HomeMy WebLinkAbout8-17-17 RDA PacketREDEVELOPMENT AUTHORITY
of the City of Oshkosh
c/o Community Development Department
215 Church Ave., PO Box 1130
Oshkosh, WI 54902-1130
(920) 236-5055
(920) 236-5053 FAX
http://www.ci.oshkosh.wi.us
H. ALLEN DAVIS
Executive Director
STEVE CUMMINGS
Chairman
REDEVELOPMENT AUTHORITY
OF THE CITY OF OSHKOSH
Oshkosh City Hall, Room 203
4:00 pm
August 17, 2017
1)ROLL CALL
2)NEW BUSINESS
17-16 Approve Land Disposition of Property at 1017 Bowen Street to Robert
Wonders; $118,000.00
3)ADJOURNMENT
REDEVELOPMENT AUTHORITY OF THE CITY OF OSHKOSH, WISCONSIN
AUGUST 17, 2017 17-16 RESOLUTION
(CARRIED_______LOST_______LAID OVER_______WITHDRAWN_______)
PURPOSE:Approve Land Disposition of Property at 1017 Bowen Street to
Robert Wonders; $118,000.00
BE IT RESOLVED by the Redevelopment Authority of the City of Oshkosh that
the property located at 1017 Bowen Street is hereby disposed and the proper officials are
hereby authorized and directed to execute any and all documents necessary to sell said
property to Robert Wonders for $118,000.00.
TO:City of Oshkosh Redevelopment Authority
FROM:Allen Davis, Community Development Director
DATE:August 16, 2017
SUBJECT:17-16 Approve Land Disposition of Property at 1017 Bowen Street to Robert
Wonders ($118,000)
BACKGROUND
The property at 1017 Bowen Street was donated to the RDA a couple of years ago. The
house was structurally sound and the RDA decided to rehabilitate the house.
Rehabilitation work was completed in late 2016. Staff tried unsuccessfully to sell the
house outright. The property was listed with Adashun Jones the first part of August and
an offer has been submitted for the RDA's consideration.
ANALYSIS
The RDA invested approximately $105,000 in the rehabilitation work. In discussions with
the City Assessor's office, it was felt the property could be assessed at between $110,000
and $120,000.The offer before the RDA is $118,000 which is in line with what the
property could be assessed at. A couple of conditions on the offer is that the RDA pay
for a one year home warranty plan (not to exceed $450) and excavation/tile work on one
of the basement walls be completed prior to closing. The basement wall work has been
contracted out and scheduled for completion in mid-September (approximately $5,000).
If the RDA approves of the land sale,the closing would take place the end of
September/mid-October.
RECOMMENDATION
The RDA approves the land disposition at 1017 Bowen Street to Robert Wonders for
$118,000.