HomeMy WebLinkAbout06. 17-410 AUGUST 22, 2017 17-410 RESOLUTION
(CARRIED 7-0 LOST LAID OVER WITHDRAWN )
PURPOSE: APPROVE OPTION TO PURCHASE AGREEMENT WITH
BOBOLINK MITCHELL FALLS, LLC/ SOUTHWEST INDUSTRIAL
PARK
INITIATED BY: BOBOLINK MITCHELL FALLS, LLC
BE IT RESOLVED by the Common Council of the City of Oshkosh that the option
to purchase submitted by Bobolink Mitchell Falls, LLC to acquire the vacant lot north of
Highway 91 and west of Global Parkway, per the attached map, is hereby accepted and
the proper officials are hereby authorized and directed to execute any and all documents
necessary for purposes of same.
TO: Honorable Mayor and Members of the Common Council
FROM: Kelly Nieforth, Economic Development Services Manager
DATE: August 16, 2017
RE: Approve Option to Purchase Agreement with Bobolink Mitchell Falls, LLC;
Southwest Industrial Park
BACKGROUND
The applicant is interested in obtaining a 6- month Option to Purchase for a 24 acre vacant lot in
the city's Southwest Industrial Park in order to perform their due diligence required for the
environmental and engineering research and analysis needed to determine the feasibility of their
project.
ANALYSIS
The applicant is exploring the potential of building a new facility and would like to perform a
geo-technical investigation and a wetland delineation on the parcel, prior to purchase. The
attached map identifies the 24 acre parcel.
The applicant has proposed basic terms, including a 6 month option until January 29111, 2018. The
proposed purchase price would be $26,000 per acre, in accordance with current prices of other
parcels in the SWIP.
FISCAL IMPACT
The land is currently owned by the City and has no value. The sale of the land would result in
a property value increase and employment increase in the SWIP.
RECOMMENDATION
The Common Council approves the Option to Purchase.
Submitted,
11l*al�
Kelly Nieforth
Economic Development Services Manager
A proved,
John Fitzpatrick
Assistant City Manager