HomeMy WebLinkAbout17. 17-603 DECEMBER 12, 2017 17-603 RESOLUTION
(CARRIED 6-0 LOST LAID OVER WITHDRAWN )
PURPOSE: AUTHORIZE THE SUBMISSION OF A WISCONSIN ECONOMIC
DEVELOPMENT CORPORATION GRANT APPLICATION FOR
THE COMMUNITY DEVELOPMENT INVESTMENT GRANT
PROGRAM FOR THE OSHKOSH CORPORATION EXPANSION
AND OSHKOSH AVENUE CORRIDOR ENHANCEMENT
PROJECT; ACCEPT FUNDS
INITIATED BY: COMMUNITY DEVELOPMENT DEPARTMENT
WHEREAS, the Wisconsin Economic Development Corporation (WEDC) has
grant funds available for projects to support local initiatives with a downtown emphasis
by providing financial incentives for projects that are shovel-ready and community
driven; and
WHEREAS, local municipalities are an eligible applicant and can apply for said
grant funds; and
WHEREAS, the City is applying for said grant funds for the Oshkosh Corporation
Expansion and Oshkosh Avenue Enhancement Project to offset public infrastructure
improvement costs.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
Oshkosh that the proper City officials are hereby authorized to submit a Community
Development Investment grant application to Wisconsin Economic Development
Corporation to obtain funds for said purpose.
BE IT FURTHER RESOLVED that if said grant funds are awarded, the proper City
officials are hereby authorized and directed to accept said funds, pursuant to the terms
of the grant application, and to execute any and all documents and assurances which may
be required for purposes of same.
TO: Honorable Mayor and Members of the Common Council
FROM: Kelly Nieforth, Economic Development Services Manager
DATE: December 6, 2017
RE: Authorize the Submission of a Wisconsin Economic Development Corporation
Grant Application for the Community Development Investment (CDI) Grant
Program for the Oshkosh Corporation Expansion and Oshkosh Avenue Corridor
Enhancement Project; Accept Funds
BACKGROUND
Staff will be submitting a $250,000 Community Development Investment (CDI) grant
application to WEDC to offset a portion of the public infrastructure improvement costs that are
necessary for the proposed Oshkosh Corporation global headquarters facility and Oshkosh
Avenue corridor enhancement project.
Oshkosh Corporation is proposing a multi-million dollar investment in the city's Oshkosh
Avenue corridor and Lakeshore Municipal Golf Course which includes constructing a four-
story office building and parking lot. The City is responsible for the design and installation of
the public infrastructure necessary to accommodate the development.
Multiple private developers are in the process of purchasing privately -owned land along the
Oshkosh Avenue corridor with the intent to redevelop. These new commercial businesses will
increase the daily vehicular traffic and have an impact the corridor as well.
ANALYSIS
The public infrastructure improvements for the corridor will be paid for by the City. The grant
is intended to offset some costs for the City. The grant is proposed to fund public
infrastructure improvements which will improve pedestrian and vehicular safety within the
corridor and serve the new developments.
City Hall, 215 Church Avenue P.O. Box 1130 Oshkosh, WI 54903-1130 920.236.5000 http://www.ci.oshkosh.wi.us
The general schedule for the project is:
• Public infrastructure design starts Winter, 2018
• Private construction starts Spring, 2018
• Public improvements start Summer, 2018
• Public improvements and private construction complete by Fall, 2019
FISCAL IMPACT
The City of Oshkosh will be responsible to pay for the necessary public infrastructure
improvements in the corridor. The City will pay for the costs from the following accounts:
SOURCES:
Total Sources
Revolving Loan Fund
900,000.00
* Grants - Tea/WEDC/DNR
1,500,000.00
Proceeds Land Disposition
350,000.00
Deferred Capital Projects
827,000.00
Project Savings from Prior Capital Projects
2,468,600.00
2018 GO Borrowing
1,180,100.00
Total
7,225,700.00
* If grants are not awarded, City will have to borrow additional funds.
RECOMMENDATION
The City Council approves the submission of the WEDC CDI grant application and accepts the
WEDC CDI grant funds should it be awarded.
Respectfully Submitted, Approved:
Kelly Nieforth Mark A. Rohloff
Economic Development Services Manager City Manager
City Hall, 215 Church Avenue P.O. Box 1130 Oshkosh, WI 54903-1130 920.236.5000 http://vvww.ci.oshkosh.wi.us