, the Developer fails to construct the Project consistent with Article IV, above; or
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2.Taxes. The Developer fails to pay any real or personal property tax
or any special assessment levied or imposed by the State, County, or City against all or any portion
of the Property then owned by the Developer before they are delinquent, and in any event within
ninety (90)days after written notice from the City of such failure; provided that the Developer
shall have the right to contest the same in accordance with applicable law; or
3.Tax Exemption. All or any portion of the Property becomes tax
exempt; or
4.Breach of Agreement. The Developer breaches any provision of this
Agreement or its obligations under this Agreement; provided, however, that written notice of the
breach has been given to the Developer and the Developer has failed to cure such breach within
sixty (60)days or such longer period as is reasonably required under the circumstances and the
Developer has begun to cure such breach in good faith and is diligently continuing to cure such
breach.
City Options upon Event of Default. Whenever an Event of Default occurs
under Section X.A, the City may take one or more of the following actions, in the City's sole and
absolute discretion:
1.Suspend or terminate the performance of any and all of its
undertakings and obligations under this Agreement, including, but not limited to, making any
further payments under this Agreement during the pendency of the Event of Default.
2.Take any action, including legal or administrative action, at law or
in equity, which may appear necessary or desirable to the City to enforce performance and
observance of any obligation, agreement, or covenant of the Developer under this Agreement or
to seek remedy for its breach. Such rights and remedies shall not be exclusive of any other remedy
or remedies, and such rights and remedies shall be cumulative and shall be in addition to every
other right and remedy given under this Agreement or now or hereafter existing at law or in equity
or by statute. Notwithstanding the foregoing, if an Event of Default under Section X.A.1 occurs,
the City's exclusive remedies shall be as set forth in Section X.B.1 above: provided, further, that,
if Developer fails to construct the Project by no later than December 31, 2017, City shall have the
further remedy to recover from Developer any Property Project Costs previously paid by City.
Delay in Exercise of Rights Not Waiver. No delay or omission to exercise
any right or power accruing to the City or the Developer upon any default by the other party shall
impair any such right or power or shall be construed to be a waiver thereof, but any such right and
power may be exercised from time to time and as often as may be deemed expedient as long as the
default is continuing.
Written Waiver Required. In the event this Agreement is breached by either
party and such breach is expressly waived in writing by the other party, such waiver shall be limited
to the particular breach so waived and shall not be deemed to waive any other concurrent, previous,
or subsequent breach hereunder. A party's acquiescence in not enforcing any portion of this
Agreement shall not provide a basis for the application of estoppel or other like defense or
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otherwise constitute waiver. Any waiver of any provision of this Agreement by the City must be
express and in writing.
Compensation for Costs of Breach. Whenever there is an Event of Default
by the Developer hereunder, and the City employs attorneys or incurs other expenses for the
collection of payment due or to become due for the enforcement or performance or observance of
any obligation or agreement on the part of the Developer contained in this Agreement, the
Developer shall, on demand thereof, pay to the City the reasonable fees of such attorneys and such
other reasonable expenses incurred by the City.
XI.MISCELLANEOUS PROVISIONS.
Incorporation of Attachments. All exhibits and other documents attached
hereto or referred to herein are hereby incorporated in and shall become a part of this Agreement.
Term. Unless terminated under Article X, above, the term of this
Agreement shall begin as of the Effective Date and shall continue until [November 1], 2045,
unless terminated earlier in accordance with the termination by the City of the District in
accordance with the Tax Increment Law.
Review and Inspections. The City will act diligently to review all necessary
approvals, licenses, and permits and to undertake any inspections duly requested by the Developer.
Restriction on Assignment of Agreement.
1.Agreement. The Developer may assign or transfer all of its rights
under this Agreement to an Affiliate without the express prior written consent of the City only if
the proposed Affiliate assignee or transferee agrees in writing to assume all of the Developer's
obligations under this Agreement and the Developer provides the City with timely written notice
and a copy of such fully executed assumption. Otherwise, upon an assignment or transfer of all of
the Developer's rights under this Agreement to (i)a non-Affiliate, or (ii)an Affiliate that does not
agree in writing to assume all of the Developer's obligations under this Agreement, this Agreement
shall terminate at the option of the City and be of no further force or effect, except if the Developer
obtains the express written consent of the City, which shall be in the sole and absolute discretion
of the City. All of the rights and obligations under this Agreement must be assigned or transferred
together, if at all, and may not be assigned separately.
2.Transfer of Property. The Developer may sell, assign, or transfer all
or any portion of the Property to an Affiliate without the express prior written consent of the City
only if the proposed Affiliate assignee or transferee agrees in writing to assume all of the
Developer's obligations under this Agreement, and the Developer provides the City with timely
written notice and a copy of such fully executed assumption. Otherwise, upon a sale, assignment,
or transfer of all or any portion of the Property to (i)a non-Affiliate, or (ii)an Affiliate that does
not agree in writing to assume all of the Developer's obligations under this Agreement, this
Agreement shall terminate at the option of the City and be of no further force or effect, except if
the Developer obtains the express written consent of the City, which shall be in the sole and
absolute discretion of the City.
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Tax Exempt Organizations. For and in consideration of this Agreement and
the nature of the District, the Developer acknowledges and agrees that, during the term of the
District, neither the Property nor any part thereof or interest therein shall be sold, transferred,
leased, assigned, gifted, owned, used, or conveyed in any way to any person, partnership,
organization, or entity that is all or partially exempt from federal or State of Wisconsin income
taxes or real or personal property taxes, without the express prior written consent of the City, which
such consent may be withheld in the City's sole and absolute discretion.
Force Majeure. A party shall be excused from its obligations under this
Agreement if and to the extent and during such time as the party is unable to perform its obligations
or is delayed in doing so due to events or conditions outside of the party's reasonable control (each
a "Force Majeure Event") based solely upon acts of God, war, fire, or other casualty, riot, civil
unrest, extreme weather conditions, terrorism, strikes, and labor disputes. Upon the occurrence of
a Force Majeure Event, the party incurring such Force Majeure Event will promptly give notice to
the other party, and thereafter the parties shall meet and confer in good faith in order to identify a
cure of the condition affecting its performance as expeditiously as possible.
District Information. As soon as practicable, but no later than December 15
of each calendar year, the City shall provide to the Developer the information pertaining to the
Available Tax Increment for the calendar year of the request; provided, however, the City is only
required to submit information in its possession and is not required to reply to any request prior to
December 15 of any calendar year.
Time of the Essence. Time is deemed to be of the essence with regard to
all dates and time periods set forth herein and incorporated herein.
Headings. Descriptive headings are for convenience only and shall not
control or affect the meaning or construction of any provision of this Agreement.
Delivery of Notices. Any notice required hereunder shall be given in
writing, signed by the party giving notice, personally delivered, mailed by certified or registered
mail, return receipt requested, sent by overnight delivery service, or faxed to the parties respective
addresses as follows, provided any notice given by facsimile is also given by one of the other
methods:
To the City:City of OshkoshCity Attorney’s Office
215 Church Avenue
Post Office Box 1130
Oshkosh, WI 54903-1130
Attn: City Attorney
Facsimile No. 920-236-5106
With a copy to:Godfrey & Kahn, S.C.
100 W. Lawrence Street
Appleton, WI 54911
Attn: Michael J. Lokensgard
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Facsimile No. 920-830-3530
To Developer:Fox Valley Pro Basketball, Inc.
2370 State Road 44, Suite A
Oshkosh, WI 54904
Attn: _____________________
Facsimile No. 920-__________
With a copy to:
and shall be deemed given upon personal delivery, the first business day after certification or
registration, the first business day after deposit with the overnight delivery service, and upon
acknowledgement of receipt by facsimile or electronic mail (provided notice is promptly sent by
one of the other methods).
Entire Agreement. This Agreement and all other documents and
agreements expressly referred to herein, contain the entire agreement between the Developer and
the City with respect to the matters set forth herein. This Agreement may be modified only in
writing signed by all parties.
Law Applicable. This Agreement shall be construed in accordance with the
internal laws of the State of Wisconsin.
Originals and Counterparts. This Agreement may be executed in any
number of counterparts, each of which shall be deemed to be an original.
Amendments to Agreement. This Agreement shall not be amended orally
but only by the written agreement of the parties signed by the appropriate representatives of each
party and with the actual authority of each party.
Limitation on Liability. The parties acknowledge and agree that in carrying
out any of the provisions of this Agreement or in exercising any power or authority granted to
them thereby, there shall be no personal liability of the either parties' officers, members, agents,
employees, or representatives, it being understood and agreed that in such matters they act as
agents and representatives of the applicable party.
No Partnership. This Agreement specifically does not create any
partnership or joint venture between the parties, or render any party liable for any debts or
obligations of the other party.
Recording of Agreement. The parties hereto agree that at the City's option
a memorandum of this Agreement,including reference to the Restrictive Covenant, may be
recorded on the record title to the Property. The Developer shall upon request of the City execute
and deliver any such memorandum or other document in connection with such recording.
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Developer's Obligations Run with the Land. The Developer's obligations
under this Agreement and all consents, obligations, waivers, restrictions, and other requirements
of the Developer as set forth in this Agreement, shall be deemed to be covenants running with the
land and shall be binding upon the Property and the successors, assigns, and other transferees of
the Developer. The rights and benefits conferred upon the Developer shall not be covenants
running with the land and shall not inure to the successors, assigns, or other transferees of the
Developer, except as set forth in Section XI.D, above.
Severance. If any portion of this Agreement is deemed invalid or
unenforceable by a court of competent jurisdiction, then the remainder of this Agreement shall
remain in full force and effect and enforceable to the fullest extent permitted by law.
Third Parties. This Agreement is made for the exclusive benefit of the
parties hereto, and their permitted assignees (as set forth in Section XI.D.), and is not for the benefit
of any other persons, as third party beneficiaries or otherwise, and this Agreement shall not be
deemed to have conferred any rights, expressed or implied, upon any other party, except as set
forth in Section XI.D.
Neutral Construction. This Agreement is the result of a negotiated
agreement by the parties and prior to the execution of this Agreement each party had sufficient
opportunity to have review of the document by legal counsel. Nothing in this Agreement shall be
construed more strictly for or against either party because that party's attorney drafted this
Agreement or any portion thereof or attachment hereto.
Headings. The headings inserted in this Agreement are for convenience
only and in no way define, limit, or otherwise describe the scope or intent of this Agreement or
any provision of this Agreement
[Signatures Begin On Next Page]
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IN WITNESS WHEREOF, the parties have caused this Agreement to be signed as of the
date stated in the first paragraph of this Agreement.
FOX VALLEY PRO BASKETBALL, INC.
BY:
Its:
STATE OF ______________}
} SS
COUNTY OF ____________}
Personally came before me this ______day of ___________________, 2017, the
above-named __________________, to me known to be the person who executed the foregoing
instrument.
*
Notary Public, State of
My Commission:
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16715866.5
CITY OF OSHKOSH, WISCONSIN
By:
Mark A. Rohloff, City Manager
By:
Pamela R. Ubrig, City Clerk
Approved as to form:
By:
Lynn A. Lorenson, City Attorney
STATE OF WISCONSIN }
} SS
COUNTY OF WINNEBAGO }
Personally came before me this _____day of ________________, 2017, the above named
Mayor and City Clerk, to me known to be the person who executed the foregoing instrument.
*
Notary Public, State of Wisconsin
My Commission:
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16715866.5
REDEVELOPMENT AUTHORITY OF
THE CITY OF OSHKOSH, WISCONSIN
By:
__________________, Chair
By:
__________________, Executive Director
STATE OF WISCONSIN }
} SS
COUNTY OF WINNEBAGO }
Personally came before me this _____day of ________________, 2017, the above named
Chair and Executive Director, to me known to be the person who executed the foregoing
instrument.
*
Notary Public, State of Wisconsin
My Commission:
16715866.5
EXHIBIT A
Description of Property
All of Lots One (1) and Two (2) of Certified Survey Map No. 7081 filed in Volume 1 of Certified
Survey Maps on Page 7081 as Document No. 1712374, all in the Original Third Ward Plat, located
in the Fractional Northwest ¼ of Section 25, Township 18 North, Range 16 East, 3rd Ward, City
of Oshkosh, per Leach's Map of 1894, Winnebago County, Wisconsin.
Parcel No. 903-0324-0100 and 903-0324-0200
16715866.5
EXHIBIT B
Description of Project Plan
The proposed project will take place on an 8.77 acre blighted area which includes the former
location of the Buckstaff Company located along South Main Street between East South Park
Avenue and East 11th Avenue in the City of Oshkosh.
Buckstaff Company operated a wood furniture company on the site since 1850 and closed
permanently in 2011. Currently, the site is being prepared for redevelopment which includes
asbestos removal, building demolition and concrete foundation removal.
Fox Valley Pro Basketball, Inc. is proposing to develop a 3,500 seat multi-use arena on the subject
site which will also house a 157 seat sports bar and team store open to the public on non-event
days. The arena will host the Milwaukee Buck’s Development League (D League) team for
approximately 24 games during the November through May season. Fox Valley Pro Basketball,
Inc. will hold concerts and other sporting events in the proposed arena.
Fox Valley Pro Basketball, Inc. will be responsible for onsite private development costs as well as
the public infrastructure improvements required in the right of way to serve the site and arena.
Fox Valley Pro Basketball, Inc. intends to open for the 2017-2018 D League basketball season
starting in November of 2017.
16715866.5
EXHIBIT C
Estimate of Property Project Costs
Note:Exhibit C will be updated upon completion of the Project to reflect actual costs for
items no. 1 through 10, above.
16715866.5
EXHIBIT D
CITY MRO
UNITED STATES OF AMERICA
STATE OF WISCONSIN
COUNTY OF WINNEBAGO
CITY OF OSHKOSH
TAXABLE TAX INCREMENT PROJECT MUNICIPAL REVENUE OBLIGATION (“MRO”)
Number Date of Original Issuance Amount
_____________________$_____________
FOR VALUE RECEIVED, the City of Oshkosh, Winnebago County, Wisconsin (the“City”), promises to pay to Fox Valley Pro Basketball, Inc. (the “Developer”), or registered
assigns, but only in the manner, at the times, from the source of revenue and to the extent
hereinafter provided, the principal amount not to exceed [$5,138,700], with interest thereon at the
rate of five percent (5%) per annum, adjusted on November 1, 2024 to a rate equal to the then-
current City tax-exempt cost of funds plus two percent (2%).
Interest shall begin to accrue on the date on which this MRO is issued. This MRO shall be
payable in installments on November 1 (the “Payment Dates”) in each of the years set forth in
Schedule 1 attached hereto in an amount equal to the Available Tax Increments for the prior year
provided such payments are due under the Development Agreement, as hereinafter defined.
Payments shall be applied first to accrued interest and second to unpaid principal. Payments on
this MRO shall be made only to the extent that the City has received Available Tax Increments.
This MRO has been issued to finance projects within the City’s Tax Incremental District
No. 31 (“District”) and is payable only from the income and revenues herein described, which
income and revenues have been set aside as a special fund for that purpose and identified as the
“Special Redemption Fund” provided for under the Resolution adopted on __________, 2017 by
the Common Council of the City (the “Resolution”). This MRO is issued pursuant to the
Resolution and pursuant to the terms and conditions of the Tax Incremental District No. 31
Development Agreement dated as of ____________, 2017 among the City, the Redevelopment
Authority of the City of Oshkosh, Wisconsin, and the Developer (“Development Agreement”).
This MRO does not constitute an indebtedness of the City within the meaning of any constitutional
or statutory limitation or provision. This MRO shall be payable solely from Available Tax
Increments generated by the Project located within the District and appropriated by the Common
Council to the payment of this MRO (the “Revenues”). Reference is hereby made to the
Resolution and the Development Agreement for a more complete statement of the revenues from
which and conditions and limitations under which this MRO is payable and the general covenants
and provisions pursuant to which this MRO has been issued. The Resolution and Development
Agreement are incorporated herein by this reference. Capitalized terms used in this MRO which
16715866.5
are not defined in this MRO shall have the meaning attributable to such terms as set forth in the
Development Agreement.
The City shall have no obligation to pay any amount of this MRO which remains unpaid
after the Final Payment Date of November 1, 2045.
The City makes no representation or covenant, express or implied, that the Available Tax
Increments or other Revenues will be sufficient to pay, in whole or in part, the amounts which are
or may become due and payable hereunder.
The City’s payment obligations hereunder are subject to appropriation, by the Common
Council, of Available Tax Increments to make payments due on this MRO. In addition, as
provided in Section IV.D of the Development Agreement, the total principal amount to be paid
shall in no event exceed $________________. When the amount of Revenue has been
appropriated and applied to payment of this MRO, the MRO shall be deemed to be paid in full and
discharged, and the City shall have no further obligation with respect hereto. Further, as provided
in Section IX.B.1 of the Development Agreement, the City shall have no obligation to make
payments on this MRO in the event of certain defaults under the Development Agreement.
This MRO is a special, limited revenue obligation and not a general obligation of the City
and is payable by the City only from the sources and subject to the qualifications stated,
incorporated or referenced herein. This MRO is not a general obligation of the City, and neither
the full faith and credit nor the taxing powers of the City are pledged to the payment of the principal
of this MRO. Further, no property or other asset of the City, except the above-referenced
Revenues, is or shall be a source of payment of the City’s obligations hereunder.
This MRO is issued by the City pursuant to, and in full conformity with, the Constitution
and laws of the State of Wisconsin.
This MRO may be transferred or assigned, in whole or in part, only with the consent of the
City. Interests in this MRO may not be split, divided or apportioned. In order to transfer or assign
the MRO, the transferee or assignee shall surrender the same to the City either in exchange for a
new, fully-registered municipal revenue obligation or for transfer of this MRO on the registration
records for the MRO maintained by the City. Each permitted transferee or assignee shall take this
MRO subject to the foregoing conditions and subject to all provisions stated or referenced herein.
It is hereby certified and recited that all conditions, things and acts required by law to exist
or to be done prior to and in connection with the issuance of this MRO have been done, have
existed and have been performed in due form and time.
16715866.5
IN WITNESS WHEREOF, the City Council of the City of Oshkosh has caused this MRO
to be signed on behalf of the City by its duly qualified and acting City Manager and City Clerk,
and its corporate seal to be impressed hereon, all as of the date of original issue specified above.
CITY OF OSHKOSH
By:
Name:
Title:
Attest:
Name:
Title:
16715866.5
Schedule 1
Payment Schedule
Subject to the City’s annual receipt of Available Tax Increment and the terms and conditions of
the Development Agreement, the City shall pay to Developer the total Project Increment Surplus
received by the City for the prior year:
Payment Date Payment Amount
November 1, 2019 Available Tax Increment for 2018
November 1, 2020 Available Tax Increment for 2019
November 1, 2021 Available Tax Increment for 2020
November 1, 2022 Available Tax Increment for 2021
November 1, 2023 Available Tax Increment for 2022
November 1, 2024 Available Tax Increment for 2023
November 1, 2025 Available Tax Increment for 2024
November 1, 2026 Available Tax Increment for 2025
November 1, 2027 Available Tax Increment for 2026
November 1, 2028 Available Tax Increment for 2027
November 1, 2029 Available Tax Increment for 2028
November 1, 2030 Available Tax Increment for 2029
November 1, 2031 Available Tax Increment for 2030
November 1, 2032 Available Tax Increment for 2031
November 1, 2033 Available Tax Increment for 2032
November 1, 2034 Available Tax Increment for 2033
November 1, 2035 Available Tax Increment for 2034
November 1, 2036 Available Tax Increment for 2035
In any event, the total payment to Developer on this MRO shall not exceed $5,138,700, exclusive
of interest.
16715866.5
REGISTRATION PROVISIONS
This MRO shall be registered in registration records kept by the City Clerk of the City of Oshkosh,
Winnebago County, Wisconsin,such registration to be noted in the registration blank below and
upon said registration records, and this MRO may thereafter be transferred only upon
representation of this MRO together with a written instrument of transfer approved by the City and
duly executed by the Registered Owner or his attorney, such transfer to be made on such records
and endorsed hereon.
Date of Registration Name of Registered Owner Signature of City Clerk
16715866.5
EXHIBIT E
Projected District Revenue and Expenses
Organizational Joint Review Board Meeting Held: February 2, 2017
Public Hearing Held: February 7, 2017
Approval by Plan Commission: February 7, 2017
Adoption by Common Council: Scheduled for February 28, 2017
Approval by the Joint Review Board: TBD
February 22, 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
Mark Rohloff, City Manager City Representative
Mark Harris, County Executive Winnebago County
Melissa Kohn, Director – Oshkosh Campus Fox Valley Technical College District
Allison Garner, School Board President Oshkosh School District
Bill Castle 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 February 22, 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 $7,342,000 to facilitate
construction of the arena and the associated public infrastructure improvements that will be required to
support it. The estimated expenditures include $2,531,000 for necessary street and utility improvements
on E. 11th Avenue, S. Park Avenue, and S. Main Street, 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 $4,350,000 in estimated public and private improvement costs detailed above,
the City expects to pay an estimated $2,542,000 in interest expense on the incentive provided, $186,000
to pay the cost of an outstanding SBA loan associated with the development site, and an estimated
$265,000 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 23 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:
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 2 February 22, 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 February 22, 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 February 22, 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 February 22, 2017
SECTION 3:
Preliminary Maps of Proposed District Boundary
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 6 February 22, 2017
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 7 February 22, 2017
SECTION 4:
Maps Showing Existing Uses and Conditions
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 8 February 22, 2017
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_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 10 February 22, 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 February 22, 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 February 22, 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 February 22, 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 February 22, 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, and S Main Street 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 February 22, 2017
SECTION 8:
Maps Showing Proposed Improvements and Uses
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 16 February 22, 2017
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 17 February 22, 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 Paving2017324,000180,000504,000
2Water Main2017162,00086,000248,000
3Sanitary Sewer Main201780,00066,000146,000
4Storm Sewer201770,000970,0001,040,000
5Sidewalk 201757,60032,00030,000119,600
6Traffic Signals2017125,000125,000250,000
7Street Lights201779,20044,000100,000223,200
8Remediation Expense2017825,000825,000
9Geo Pier & Grid Installation2017759,600759,600
10Stormwater Management2017234,050234,050
Total Supporting Project List897,8001,503,000130,0001,818,6504,349,450
Estimated Project List
11Development Incentive Principal2019 ‐ 2040(Total from Above)4,349,450
12Development Incentive Interest2019 ‐ 20402,541,995
13SBA Loan2019 ‐ 2032185,551
14Administrative Costs2017 ‐ 2040265,000
Total Projects 7,341,996
Notes:
1Cost estimates for Project ID Nos. 1 ‐ 10 provided by City staff.
2Portions of E. 11th Avenue, S. Park Avenue, and S Main Street that will be improved adjoin but do not lie entirely within the boundaries of the District. To the extent
2improvements are 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 Site Work
TotalProject ID Project Name/Type Projected
Year
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 18 February 22, 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 February 22, 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 $7,342,000 to facilitate
construction of the arena and the associated public infrastructure improvements that will be required to
support it. The estimated expenditures include $2,531,000 for necessary street and utility improvements
on E. 11th Avenue, S. Park Avenue, and S. Main Street, 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 $4,350,000 in estimated public and private improvement costs detailed above,
the City expects to pay an estimated $2,542,000 in interest expense on the incentive provided, $186,000
to pay the cost of an outstanding SBA loan associated with the development site, and an estimated
$265,000 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 February 22, 2017
Development Assumptions
ActualArenaAnnual Total
1201718,000,00018,000,00020171
22018020182
32019020193
42020020204
52021020215
62022020226
72023020237
82024 (8,000,000)(8,000,000)20248
92025020259
1020260202610
1120270202711
1220280202812
1320290202913
1420300203014
1520310203115
1620320203216
1720330203317
1820340203418
1920350203519
2020360203620
2120370203721
2220380203822
2320390203923
2420400204024
2520410204125
2620420204226
2720430204327
Totals010,000,00010,000,000
Notes:
1Estimated valuation provided by City of Oshkosh staff on 1‐4‐2017.
City of Oshkosh, Wisconsin
Tax Increment District # 31
Development Assumptions1
Construction YearConstruction Year
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 21 February 22, 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/YearsYes3Tax Exempt Discount Rate4.00%
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
82024 ‐8,000,0002025010,000,0002026$26.98 269,831 3,112,3382,936,017
9202502026010,000,0002027$26.98 269,831 3,301,9183,102,673
10202602027010,000,0002028$26.98 269,831 3,484,2063,260,640
11202702028010,000,0002029$26.98 269,831 3,659,4833,410,372
12202802029010,000,0002030$26.98 269,831 3,828,0193,552,299
13202902030010,000,0002031$26.98 269,831 3,990,0733,686,826
14203002031010,000,0002032$26.98 269,831 4,145,8943,814,340
15203102032010,000,0002033$26.98 269,831 4,295,7213,935,206
16203202033010,000,0002034$26.98 269,831 4,439,7864,049,771
17203302034010,000,0002035$26.98 269,831 4,578,3104,158,364
18203402035010,000,0002036$26.98 269,831 4,711,5074,261,295
19203502036010,000,0002037$26.98 269,831 4,839,5804,358,861
20203602037010,000,0002038$26.98 269,831 4,962,7284,451,340
21203702038010,000,0002039$26.98 269,831 5,081,1394,538,997
22203802039010,000,0002040$26.98 269,831 5,194,9954,622,085
23203902040010,000,0002041$26.98 269,831 5,304,4734,700,842
24204002041010,000,0002042$26.98 269,831 5,409,7404,775,492
25204102042010,000,0002043$26.98 269,831 5,510,9584,846,251
26204202043010,000,0002044$26.98 269,831 5,608,2834,913,321
27204302044010,000,0002045$26.98 269,831 5,701,8654,976,895
Totals10,000,0000Future Value of Increment8,796,497
Notes:
1Tax rate shown is actual TID Interim Rate for the 2016/17 levy per DOR Form PC‐202 (Tax Increment Collection Worksheet).
27
Yes
City of Oshkosh, Wisconsin
Tax Increment District # 31
Tax Increment Projection Worksheet
Blighted Area
February 28, 2017
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5
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6
0
(0)3,350,8372023
20
2
4
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5
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1
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(0)3,032,8142024
20
2
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(0
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9
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(0)2,308,1002028
20
2
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2
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2
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9
1
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4
1
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26
9
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1
0
(0)2,164,5992029
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)
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2
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9
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1
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(0)2,013,9232030
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1
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)
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9
,
8
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1
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2
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3
1
0
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20
3
2
2
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1
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9
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3
1
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5
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1
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To
t
a
l
8
,
7
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,
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0
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9
9
6
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
wi
t
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
pa
r
t
i
c
i
p
a
t
i
o
n
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
Ci
t
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
sit
e
im
p
r
o
v
e
m
e
n
t
s
th
a
t
wi
l
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.
3Re
f
l
e
c
t
s
re
m
a
i
n
i
n
g
lia
b
i
l
i
t
y
fo
r
ex
i
s
t
i
n
g
SB
A
lo
a
n
as
s
o
c
i
a
t
e
d
wi
t
h
th
e
pr
o
p
e
r
t
y
to
be
ac
q
u
i
r
e
d
by
th
e
Ci
t
y
.
CumulativePAYGO 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
f
e
r
r
e
d
In
t
e
r
e
s
t
S
B
A
Lo
a
n
3
Ad
m
i
n
.
To
t
a
l
Ex
p
e
n
d
i
t
u
r
e
s
An
n
u
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
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
Pr
o
j
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c
t
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d
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v
e
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u
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s
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x
p
e
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d
i
t
u
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s
B
a
l
a
n
c
e
s
Pa
y
As
Yo
u
Go
(P
A
Y
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)
De
v
e
l
o
p
e
r
Ob
l
i
g
a
t
i
o
n
1
Projected TID Closure
_____________________________________________________________________________________________
Project Plan TID No. 31 Creation City of Oshkosh
Prepared by Ehlers Page 23 February 22, 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 February 22, 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 February 22, 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 February 22, 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
202652,829112,93593,20610,861269,8312026
202752,829112,93593,20610,861269,8312027
202852,829112,93593,20610,861269,8312028
202952,829112,93593,20610,861269,8312029
203052,829112,93593,20610,861269,8312030
203152,829112,93593,20610,861269,8312031
203252,829112,93593,20610,861269,8312032
203352,829112,93593,20610,861269,8312033
203452,829112,93593,20610,861269,8312034
203552,829112,93593,20610,861269,8312035
203652,829112,93593,20610,861269,8312036
203752,829112,93593,20610,861269,8312037
203852,829112,93593,20610,861269,8312038
203952,829112,93593,20610,861269,8312039
204052,829112,93593,20610,861269,8312040
204152,829112,93593,20610,861269,8312041
204252,829112,93593,20610,861269,8312042
204352,829112,93593,20610,861269,8312043
204452,829112,93593,20610,861269,8312044
204552,829112,93593,20610,861269,8312045
Total 1,722,2183,681,6883,038,511354,0798,796,497
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