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39. 18-60
JANUARY 23, 2018 18-60 RESOLUTION (CARRIED 7-0 LOST LAID OVER WITHDRAWN ) PURPOSE: APPROVE TAX INCREMENT DISTRICT NO. 35 PROJECT PLAN; DESIGNATE TAX INCREMENT DISTRICT NO. 35 BOUNDARIES; CREATE TAX INCREMENT DISTRICT NO. 35 OSHKOSH AVENUE CORRIDOR INITIATED BY: CITY ADMINISTRATION PLAN COMMISSION RECOMMENDATION: Approved WHEREAS, the City of Oshkosh (the "City") has determined that use of Tax Incremental Financing is required to promote development and redevelopment within the City; and WHEREAS, Tax Increment District No. 35 (the "District") is proposed to be created by the City as district in need of rehabilitation or conservation in accordance with the provisions of Wisconsin Statutes Section 66.1105 (the "Tax Increment Law"); and WHEREAS, a Project Plan for the District has been prepared that includes: a. A statement listing the kind,number and location of all proposed public works or improvements within the District, or to the extent provided in Wisconsin Statutes Sections 66.1105(2)(k) and 66.1105(4)(gm), outside of the District; b. An economic feasibility study; c. A detailed list of estimated project costs; d. A description of the methods of financing all estimated project costs and the time when the related costs or monetary obligations are to be incurred; e. A map showing existing uses and conditions of real property in the District; f. A map showing proposed improvements and uses in the District; g. Proposed changes of zoning ordinances, master plan, map,building codes and City ordinances; h. A list of estimated non-project costs; i. A statement of the proposed plan for relocation of any persons to be displaced; j. A statement indicating how the District promotes the orderly development of the City; JANUARY 23, 2018 18-60 RESOLUTION CONT'D k. An opinion of the City Attorney or of an attorney retained by the City advising that the plan is complete and complies with Wisconsin Statutes Section 66.1105(4)(f); and WHEREAS, prior to its publication, a copy of the notice of public hearing was sent to owners of all property in the proposed district, to the chief executive officers of Winnebago County, the Oshkosh Area School District, and the Fox Valley Technical College District, and any other entities having the power to levy taxes on property located within the District, in accordance with the procedures specified in the Tax Increment Law; and WHEREAS, in accordance with the procedures specified in the Tax Increment Law, the Plan Commission, on January 2, 2018 held a public hearing concerning the project plan and boundaries and proposed creation of the District, providing interested parties a reasonable opportunity to express their views thereon; and WHEREAS, after said public hearing, the Plan Commission designated the boundaries of the District, adopted the Project Plan, and recommended to the Common Council that it create such District and approve the Project Plan NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Oshkosh that: 1. The boundaries of the District shall be named "City of Oshkosh Tax Increment District No. 35, Oshkosh Avenue Corridor", are hereby established as specified in Exhibit A of this Resolution. 2. The District is created effective as of January 1, 2018. 3. The Common Council finds and declares that: (a) Not less than 50% by area of the real property within the District is in need of rehabilitation or conservation work within the meaning of Wisconsin Statutes Section 66.1337(2m)(a). i. The district contains a majority (over 51%) of residential and commercial structures that were constructed before adoption of the Uniform Dwelling Code (1980) or the International Building Code (2009); JANUARY 23, 2018 18-60 RESOLUTION CONT'D ii. The average year of construction of residential structures in the district is 1920, prior to the development of modern residential building regulations, and rehabilitation of older pre Uniform Dwelling Code structures are often more challenging and costly to bring into compliance with current building codes iii. The majority of properties within the district exhibit some type of zoning nonconformity condition that will make redevelopment challenging to come into compliance with the City of Oshkosh Zoning Ordinance. iv. The majority of residential structures in the district are graded by the City Assessor as Average Grade and having an Average or Fair rating pertaining to their CDU (Condition/Desirability/Utility) and upon visual inspection of their site or grounds exhibit some need for rehabilitation that could benefit through creation of a Rehabilitation Program contemplated by the Project Plan; V. The district contains several properties that are located within the 100 year floodplain which may limit future improvements and make traditional financing more challenging. (b) Based upon the findings, as stated in 3(a) above, the District is declared to be a District in need of rehabilitation or conservation based on the identification and classification of the property included within the District. (c) The improvement of such area is likely to enhance significantly the value of substantially all of the other real property in the District. (d) The equalized value of the taxable property in the District plus the value increment of all other existing tax incremental districts within the City, does not exceed 12% of the total equalized value of taxable property within the City. (e) 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 Section 66.1105(5)(b). JANUARY 23, 2018 18-60 RESOLUTION CONT'D (f) The project costs relate directly to promoting rehabilitation or conservation of the area consistent with the purpose for which the District is created. (g) All property within TID #35 was within the City boundaries as of January 1, 2004. 4. The attached Project Plan for "City of Oshkosh Tax Increment District No. 35, Oshkosh Avenue Corridor" is hereby approved, and the City further finds the Plan is feasible and in conformity with the master plan of the City. BE IT FURTHER RESOLVED that the Common Council of the City of Oshkosh hereby approves creation of Tax Incremental Financing District No. 35 Oshkosh Avenue Corridor. "Exhibit A" TID 35 Oshkosh Avenue Corridor Legal Description BEING ALL OF RATH'S ADDITION, ALL OF WILDER'S REPLAT OF PART OF STURTEVANT'S SUBDIVISION, LOTS 7 AND 8 OF STURTEVANT'S SUBDIVISION OF BLOCK 100, LOTS 3 THROUGH 6 OF LEACH'S MAP OF BLOCK 100, ALL OF LOTS 30 THROUGH 38, 55 THROUGH 79 OF ALGOMA ADDITION, ALL OF SAWYER'S SUBDIVISION OF PART OF LOT 48, PART OF LOTS 1 AND 2 OF MCMILLEN'S REPLAT OF LOT S, LOTS 1 AND 2 OF SMITH'S ACRES PLAT, LOT 5 OF RUSCH AND HOEGH SUBDIVISION, ALL OF CERTIFIED SURVEY MAP NUMBERS 1222, 1606, 1999, 2196, 2376 AND 2810, LOT 1 OF CERTIFIED SURVEY MAP NUMBER 2251, LOT 2 OF CERTIFIED SURVEY MAP NUMBER 3895, LOT 2 OF CERTIFIED SURVEY MAP NUMBER 4327 AND PART OF LOT 1 AND ALL OF LOT 2 OF CERTIFIED SURVEY MAP NUMBER 5820, ALSO ALL OF THE RIGHTS-OF WAY OF RATH LANE, A PUBLIC ALLEY LOCATED BETWEEN OSHKOSH AVENUE AND GRAHAM AVENUE, A PUBLIC ALLEY LOCATED BETWEEN MAPLE AVENUE AND OSHKOSH AVENUE, A PUBLIC ALLEY LOCATED SOUTH OF LOTS 2 THROUGH 6 OF SAWYER'S SUBDIVISION OF PART OF LOT 48, ALSO PART OF THE RIGHTS-OF-WAY OF INTERSTATE 41, OSHKOSH AVENUE (STATE HIGHWAY 21), N. EAGLE STREET, PUNHOQUA STREET, FOX STREET, RAINBOW DRIVE, N. SAWYER STREET, N. WESTFIELD STREET, N. KOELLER STREET AND ROBIN AVENUE, ALSO ALL OF VACATED NORTH STREET AND PARTS OF VACATED RATH LANE AND VACATED OSHKOSH AVENUE, PARTS OF THE SOUTHEAST 1/40F THE NORTHWEST 1/4, NORTHEAST 1/40F THE SOUTHWEST 1/4, NORTHWEST 1/40F THE SOUTHWEST 1/4 AND SOUTHWEST 1/40F THE SOUTHWEST 1/40F SECTION 15, TOWNSHIP 18 NORTH, RANGE 16 EAST, ALL LOCATED IN GOVERNMENT LOT 2, THE SOUTH 1/20F THE NORTHWEST 1/4 AND THE SOUTHWEST 1/40F SECTION 15, TOWNSHIP 18 NORTH, RANGE 16 EAST, CITY OF OSHKOSH, WINNEBAGO COUNTY, WISCONSIN BOUNDED AND DESCRIBED AS FOLLOWS: BEGINNING AT THE WEST 1/4 CORNER OF SECTION 15, TOWNSHIP 18 NORTH, RANGE 16 EAST; THENCE N01°26'05"W, 600.33 FEET ALONG THE WEST LINE OF SAID SECTION 15 TO A POINT ON AN EXTENDED SOUTH LINE OF CERTIFIED SURVEY MAP NUMBER 7312 RECORDED AS DOCUMENT NUMBER 1757108 IN VOLUME 1 PAGE 7312, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE N89017'15"E, 317.63 FEET ALONG SAID EXTENDED SOUTH LINE AND SOUTH LINE OF CERTIFIED SURVEY MAP NUMBER 7312; THENCE S00030'00"E, 225.18 FEET ALONG A WEST LINE OF SAID CERTIFIED SURVEY MAP NUMBER 7312; THENCE N89015'27"E, 171.70 FEET ALONG A SOUTH LINE OF SAID CERTIFIED SURVEY MAP NUMBER 7312 TO A POINT ON A WESTERLY LINE OF RATH LANE; THENCE N00029'58"W, 84.92 FEET ALONG SAID WESTERN LINE OF RATH LANE TO A PONT ON A NORTHERLY LINE OF SAID RATH LANE; THENCE N89°18'55"E, 67.97 FEET ALONG SAID NORTHERLY LINE OF RATH LANE TO A PONT ON AN EASTERLY LINE OF SAID RATH LANE; THENCE S00°2958"E, 39.92 FEET ALONG SAID EASTERN LINE OF SAID RATH LANE TO A POINT ON A NORTH LINE OF SAID RATH LANE; THENCE N89°18'55"E, 529.99 FEET ALONG SAID NORTH LINE OF RATH LANE TO THE BEGINNING OF A CURVE TO THE LEFT; THENCE 23.02 FEET ALONG SAID CURVE, ALONG SAID NORTHERLY LINE OF RATH LANE, SAID CURVE HAVING A RADIUS OF 21.00 FEET AND A CHORD BEARING N57055'00"E, 21.88 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT; THENCE 42.91 FEET ALONG SAID CURVE, ALONG SAID NORTHERLY LINE OF RATH LANE, SAID CURVE HAVING A RADIUS OF 49.00 FEET AND A CHORD BEARING N5103621"E, 41.55 FEET TO A POINT ON A WEST LINE OF RATH LANE; THENCE N00020'06"W, 20.39 FEET ALONG SAID WEST LINE OF RATH LANE TO A POINT ON A NORTH LINE OF SAID RATH LANE; THENCE N89018'55"E, 60.00 FEET ALONG SAID NORTH LINE OF RATH LANE, ALSO BEING A SOUTH LINE OF SAID CERTIFIED SURVEY MAP NUMBER 7312; THENCE N89018'33"E, 138.86 FEET ALONG SAID SOUTH LINE OF CERTIFIED SURVEY MAP NUMBER 7312; THENCE N62031'54"E, 438.65 FEET ALONG SAID SOUTH LINE OF CERTIFIED SURVEY MAP NUMBER 7312; THENCE N61036'01"E, 488.03 FEET ALONG SAID SOUTH LINE OF CERTIFIED SURVEY MAP NUMBER 7312; THENCE S2904447"E, 405.00 FEET ALONG SAID SOUTH LINE OF CERTIFIED SURVEY MAP NUMBER 7312 TO A POINT ON THE NORTH LINE OF OSHKOSH AVENUE (STATE HIGHWAY 21); THENCE N6102846"E, 54.58 FEET ALONG SAID NORTH LINE OF OSHKOSH AVENUE (STATE HIGHWAY 21); THENCE S89044'04"E, 261.18 FEET ALONG SAID NORTH LINE OF OSHKOSH AVENUE (STATE HIGHWAY 21) TO A POINT ON THE WEST LINE OF N. EAGLE STREET; THENCE N0101358"E, 176.59 FEET ALONG SAID WEST LINE OF N. EAGLE STREET TO A POINT ON THE EXTENDED SOUTH LINE OF LOT 80 OF ALGOMA ADDITION; THENCE S89044'04'E, 1,524.35 FEET ALONG THE SOUTH LINES AND EXTENDED SOUTH LINES OF LOTS 80 THROUGH 103 OF SAID ALGOMA ADDITION TO A POINT ON THE EAST LINE OF RAINBOW DRIVE; THENCE S01017'05"W, 149.19 FEET ALONG SAID EAST LINE OF RAINBOW DRIVE TO A POINT ON THE NORTH LINE OF SAID OSHKOSH AVENUE (STATE HIGHWAY 21); THENCE S8902935"E, 391.01 FEET ALONG SAID NORTH LINE OF OSHKOSH AVENUE TO A POINT ON THE SOUTHWESTERLY SHORE LINE (U.S. HARBOR LINE) OF THE FOX RIVER AS ESTABLISHED BY A GENERAL ORDINANCE OF THE CITY OF OSHKOSH PER DOCUMENT NUMBER 276204, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE S29010'08"E, 72.52 FEET ALONG SAID HARBOR LINE; THENCE S09043'08"E, 390.97 FEET ALONG SAID HARBOR LINE TO A POINT BEING THE POINT OF BEGINNING OF A MEANDER LINE OF SAWYER CREEK; THENCE S82057'18"W, 228.73 FEET ALONG SAID MEANDER LINE; THENCE N84003'06"W, 392.47 FEET ALONG SAID MEANDER LINE; THENCE N27050'20"W, 59.29 FEET ALONG SAID MEANDER LINE; THENCE N56012'12"W, 18.14 FEET ALONG SAID MEANDER LINE TO A POINT ON THE EAST LINE OF N. SAWYER STREET, SAID POINT ALSO BEING THE END OF SAID MEANDER LINE; THENCE N65°20'32"W, 87.29 FEET TO A POINT ON THE WEST LINE OF N. SAWYER STREET, SAID POINT ALSO BEING THE BEGINNING OF A MEANDER LINE FOR SAWYER CREEK; THENCE N42002'30"W, 57.10 FEET ALONG SAID MEANDER LINE; THENCE N60026'12"W, 140.36 FEET ALONG SAID MEANDER LINE; THENCE N89001'37"W, 187.08 FEET ALONG SAID MEANDER LINE; THENCE S7103234"W, 201.71 FEET ALONG SAID MEANDER LINE TO A POINT ON THE EXTENDED WEST LINE OF THE EAST 1/2 OF LOT 43 OF SAID ALGOMA ADDITION SAID POINT ALSO BEING THE END OF SAID MEANDER LINE; THENCE N0103439"E, 199.79 FEET ALONG SAID EXTENDED WEST LINE OF THE EAST 1/2 AND WEST LINE OF THE EAST 1/2 OF SAID LOT 43 TO A POINT ON THE SOUTH LINE OF SAID OSHKOSH AVENUE (STATE HIGHWAY 21); THENCE N89044'04"W, 299.10 FEET ALONG THE SOUTH LINE AND EXTENDED SOUTH LINE OF OSHKOSH AVENUE (STATE HIGHWAY 21) TO THE SOUTHWEST CORNER OF SAID OSHKOSH AVENUE (STATE HIGHWAY 21) AND PUNHOQUA STREET; THENCE S01046'02"W, 178.89 FEET ALONG THE WEST LINE AND EXTENDED WEST LINE OF PUNHOQUA STREET TO THE NORTHEAST CORNER OF LOT 22 OF SAID ALGOMA ADDITION; THENCE N89055'01"W, 412.52 FEET ALONG THE NORTH LINES OF LOTS 22 THROUGH 29 OF SAID ALGOMA ADDITION TO A POINT ON THE EAST LINE OF N. EAGLE STREET; THENCE S0102433W, 336.34 FEET ALONG SAID EAST LINE AND EXTENDED EAST LINE OF N. EAGLE STREET TO A POINT ON THE EXTENDED NORTH LINE OF CERTIFIED SURVEY MAP NUMBER 6739 AS RECORDED AS DOCUMENT NUMBER 1640219 IN VOLUME 1, PAGE 6739, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE S8902352"W, 547.12 FEET ALONG SAID EXTENDED SOUTH LINE AND SOUTH LINE OF CERTIFIED SURVEY MAP NUMBER 6739 TO A POINT ON THE EAST LINE OF N. WESTFIELD STREET; THENCE N7001759"W, 112.27 FEET TO A POINT ON THE WEST LINE OF N. WESTFIELD STREET, ALSO BEING THE SOUTHEASTERLY CORNER OF LOT 2 OF SMITH'S ACRES PLAT, RECORDED AS DOCUMENT NUMBER 389866 IN FILE 1 OF PLATS, PAGE 20, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE S63057'22"W, 144.88 FEET ALONG THE SOUTH LINE OF SAID LOT 2 TO THE SOUTHWEST CORNER OF SAID LOT 2; THENCE N25057'18"W, 100.73 FEET ALONG THE WEST LINES OF LOTS 1 AND 2 OF SAID SMITH'S ACRES PLAT TO THE NORTHERNMOST CORNER OF LOT 10 OF THE FIRST ADDITION TO SMITH'S ACRES PLAT, RECORDED AS DOCUMENT NUMBER 447646 IN FILE 1 OF PLATS, PAGES 47 AND 47A, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE S60011'48"W, 119.36 FEET ALONG THE NORTH LINE OF SAID LOT 10 TO A CORNER ON THE EAST LINE OF LOT 2 OF CERTIFIED SURVEY MAP NUMBER 3895 RECORDED AS DOCUMENT NUMBER 994273 IN VOLUME 1, PAGE 3895, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE S0100041"E, 75.39 FEET ALONG THE EAST LINE OF SAID LOT 2 TO THE SOUTHEAST CORNER OF SAID LOT 2; THENCE N89054'58"W, 34.20 FEET ALONG THE SOUTH LINE OF SAID LOT 2 TO THE SOUTHWEST CORNER OF SAID LOT 2; THENCE N01°01'08"W, 41.51 FEET ALONG THE WEST LINE OF SAID LOT 2 TO THE SOUTHEAST CORNER OF LOT 2 OF CERTIFIED SURVEY MAP NUMBER 4327, RECORDED AS DOCUMENT NUMBER 1068549 IN VOLUME 1, PAGE 4327, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE S74°19'11"W, 46.93 FEET (RECORDED AS 45.63 FEET) ALONG THE SOUTH LINE OF SAID LOT 2 OF CERTIFIED SURVEY MAP NUMBER 4327; THENCE S79000'59"W, 45.63 FEET ALONG THE SOUTH LINE OF SAID LOT 2 OF CERTIFIED SURVEY MAP NUMBER 4327 TO THE SOUTHWEST CORNER OF SAID LOT 2 OF CERTIFIED SURVEY MAP NUMBER 4327; THENCE S7502642"W, 33.95 FEET ALONG A NORTH LINE OF LOT 1 OF SAID CERTIFIED SURVEY MAP NUMBER 4327 TO A NORTHEASTERN CORNER OF SAID LOT 1 OF CERTIFIED SURVEY MAP NUMBER 4327; THENCE S0102736"E, 56.62 FEET ALONG A WEST LINE OF SAID LOT 1 TO A SOUTHWEST CORNER OF SAID LOT 1 OF CERTIFIED SURVEY MAP NUMBER 4327, ALSO BEING A POINT ON THE NORTH LINE OF LOT 7 OF RUSCH AND HOEGH SUBDIVISION, RECORDED AS DOCUMENT NUMBER 495171 IN FILE 1 OF PLATS, PAGES 79 AND 79A, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE S64025'06"W, 116.72 FEET ALONG LOTS 7 AND 6 OF SAID RUSCH AND HOEGH SUBDIVISION TO THE SOUTHEAST CORNER OF LOT 5 OF SAID RUSCH AND HOEGH SUBDIVISION; THENCE S80019'14"W, 160.79 FEET ALONG THE SOUTH LINE OF SAID LOT 5 TO THE SOUTHWEST CORNER OF SAID LOT 5; THENCE S00006'15'E, 175.01 FEET ALONG THE WEST LINE OF LOTS 4, 3 AND 2 OF SAID RUSCH AND HOEGH SUBDIVISION TO THE NORTHEAST CORNER OF LOT 1 OF WESTFIELD HEIGHTS, RECORDED AS DOCUMENT NUMBER 762575 IN FILE 2 OF PLATS, PAGES 95 AND 95A, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE S89028'06"W, 90.00 FEET ALONG THE NORTH LINE OF SAID LOT 1 OF WESTFIELD HEIGHTS TO THE NORTHWEST CORNER OF SAID LOT 1 OF WESTFIELD HEIGHTS, ALSO BEING A POINT ON THE EAST LINE OF LOT 2 OF CERTIFIED SURVEY MAP NUMBER 2376, RECORDED AS DOCUMENT NUMBER 770177 IN VOLUME 1, PAGE 2376, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE S00006'13"E, 111.61 FEET ALONG SAID EAST LINE OF LOT 2 OF CERTIFIED SURVEY MAP NUMBER 2376 TO A POINT ON THE NORTH LINE OF LAURIE AVENUE, ALSO BEING THE START OF A CURVE TO THE RIGHT; THENCE 85.22 FEET ALONG SAID CURVE, ALONG SAID NORTHERLY LINE OF LAURIE AVENUE, SAID CURVE HAVING A RADIUS OF 50.00 FEET AND A CHORD BEARING S2505959.5W", 75.27 FEET TO A SOUTHEAST CORNER OF SAID LOT 2 OF CERTIFIED SURVEY MAP NUMBER 2376; THENCE S89028'06"W, 128.54 FEET (RECORDED AS 129.35 FEET) ALONG THE SOUTH LINE OF SAID LOT 2 OF CERTIFIED SURVEY MAP NUMBER 2376 TO THE SOUTHWEST CORNER OF SAID LOT 2 OF CERTIFIED SURVEY MAP NUMBER 2376; THENCE N00034'07"W, 141.50 FEET ALONG THE WEST LINE OF SAID LOT 2 OF CERTIFIED SURVEY MAP NUMBER 2376; THENCE S8603242"W, 75.56 FEET TO A POINT ON THE EAST LINE OF CERTIFIED SURVEY MAP NUMBER 1999, RECORDED AS DOCUMENT NUMBER 721221 IN VOLUME 1, PAGE 1999, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE S03°26'50"E, 119.38 FEET ALONG SAID EAST LINE OF CERTIFIED SURVEY MAP NUMBER 1999; THENCE S0002853"E, 20.36 FEET ALONG SAID EAST LINE OF CERTIFIED SURVEY MAP NUMBER 1999 TO A POINT ON THE SOUTH LINE OF SAID CERTIFIED SURVEY MAP NUMBER 1999; THENCE S8901931"W, 69.97 FEET ALONG SAID SOUTH LINE OF CERTIFIED SURVEY MAP NUMBER 1999 TO THE SOUTHWEST CORNER OF SAID CERTIFIED SURVEY MAP NUMBER 1999, ALSO BEING THE SOUTHEAST CORNER OF CERTIFIED SURVEY MAP NUMBER 2810, RECORDED AS DOCUMENT NUMBER 854945 IN VOLUME 1, PAGE 2810, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE S89005'53"W, 85.64 FEET (RECORDED AS 85.50 FEET) ALONG THE SOUTH LINE OF SAID CERTIFIED SURVEY MAP NUMBER 2810 TO THE SOUTHWEST CORNER OF SAID CERTIFIED SURVEY MAP NUMBER 2810; THENCE N0004342"W, 16.02 FEET ALONG THE WEST LINE OF SAID CERTIFIED SURVEY MAP NUMBER 2810 TO THE NORTHEAST CORNER OF LOT 2 OF CERTIFIED SURVEY MAP NUMBER 2251, RECORDED AS DOCUMENT NUMBER 753019 IN VOLUME 1, PAGE 2251, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE S61037'19"W, 64.00 FEET ALONG THE NORTH LINE OF SAID CERTIFIED SURVEY MAP NUMBER 2251 TO THE SOUTHEAST CORNER OF LOT 1 OF SAID CERTIFIED SURVEY MAP NUMBER 2251; THENCE N89036'08"W, 125.47 FEET ALONG THE SOUTH LINE OF SAID CERTIFIED SURVEY MAP NUMBER 2251 TO A POINT ON THE EAST LINE OF LOT 2 OF CERTIFIED SURVEY MAP NUMBER 1222, RECORDED AS DOCUMENT NUMBER 608318 IN VOLUME 1, PAGE 1222, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE S0001951"E, 77.40 FEET ALONG SAID EAST LINE OF LOT 2 OF CERTIFIED SURVEY MAP NUMBER 1222 TO THE SOUTHEAST CORNER OF SAID LOT 2 OF CERTIFIED SURVEY MAP NUMBER 1222, ALSO BEING A POINT ON THE WEST LINE OF SAID LOT 2 OF CERTIFIED SURVEY MAP NUMBER 2251; THENCE S00010'10"E, 675.65 FEET ALONG SAID WEST LINE AND EXTENDED WEST LINE OF CERTIFIED SURVEY MAP NUMBER 2251 TO A POINT ON THE NORTH LINE OF ROBIN AVENUE; THENCE S8903759"E, 243.84 FEET ALONG SAID NORTH LINE OF ROBIN AVENUE TO A POINT ON THE EXTENDED EAST LINE OF TAX PARCEL NUMBER 16-0870-01-01 AS DESCRIBED IN DOCUMENT NUMBER 1751951, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE S00021'37"E, 617.73 FEET ALONG THE EXTENDED EAST LINE AND EAST LINE OF SAID TAX PARCEL NUMBER 16-0870-01-01 TO A POINT ON A SOUTH LINE OF SAID TAX PARCEL NUMBER 16-0870-01-01; THENCE S71050'00"W, 708.63 FEET ALONG SAID SOUTH LINE OF TAX PARCEL NUMBER 16-0870-01-01; THENCE S8903458"W, 224.97 FEET ALONG SAID SOUTH LINE AND EXTENDED SOUTH LINE OF TAX PARCEL NUMBER 16-0870-01-01 TO A POINT ON THE WEST LINE OF SAID SECTION 15, TOWNSHIP 18 NORTH, RANGE 16 EAST; THENCE N00025'02"W, 2,149.05 FEET ALONG SAID WEST LINE TO THE POINT OF BEGINNING. DESCRIBED AREA CONTAINS 4,300,509 SQUARE FEET OR 98.726 ACRES MORE OR LESS, INCLUDING ALL LANDS BETWEEN DESCRIBED MEANDER LINES AND THE NORTH SHORE OF SAWYER CREEK. w C Tax Incremient Distdcf #3,5 An Oshkosh AvenueCOffidor Rehabilitati,,041 Parcel Idenfificaitiion Map 11 05, k h ..... ....................................... ..... . .... ...... ... ..... .. ........ . ...... ............................................................................................................... VA V ............ I Ji Legend .......... Flh:unl FH[) 1141-) 35 t Prep�:tirieu�i ;y EE[flem Flaii,ie E� Dece nf ii 11, 28, 2()l 7 N Tax IIncrement District #35 6% Oshkosh Avenue Corridor Rehabilitation Parcel Identification Map 2 .......... .................................................. ..................................................... 11. ......... AVE: ............. ....................... FM . ........... AVE. 63 ea MARLE AVE. ........... FILLN�OK, AVE" ........................... BUe-AAA 4 A 114 AV ............... BIUCI 1ANAI"J. ...... AVE, ... ........................... ........................ z0 WDw AVE AR Legend I D#35 R/cn;ned(W ................ I' 1,14"Af 1� ............... ....... ....... ....... : Pr¢,�Mect Phur : l THD 11,k) 35 (,I,i,eaPJ:'mo (",, f Prep:flrieu�i ,.v { [,dem Pai,�,,e 9 Decennd,,,aei, 28, 24'07 TO: Honorable Mayor and Members of the Common Council FROM: Darryn Burich Director of Planning Services DATE: January 18, 2018 RE: Approve Tax Increment District No. 35 Project Plan; Designate Tax Increment District No. 35 Boundaries; Create Tax Increment District No. 35 Oshkosh Avenue Corridor (Plan Commission recommends approval) BACKGROUND Tax Incremental District No. 35 (the "TID" or "District") is a proposed district "in need of rehabilitation or conservation" comprising approximately 65.56 acres located along the Oshkosh Avenue corridor generally between I-41 on the west and the Fox River on the east. The District is being created to pay the costs of public infrastructure and other costs needed to facilitate redevelopment along this corridor that is expected to occur because of the development of Oshkosh Corporation's new global headquarters on a portion of the Lakeshore Municipal Golf Course to the immediate north of the District and new private redevelopment in Oshkosh Ave and Koeller St. corridors. TID No. 35 is a city initiated TID. The City anticipates making total expenditures of approximately $12.25 million to undertake projects identified in the Project Plan. Project costs include an estimated $10.25 million in funding for public infrastructure including; street improvements; water and sanitary sewer system improvements; environmental contingency; streetscaping and landscaping; and a traffic impact analysis. Because the district includes a high percentage of one and two family structures that were built before the Uniform Dwelling Code was adopted in 1980 and are of average grade and condition per the Assessor's Classification, the Project Plan includes costs relative to creating a revolving loan and grant program targeted at improving the appearance, value, and functionality/desirability of that housing stock in the corridor which is a major gateway into the community. The corridor also contains a number of older commercial structures, especially in the eastern end of the district near the Sawyer Street intersection, of which nearly all have some form of zoning nonconforming condition that could also have access to a revolving loan program. Page 21 of the Project Plan shows the map of proposed improvements (in and outside the district) and detailed estimated project costs are on shown on page 23. The Project Plan :includes 'a statement hating the Lind, number, and location of proposed improvements which starts on page 16. It contains an economic feasibility study, a detailed list of estimated project costs and timing of those costs as well as a method of financing starting on page 24. The Plan also includes costs outside the district and within 1/2 mile of the boundary of the district. These, outside the district costs, are described on page 19 of the Project Plan. As a rehabilitation type TID, this District may stay open for 27 years but current projections have it being able to accumulate sufficient funds by the year 2043 to pay off all Project related debt in its 25thyear. However, this timeframe could change based on actual development occurring in the District, which could either shorten or potentially lengthen the timeframe of the district. While the Plan identifies development projections that cover the major infrastructure costs identified in the Plan, there are actually no redevelopment proposals yet permitted and thus the exact valuations are unknown at this time. TID # 35 received a composite score of 70 on the city's TID scoring matrix (attached) receiving high scores for; the presence of extraordinary development costs; direct benefit to distressed areas through blight elimination or redevelopment; and proposed employment potential. ANALYSIS The City is projecting that new land and improvements value of approximately $28.5 million will result from redevelopment activity within the District. These key assumptions are identified in Section 10 of the Plan starting on page 24. The "expected" improvements will generally occur in the area between N. Koeller Street on the west and N. Westfield Street extended on the east. Projects that have been discussed, but not approved, include a hotel, convenience store/gas station, three office or multi -buildings, restaurant, and a bank. Additionally, areas have been included where development opportunities may exist and will benefit from overall improvements to the corridor such as the former K -Mart site and the remaining parcel from the Howard Johnsons site. Additionally, along the corridor, there are other infill redevelopment sites that may redevelop over the life of the District that will add additional increment to the District and benefit from the proposed infrastructure improvements. Based on assumed debt service schedules and projected improvements the District is anticipated to accumulate sufficient funds by the year 2043 to pay off all Project related debt in its 25th year. The projected early closure is based on the various development assumptions noted in the Plan and will vary depending on actual costs incurred and the amount of actual tax increments collected. The District is being created as an area "in need of rehabilitation or conservation" within the meaning of Wis. Stat. 66.1337 (2m)(a) based on a finding that over 50% of the area is need of rehabilitation. The parcels identified as "in need of rehabilitation or conservation" are shown on the Existing Conditions map on page 12 of the plan. The Class A residential properties that are included are all older pre Uniform Dwelling Code that are graded out as Average City Hall • 215 Church Avenue • P.O. Box 1130 • Oshkosh, WI 54903-1130 http://www.ci.oshkosh.wi.us construction and classified as Average or Fair condition by the Assessor. The rationale for inclusion is that older homes of average quality construction and condition could be candidates for rehabilitation programming that could include updates and upgrades to improve the value and desirability of the structures. A number of the properties are substandard lots in area and a number have a nonconforming setback status both of which conditions can make it more challenging to sell and finance and thus could be candidates for rehabilitation programming or redevelopment. The proposed Plan is in general conformance with the City of Oshkosh's Comprehensive Plan identifying the area as appropriate for commercial, residential, and institutional uses. Creation of the District and the implementation of the projects in the Plan will promote orderly development of the City of Oshkosh by redeveloping and rehabilitating existing uses along Oshkosh Avenue, which is a gateway corridor into the center city. The activities proposed will add to the tax base, retain and provide for employment opportunities, and will generate positive secondary impacts in the community such as providing infrastructure needed to allow for construction of Oshkosh Corporations new global headquarters. 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. FISCAL IMPACT TID No. 35 contains major costs related to improving/extending infrastructure along the Oshkosh Avenue corridor as well as extending streets servicing the corridor (N. Koeller, N. Westfield, and N. Sawyer). With the expected new value in the District, these project costs are projected to be recovered through the increased incremental value. RECOMMENDATION The Plan Commission recommended approval of Tax Increment District No. 35 Project Plan and the designation of the boundaries at its January 2, 2018 meeting. Respectfully Submitted, Darryn Burich Director of Planning Services Approved: Mark A. Rohloff City Manager City Hall • 215 Church Avenue • P.O. Box 1130 • Oshkosh, WI 54903-1130 http://www.ci.oshkosh.wi.us Prosect: Oshkosh Avenue Corridor, TID #35 Tvpe of TID: Blight and Redevelopment Criteria Score Notes 1. Presence of extraordinary development/redevelopment costs such as: a. Remodeling/Rehab/Demo 20 points if costs are greater than 20% of Fair Market Value (FMV); Extraordinary costs for redevelopment, b. Environmental Remediation 20 15 points if costs are 15-20% of FMV 10 points if costs are 10 %of FMV rehab, remodeling, installing public infrastructure, c. Facility Expansion 5 points if costs are 5% of FMV and potential environmental issues. d. Public Infrastructure 25 points if property poses a heath or community -wide threat; 2. Project provides direct benefit to distressed areas through blight 20 points if property has been declared blighted or is under raze order by the City before the TIF Multiple properties in the District are elimination or redevelopment 15 application is submitted; nonconforming and/or a neer repair order. 15 points if property is nonconforming and/or under repair order; 10 points if property meets the Blight Designation per TIF State Statutes City's strategic planning documents such as: a. The Comprehensive Plan The Bike and Ped Plan has recommendations for a b. The Downtown Action Plan 10 points if project is implements a specific recommendation in local planning document; new trail along Oshkosh Avenue, the city's 2017- c. The Riverwalk Plan 10 5 points if project implements a general recommendation in a local planning document; 2018 Strategic Plan supports redevelopment and d. The Vision Report updating city infrastructure. The Vision Oshkosh e. Imagine Oshkosh Plan identified gateway improvements in the f. Other community and included Oshkosh Avenue. 15 Points if property is landmarked or on National Register; 4. Historic Preservation or rehab of a nationally or locally significant 5 10 Points if property is contributing or eligible for Register or located in a Historic District; There are multiple buildings in the district that are historic structure 5 Points if building is over SO years old over 50 years old. 5 points if site exceeds architectural design OR landscape requirements by 15% per Zoning S. Quality of development and overall aesthetics (architectural, site Code; There has been no information submitted to award design, landscaping, etc.) beyond that which is minimally required by the 0 5 BONUS points if BOTH architectural and landscaping requirements exceed 15% per Zoning Points in this category. Zoning standards have been Zoning Ordinance Code raised in the CBP District. 6. Environmental sustainability impacts such as higher standards of building and site design, materials and energy efficiency: 5 Points if LEED Certified or 10% of total building energy load provided by solar panels or other There has been no information submitted a. LEED certification, Energy Star, etc. 0 on-site renewable sources. to award points in this category. b. Use of Green infrastructure c. Solar or wind energy production 1 point for each 15% of building frontage ground floor space permanently reserved for retail, Trail and intersection improvements will 7. Enhance the streetscape and pedestrian experience 5 restaurants/cafes; 10 points for enhancing pedestrian access help pedestrians and terraces and medians will enhance the streetscaping. 1 Point for every 5 full-time equivalent jobs created or retained; 8. Proposed employment potential 10 5 BONUS points if 50% of the jobs create or retained are above the Oshkosh -Neenah MSA Proposed developments have potential to median income level create or retain at least 50 FT equivalent jobs. 9. Projects that involve development that is targeted to encourage an inflow 5 points if market study shows a gap or leakage for a particular product or service that currently of customers from outside the city of that provides services or fill 5 is not offered in the neighborhood or area. Proposed developments have been identified in underserved markets in the City existing market analysis as gap in the market. TOTAL SCORE 70 Point Total must be greater than 50 points or Council Waiver is required ITEM: PUBLIC HEARING ON PROPOSED CREATION OF TAX INCREMENT FINANCING DISTRICT NO. 35 OSHKOSH AVENUE CORRIDOR• DESIGNATION OF BOUNDARIES AND APPROVAL OF PROJECT PLAN Plan Commission meeting of January 2, 2018 Prior to taking action on proposed Tax Increment District (TID) No. 35 and the designation of boundaries for said TID, the Plan Commission is to hold a public hearing and take comments concerning proposed creation of TID No. 35. The public hearing is required as part of the formal review process the City must follow in the creation of any tax incremental financing district or amendment thereto. GENERAL INFORMATION Applicant/Owner: City of Oshkosh Administration GENERAL DESCRIPTION/BACKGROUND Tax Incremental District No. 35 (the "TID" or "District") is a proposed district "in need of rehabilitation or conservation" comprising approximately 65.56 acres located along the Oshkosh Avenue corridor general between I-41 on the west and the Fox River on the east. The District is being created to pay the costs of public infrastructure and other costs needed to facilitate redevelopment along this corridor that is expected to occur because of the construction of Oshkosh Corporations new global headquarters on a portion of the Lakeshore Municipal Golf Course to the immediate north of the District and new private redevelopment along Oshkosh Ave. The City anticipates making total expenditures of approximately $12.25 million to undertake projects identified in the Project Plan. Project costs include an estimated $10.25 million in funding for public infrastructure including; street improvements; water and sanitary sewer system improvements; environmental contingency; streetscaping and landscaping; and a traffic impact analysis. Because the district includes a high percentage of one and two family structures that were built before the Uniform Dwelling Code was adopted in 1980 and are of average grade and condition per the Assessor's Classification, the Project Plan includes costs relative to creating a revolving loan and grant program targeted at improving the appearance, value, and functionality of that housing stock in the corridor that is a gateway into the community. The corridor also contains a number of older commercial structures, especially in the eastern end of the district near the Sawyer Street intersection, of which nearly all have some type of zoning nonconforming condition that would also have access to the revolving loan program. Page 21 of the Project Plan shows the map of proposed improvements (in and outside the district) and detailed estimated project costs are on shown on page 23. The Project Plan includes a statement listing the kind, number, and location of proposed improvements which starts on page 16. It contains an economic feasibility study, a detailed list of estimated project costs and timing of those costs as well as a method of financing starting on page 24. The Plan also includes costs outside the district and within 1/z mile of the boundary of the district. These, outside the district costs, are described on page 19 of the Project Plan. ANALYSIS The City is projecting that new land and improvements value of approximately $28.5 million will result from redevelopment activity within the District. These key assumptions are identified in Section 10 of the Plan starting on page 24. The "expected" improvements will generally occur in the area between N. Koeller Street on the west and N. Westfield Street extended on the east. Projects that have been discussed, but not approved, include a hotel, convenience store/gas station, three office or strip center buildings, restaurant, and a bank. Additionally, areas have been included where development may occur to help pay for project costs such as the former K -Mart site and the remaining parcel from the Howard Johnsons site. The area to the west of Master Lube, that contains an older single family home and a vacant parcel will be a candidate for redevelopment. There are also some older commercial developments in the east end of the District near N. Sawyer Street that may be candidates for redevelopment during the life of the district that would help pay for district costs. Based on assumed debt service schedules and projected improvements the District is anticipated to accumulate sufficient funds by the year 2043 to pay off all Project related debt in its 251h year. The projected early closure is based on the various development assumptions noted in the Plan and will vary depending on actual costs incurred and the amount of actual tax increments collected. The District is being created as an area "in need of rehabilitation or conservation" within the meaning of Wis. Stat. 66.1337 (2m)(a) based on a finding that over 50% of the area is need of rehabilitation. The parcels identified as "in need of rehabilitation or conservation" are shown on the Existing Conditions map on page 12 of the plan. The Class A residential properties that are included are all older pre Uniform Dwelling Code that are graded out as Average construction and classified as Average or Fair condition by the Assessor. The rationale for inclusion is that older homes of average quality construction and condition could be candidates for rehabilitation programming that could include updates and upgrades to improve the value of the structures. A number of the properties are substandard lots in area and a number have a nonconforming setback status both of which conditions can make it more challenging to sell and finance and thus could be candidates for rehabilitation programming or redevelopment. The proposed Plan is in general conformance with the City of Oshkosh's Comprehensive Plan identifying the area as appropriate for commercial, residential, and institutional uses. Creation of the District and the implementation of the projects in the Plan will promote orderly development of the City of Oshkosh by redeveloping and rehabilitating existing uses along Oshkosh Avenue, which is a gateway corridor into the center city. The activities proposed will add to the tax base, retain and provide for employment opportunities, and will generate positive secondary impacts in the community such as providing infrastructure needed to allow for construction of Oshkosh Corporation's new global headquarters. The proposed Plan Creation of TID #35 Oshkosh Avenue Corridor conforms to all relevant State and local ordinances, plans, and codes, thus, no changes to the existing regulations are proposed or needed. RECOMMENDATIONS/CONDITIONS Staff recommends approval of the Project Plan and Boundaries for TID #35 as proposed. The Plan Commission approved Creation of Tax Increment Financing District No. 35 Oshkosh Avenue Corridor; designation of boundaries and approval of project plan. The following is the Plan Commissions discussion on this item. Mr. Burich presented the item and reviewed the site and surrounding area as well as the land use, zoning classifications and the boundaries of the TID district. He discussed improvements included in the TID project plan, as well as the estimated project costs and method of financing. He stated there is approximately $1.6 million for a fagade/site improvement revolving loan fund (RLF) or grant program budgeted within the TIF to encourage private redevelopment consistent with the objectives of TIF #35 project plan. He reviewed the key economic development assumptions that may take place throughout the district which include, a hotel, office building, restaurant, and bank. The TID is projected to close in 2043, which is four years prior to the maximum life of the TID. Mr. Bowen inquired about the process for the RLF program and how dollars are allocated to each property in the district. Mr. Burich responded the program has not been created but it is anticipated the Redevelopment Authority (RDA) will approve the RLF program and approve projects. The goal of the RLF program is to improve values within the district utilizing those funds. Mr. Bowen thought it would be appropriate to have a joint workshop with the RDA, Plan Commission and Common Council to develop the RLF program and make sure priorities are aligned. Mr. Fojtik opened the Public Hearing on the proposed Tax Increment Financing District #35 Oshkosh Avenue Redevelopment. Bob Cruz, 1510 Oshkosh Avenue, stated he is a tenant in the duplex and heard residents could lose their homes due to widening Oshkosh Avenue. Mr. Gohde stated the traffic impact analysis for Oshkosh Avenue is not complete, but it is not anticipated the City would have to acquire houses. Dan fensen,1319 Oshkosh Avenue, questioned why Abe Rochlin Park was included in the TID but not Rainbow Park. Mr. Burich responded that the park was included in the TID because of the intersection improvements at Sawyer St. and Oshkosh Avenue. There are no proposed project costs for the park itself. Lynette Radtke, 1817 Oshkosh Avenue inquired about plans in the area near Robbins Restaurant. Creation of TID #35 Oshkosh Avenue Corridor Mr. Burich responded that traffic is expected to increase in this area. If land was needed for road improvements it could be taken from the north side of Oshkosh Avenue. Mr. Fojtik closed the Public Hearing on the proposed Tax Increment Financing District #35 Oshkosh Avenue Redevelopment. The Commission discussed if it was appropriate to do a traffic impact analysis across the Oshkosh Avenue Bridge to Algoma Blvd. Mr. Burich stated a traffic impact analysis may be needed in that area in the future and could be incorporated with the University. Motion by Vajgrt to approve the proposed creation of Tax Incremental Financing District #35 Oshkosh Avenue Redevelopment; Designation of boundaries and approval of project plan. Seconded by Borsuk. Motion carried 8-0-1. (Bowen abstained) Creation of TID #35 Oshkosh Avenue Corridor EHLERS LEADERS IN PUBLIC FINANCE December 28, 2017 Project Plan for the Creation of Tax Incremental District No. 35 (Oshkosh Avenue Corridor) Organizational Joint Review Board Meeting Public Hearing: Approval by Plan Commission: Adoption by Common Council: Approval by the Joint Review Board: January 2, 2018 January 2, 2018 January 2, 2018 Scheduled for January 23, 2018 Scheduled for January 30, 2018 O R 1 9X -x,52.1 1; 1 I w*+r ,ohlers-iroc, :G"m Tax Incremental District No. 35 Creation Project Plan City of Oshkosh Officials Common Council Steve Cummings Steve Herman Debra L. Allison-Aasby Lori Palmeri Caroline Panske Thomas R. Pech, Jr. Jake Krause City Staff Mark Rohloff Allen Davis Lynn Lorenson Darryn Bunch Kelly Nieforth Trena Larson Pamela Ubrig Plan Commission David Borsuk Edward Bowen Thomas Foitik, Chair Mike Ford John Hinz Joint Review Board Mark Rohloff, City Manager Mark Harris, County Executive Melissa Kohn, Director — Oshkosh Campus Allison Garner, School Board President To Be Appointed Mayor Deputy Mayor Council Member Council Member Council Member Council Member Council Member City Manager Community Development Director City Attorney Planning Director Economic Development Services Manager Finance Director City Clerk John Kiefer Kathleen Propp Robert Vajgrt Mayor Steve Cummings City Representative Winnebago County Fox Valley Technical College District Oshkosh School District Public Member 17$QK3-552-1171 I wWVVeh1ers-1nc.corn Table of Contents EXECUTIVE SUMMARY...........................................................................................................................................4 TYPE AND GENERAL DESCRIPTION OF DISTRICT........................................................................................6 PRELIMINARY MAPS OF PROPOSED DISTRICT BOUNDARY......................................................................7 MAPS SHOWING EXISTING USES AND CONDITIONS.................................................................................10 PRELIMINARY PARCEL LIST AND ANALYSIS.................................................................................................13 EQUALIZED VALUE TEST.....................................................................................................................................15 STATEMENT OF KIND, NUMBER AND LOCATION OF PROPOSED PUBLIC WORKS AND OTHER PROJECTS................................................................................................................................................................16 MAP SHOWING PROPOSED IMPROVEMENTS AND USES.........................................................................21 DETAILED LIST OF PROJECT COSTS..............................................................................................................23 ECONOMIC FEASIBILITY STUDY, FINANCING METHODS, AND THE TIME WHEN COSTS OR MONETARY OBLIGATIONS RELATED ARE TO BE INCURRED..................................................................24 ANNEXEDPROPERTY...........................................................................................................................................28 ESTIMATE OF PROPERTY TO BE DEVOTED TO RETAIL BUSINESS......................................................28 PROPOSED ZONING ORDINANCE CHANGES................................................................................................28 PROPOSED CHANGES IN MASTER PLAN, MAP, BUILDING CODES AND CITY OF OSHKOSH ORDINANCES..........................................................................................................................................................28 RELOCATION...........................................................................................................................................................29 ORDERLY DEVELOPMENT OF THE CITY OF OSHKOSH.............................................................................29 LIST OF ESTIMATED NON -PROJECT COSTS.................................................................................................29 OPINION OF ATTORNEY FOR THE CITY OF OSHKOSH ADVISING WHETHER THE PLAN IS COMPLETE AND COMPLIES WITH WISCONSIN STATUTES 66.1105......................................................30 CALCULATION OF THE SHARE OF PROJECTED TAX INCREMENTS ESTIMATED TO BE PAID BY THE OWNERS OF PROPERTY IN THE OVERLYING TAXING JURISDICTIONS.....................................32 PLAN COMMISSION PUBLIC HEARING/MINUTES OF JANUARY 2, 2018 .............................................33 COMMON COUNCIL CREATION RESOLUTION OF JANUARY 23, 2018 ..............................................36 JOINT REVIEW BOARD RESOLUTION OF JANUARY 30, 2018 ..................................... SECTION 1: Executive Summary Description of District Tax Incremental District ("TID") No. 35 ("District") is a proposed district "in need of rehabilitation or conservation" comprising 65.56 acres located generally along Oshkosh Avenue between Interstate 41 and the Fox River. The District will be created to pay the costs of public infrastructure and other costs needed to facilitate redevelopment along this corridor that is expected to occur because of the construction of Oshkosh Corporation's new global headquarters on a portion of the Lakeshore Municipal Golf Course to the immediate north of the District. Estimated Total Project Cost Expenditures The City anticipates making total expenditures of approximately $12.25 million ("Project Costs") to undertake the projects listed in this Project Plan ("Plan"). Project Costs include an estimated $10.25 million in funding for public infrastructure including: street improvements; water and sanitary sewer system improvements; storm water management improvements; environmental contingency; streetscaping and landscaping; and a traffic impact analysis. Public infrastructure identified in the Plan is expected to be installed in 2018, except for the Sawyer Street extension which is projected to be constructed in 2026 based on cash flow. Remaining costs include: $1.6 million to cash fund a loan and grant program for rehabilitation projects and $436,000 for administrative costs to be incurred over the life of the District. Incremental Valuation The City projects that new land and improvements value of approximately $28.5 million will result from redevelopment activity within the District. This redevelopment activity is likely to include construction of a hotel, convenience store, office building, restaurant, a branch bank and multi -tenanted retail space. ("Project"). This additional value will be a result of the improvements made and projects undertaken within the District. A table detailing assumptions as to the development timing and associated values is included in Section 10 of this Plan. Expected Termination of District Based on the Economic Feasibility Study located within this Plan the District is projected to close in 2043, three years prior to the end of its statutory maximum life of 27 -years. Summary of Findings As required by Wis. Stat. § 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. hl reaching this determination, the City has considered the substantial investment that is needed to rehabilitate the infrastructure within this corridor to accommodate the traffic and utility requirements associated with both anticipated redevelopment in the District as well as the construction of Oshkosh Corporation's new global headquarters which will be accessed via roads connecting to Oshkosh Avenue. Absent the use of tax incremental financing, the City is unable to fully fund this program of infrastructure improvements. Project Plan TID No. 35 Creation City of Oshkosh Prepared by Ehlers Page 4 December 28, 2017 TID 35 LEGAL DESCRIPTION BEING ALL OF RATH'S ADDITION, ALL OF WILDER'S REPLAT OF PART OF STURTEVANT'S SUBDIVISION, LOTS 7 AND 8 OF STURTEVANT'S SUBDIVISION OF BLOCK 100, LOTS 3 THROUGH 6 OF LEACH'S MAP OF BLOCK 100, ALL OF LOTS 30 THROUGH 38,55 THROUGH 79 OF ALGOMA ADDITION, ALL OF SAWYER'S SUBDIVISION OF PART OF LOT 48, PART OF LOTS 1 AND 2 OF MCMILLEN'S REPLAT OF LOT S, LOTS 1 AND 2 OF SMITH'S ACRES PLAT, LOT 5 OF RUSCH AND HOEGH SUBDIVISION, ALL OF CERTIFIED SURVEY MAP NUMBERS 1222, 1606, 1999, 2196, 2376 AND 2810, LOT 1 OF CERTIFIED SURVEY MAP NUMBER 2251, LOT 2 OF CERTIFIED SURVEY MAP NUMBER 3895, LOT 2 OF CERTIFIED SURVEY MAP NUMBER 4327 AND PART OF LOT 1 AND ALL OF LOT 2 OF CERTIFIED SURVEY MAP NUMBER 5820, ALSO ALL OF THE RIGHTS -OF WAY OF RATH LANE, A PUBLIC ALLEY LOCATED BETWEEN OSHKOSH AVENUE AND GRAHAM AVENUE, A PUBLIC ALLEY LOCATED BETWEEN MAPLE AVENUE AND OSHKOSH AVENUE, A PUBLIC ALLEY LOCATED SOUTH OF LOTS 2 THROUGH 6 OF SAWYER'S SUBDIVISION OF PART OF LOT 48, ALSO PART OF THE RIGHTS-OF-WAY OF INTERSTATE 41, OSHKOSH AVENUE (STATE HIGHWAY 21), N. EAGLE STREET, PUNHOQUA STREET, FOX STREET, RAINBOW DRIVE, N. SAWYER STREET, N. WESTFIELD STREET, N. KOELLER STREET AND ROBIN AVENUE, ALSO ALL OF VACATED NORTH STREET AND PARTS OF VACATED RATH LANE AND VACATED OSHKOSH AVENUE, PARTS OF THE SOUTHEAST 1/4 OF THE NORTHWEST 1/4, NORTHEAST 1/4 OF THE SOUTHWEST 1/4, NORTHWEST 1/4 OF THE SOUTHWEST 1/4 AND SOUTHWEST 1/4 OF THE SOUTHWEST 1/4 OF SECTION 15, TOWNSHIP 18 NORTH, RANGE 16 EAST, ALL LOCATED IN GOVERNMENT LOT 2, THE SOUTH 1/z OF THE NORTHWEST 1/4 AND THE SOUTHWEST 1/4 OF SECTION 15, TOWNSHIP 18 NORTH, RANGE 16 EAST, CITY OF OSHKOSH, WINNEBAGO COUNTY, WISCONSIN BOUNDED AND DESCRIBED AS FOLLOWS: BEGINNING AT THE WEST 1/4 CORNER OF SECTION 15, TOWNSHIP 18 NORTH, RANGE 16 EAST; THENCE N01°26'05"W, 600.33 FEET ALONG THE WEST LINE OF SAID SECTION 15 TO A POINT ON AN EXTENDED SOUTH LINE OF CERTIFIED SURVEY MAP NUMBER 7312 RECORDED AS DOCUMENT NUMBER 1757108 IN VOLUME 1 PAGE 7312, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE N89°17'15"E, 317.63 FEET ALONG SAID EXTENDED SOUTH LINE AND SOUTH LINE OF CERTIFIED SURVEY MAP NUMBER 7312; THENCE S00°30'00"E, 225.18 FEET ALONG A WEST LINE OF SAID CERTIFIED SURVEY MAP NUMBER 7312; THENCE N89°15'27"E, 171.70 FEET ALONG A SOUTH LINE OF SAID CERTIFIED SURVEY MAP NUMBER 7312 TO A POINT ON A WESTERLY LINE OF RATH LANE; THENCE N00°29'58"W, 84.92 FEET ALONG SAID WESTERN LINE OF RATH LANE TO A PONT ON A NORTHERLY LINE OF SAID RATH LANE; THENCE N89°18'55"E, 67.97 FEET ALONG SAID NORTHERLY LINE OF RATH LANE TO A PONT ON AN EASTERLY LINE OF SAID RATH LANE; THENCE S00°29'58"E, 39.92 FEET ALONG SAID EASTERN LINE OF SAID RATH LANE TO A POINT ON A NORTH LINE OF SAID RATH LANE; THENCE N89°18'55"E, 529.99 FEET ALONG SAID NORTH LINE OF RATH LANE TO THE BEGINNING OF A CURVE TO THE LEFT; THENCE 23.02 FEET ALONG SAID CURVE, ALONG SAID NORTHERLY LINE OF RATH LANE, SAID CURVE HAVING A RADIUS OF 21.00 FEET AND A CHORD BEARING N57055'00"E, 21.88 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT; THENCE 42.91 FEET ALONG SAID CURVE, ALONG SAID NORTHERLY LINE OF RATH LANE, SAID CURVE HAVING A RADIUS OF 49.00 FEET AND A CHORD BEARING N51036'21"E, 41.55 FEET TO A POINT ON A WEST LINE OF RATH LANE; THENCE N00020'06"W, 20.39 FEET ALONG SAID WEST LINE OF RATH LANE TO A POINT ON A NORTH LINE OF SAID RATH LANE; THENCE N89018'55"E, 60.00 FEET ALONG SAID NORTH LINE OF RATH LANE, ALSO BEING A SOUTH LINE OF SAID CERTIFIED SURVEY MAP NUMBER 7312; THENCE N89018'33"E, 138.86 FEET ALONG SAID SOUTH LINE OF CERTIFIED SURVEY MAP NUMBER 7312; THENCE N62031'54"E, 438.65 FEET ALONG SAID SOUTH LINE OF CERTIFIED SURVEY MAP NUMBER 7312; THENCE N61036'01"E, 488.03 FEET ALONG SAID SOUTH LINE OF CERTIFIED SURVEY MAP NUMBER 7312; THENCE S29044'47"E, 405.00 FEET ALONG SAID SOUTH LINE OF CERTIFIED SURVEY MAP NUMBER 7312 TO A POINT ON THE NORTH LINE OF OSHKOSH AVENUE (STATE HIGHWAY 21); THENCE N61028'46"E, 54.58 FEET ALONG SAID NORTH LINE OF OSHKOSH AVENUE (STATE HIGHWAY 21); THENCE S89044'04"E, 261.18 FEET ALONG SAID NORTH LINE OF OSHKOSH AVENUE (STATE HIGHWAY 21) TO A POINT ON THE WEST LINE OF N. EAGLE STREET; THENCE N01013'58"E, 176.59 FEET ALONG SAID WEST LINE OF N. EAGLE STREET TO A POINT ON THE EXTENDED SOUTH LINE OF LOT 80 OF ALGOMA ADDITION; THENCE S89044'04'E, 1,524.35 FEET ALONG THE SOUTH LINES AND EXTENDED SOUTH LINES OF LOTS 80 THROUGH 103 OF SAID ALGOMA ADDITION TO A POINT ON THE EAST LINE OF RAINBOW DRIVE; THENCE S01017'05"W, 149.19 FEET ALONG SAID EAST LINE OF RAINBOW DRIVE TO A POINT ON THE NORTH LINE OF SAID OSHKOSH AVENUE (STATE HIGHWAY 21); THENCE S89029'35"E, 391.01 FEET ALONG SAID NORTH LINE OF OSHKOSH AVENUE TO A POINT ON THE SOUTHWESTERLY SHORE LINE (U.S. HARBOR LINE) OF THE FOX RIVER AS ESTABLISHED BY A GENERAL ORDINANCE OF THE CITY OF OSHKOSH PER DOCUMENT NUMBER 276204, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE S29010'08"E, 72.52 FEET ALONG SAID HARBOR LINE; THENCE S09043'08"E, 390.97 FEET ALONG SAID HARBOR LINE TO A POINT BEING THE POINT OF BEGINNING OF A MEANDER LINE OF SAWYER CREEK; THENCE S82057'18"W, 228.73 FEET ALONG SAID MEANDER LINE; THENCE N84003'06"W, 392.47 FEET ALONG SAID MEANDER LINE; THENCE N27050'20"W, 59.29 FEET ALONG SAID MEANDER LINE; THENCE N56012'12"W, 18.14 FEET ALONG SAID MEANDER LINE TO A POINT ON THE EAST LINE OF N. SAWYER STREET, SAID POINT ALSO BEING THE END OF SAID MEANDER LINE; THENCE N65020'32"W, 87.29 FEET TO A POINT ON THE WEST LINE OF N. SAWYER STREET, SAID POINT ALSO BEING THE BEGINNING OF A MEANDER LINE FOR SAWYER CREEK; THENCE N42002'30"W, 57.10 FEET ALONG SAID MEANDER LINE; THENCE N60026'12"W, 140.36 FEET ALONG SAID MEANDER LINE; THENCE N89001'37"W, 187.08 FEET ALONG SAID MEANDER LINE; THENCE S71032'34"W, 201.71 FEET ALONG SAID MEANDER LINE TO A POINT ON THE EXTENDED WEST LINE OF THE EAST 1/z OF LOT 43 OF SAID ALGOMA ADDITION SAID POINT ALSO BEING THE END OF SAID MEANDER LINE; THENCE N01034'39"E, 199.79 FEET ALONG SAID EXTENDED WEST LINE OF THE EAST 1/z AND WEST LINE OF THE EAST 1/z OF SAID LOT 43 TO A POINT ON THE SOUTH LINE OF SAID OSHKOSH AVENUE (STATE HIGHWAY 21); THENCE N89044'04"W, 299.10 FEET ALONG THE SOUTH LINE AND EXTENDED SOUTH LINE OF OSHKOSH AVENUE (STATE HIGHWAY 21) TO THE SOUTHWEST CORNER OF SAID OSHKOSH AVENUE (STATE HIGHWAY 21) AND PUNHOQUA STREET; THENCE S01046'02"W, 178.89 FEET ALONG THE WEST LINE AND EXTENDED WEST LINE OF PUNHOQUA STREET TO THE NORTHEAST CORNER OF LOT 22 OF SAID ALGOMA ADDITION; THENCE N89055'01"W, 412.52 FEET ALONG THE NORTH LINES OF LOTS 22 THROUGH 29 OF SAID ALGOMA ADDITION TO A POINT ON THE EAST LINE OF N. EAGLE STREET; THENCE S01024'33'W, 336.34 FEET ALONG SAID EAST LINE AND EXTENDED EAST LINE OF N. EAGLE STREET TO A POINT ON THE EXTENDED NORTH LINE OF CERTIFIED SURVEY MAP NUMBER 6739 AS RECORDED AS DOCUMENT NUMBER 1640219 IN VOLUME 1, PAGE 6739, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE S89023'52"W, 547.12 FEET ALONG SAID EXTENDED SOUTH LINE AND SOUTH LINE OF CERTIFIED SURVEY MAP NUMBER 6739 TO A POINT ON THE EAST LINE OF N. WESTFIELD STREET; THENCE N70017'59"W, 112.27 FEET TO A POINT ON THE WEST LINE OF N. WESTFIELD STREET, ALSO BEING THE SOUTHEASTERLY CORNER OF LOT 2 OF SMITH'S ACRES PLAT, RECORDED AS DOCUMENT NUMBER 389866 IN FILE 1 OF PLATS, PAGE 20, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE S63057'22"W, 144.88 FEET ALONG THE SOUTH LINE OF SAID LOT 2 TO THE SOUTHWEST CORNER OF SAID LOT 2; THENCE N25057'18"W, 100.73 FEET ALONG THE WEST LINES OF LOTS 1 AND 2 OF SAID SMITH'S ACRES PLAT TO THE NORTHERNMOST CORNER OF LOT 10 OF THE FIRST ADDITION TO SMITH'S ACRES PLAT, RECORDED AS DOCUMENT NUMBER 447646 IN FILE 1 OF PLATS, PAGES 47 AND 47A, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE S60011'48"W, 119.36 FEET ALONG THE NORTH LINE OF SAID LOT 10 TO A CORNER ON THE EAST LINE OF LOT 2 OF CERTIFIED SURVEY MAP NUMBER 3895 RECORDED AS DOCUMENT NUMBER 994273 IN VOLUME 1, PAGE 3895, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE S01000'41"E, 75.39 FEET ALONG THE EAST LINE OF SAID LOT 2 TO THE SOUTHEAST CORNER OF SAID LOT 2; THENCE N89054'58"W, 34.20 FEET ALONG THE SOUTH LINE OF SAID LOT 2 TO THE SOUTHWEST CORNER OF SAID LOT 2; THENCE N01001'08"W, 41.51 FEET ALONG THE WEST LINE OF SAID LOT 2 TO THE SOUTHEAST CORNER OF LOT 2 OF CERTIFIED SURVEY MAP NUMBER 4327, RECORDED AS DOCUMENT NUMBER 1068549 IN VOLUME 1, PAGE 4327, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE S74019'11"W, 46.93 FEET (RECORDED AS 45.63 FEET) ALONG THE SOUTH LINE OF SAID LOT 2 OF CERTIFIED SURVEY MAP NUMBER 4327; THENCE S79000'59"W, 45.63 FEET ALONG THE SOUTH LINE OF SAID LOT 2 OF CERTIFIED SURVEY MAP NUMBER 4327 TO THE SOUTHWEST CORNER OF SAID LOT 2 OF CERTIFIED SURVEY MAP NUMBER 4327; THENCE S75026'42"W, 33.95 FEET ALONG A NORTH LINE OF LOT 1 OF SAID CERTIFIED SURVEY MAP NUMBER 4327 TO A NORTHEASTERN CORNER OF SAID LOT 1 OF CERTIFIED SURVEY MAP NUMBER 4327; THENCE S01027'36"E, 56.62 FEET ALONG A WEST LINE OF SAID LOT 1 TO A SOUTHWEST CORNER OF SAID LOT 1 OF CERTIFIED SURVEY MAP NUMBER 4327, ALSO BEING A POINT ON THE NORTH LINE OF LOT 7 OF RUSCH AND HOEGH SUBDIVISION, RECORDED AS DOCUMENT NUMBER 495171 IN FILE 1 OF PLATS, PAGES 79 AND 79A, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE S64025'06"W, 116.72 FEET ALONG LOTS 7 AND 6 OF SAID RUSCH AND HOEGH SUBDIVISION TO THE SOUTHEAST CORNER OF LOT 5 OF SAID RUSCH AND HOEGH SUBDIVISION; THENCE S80019'14"W, 160.79 FEET ALONG THE SOUTH LINE OF SAID LOT 5 TO THE SOUTHWEST CORNER OF SAID LOT 5; THENCE S00006'15'E, 175.01 FEET ALONG THE WEST LINE OF LOTS 4,3 AND 2 OF SAID RUSCH AND HOEGH SUBDIVISION TO THE NORTHEAST CORNER OF LOT 1 OF WESTFIELD HEIGHTS, RECORDED AS DOCUMENT NUMBER 762575 IN FILE 2 OF PLATS, PAGES 95 AND 95A, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE S89028'06"W, 90.00 FEET ALONG THE NORTH LINE OF SAID LOT 1 OF WESTFIELD HEIGHTS TO THE NORTHWEST CORNER OF SAID LOT 1 OF WESTFIELD HEIGHTS, ALSO BEING A POINT ON THE EAST LINE OF LOT 2 OF CERTIFIED SURVEY MAP NUMBER 2376, RECORDED AS DOCUMENT NUMBER 770177 IN VOLUME 1, PAGE 2376, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE S00006'13"E, 111.61 FEET ALONG SAID EAST LINE OF LOT 2 OF CERTIFIED SURVEY MAP NUMBER 2376 TO A POINT ON THE NORTH LINE OF LAURIE AVENUE, ALSO BEING THE START OF A CURVE TO THE RIGHT; THENCE 85.22 FEET ALONG SAID CURVE, ALONG SAID NORTHERLY LINE OF LAURIE AVENUE, SAID CURVE HAVING A RADIUS OF 50.00 FEET AND A CHORD BEARING S25059'59.5W", 75.27 FEET TO A SOUTHEAST CORNER OF SAID LOT 2 OF CERTIFIED SURVEY MAP NUMBER 2376; THENCE S89028'06"W, 128.54 FEET (RECORDED AS 129.35 FEET) ALONG THE SOUTH LINE OF SAID LOT 2 OF CERTIFIED SURVEY MAP NUMBER 2376 TO THE SOUTHWEST CORNER OF SAID LOT 2 OF CERTIFIED SURVEY MAP NUMBER 2376; THENCE N00034'07"W, 141.50 FEET ALONG THE WEST LINE OF SAID LOT 2 OF CERTIFIED SURVEY MAP NUMBER 2376; THENCE S86032'42"W, 75.56 FEET TO A POINT ON THE EAST LINE OF CERTIFIED SURVEY MAP NUMBER 1999, RECORDED AS DOCUMENT NUMBER 721221 IN VOLUME 1, PAGE 1999, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE S03026'50"E, 119.38 FEET ALONG SAID EAST LINE OF CERTIFIED SURVEY MAP NUMBER 1999; THENCE S00028'53"E, 20.36 FEET ALONG SAID EAST LINE OF CERTIFIED SURVEY MAP NUMBER 1999 TO A POINT ON THE SOUTH LINE OF SAID CERTIFIED SURVEY MAP NUMBER 1999; THENCE S89019'31"W, 69.97 FEET ALONG SAID SOUTH LINE OF CERTIFIED SURVEY MAP NUMBER 1999 TO THE SOUTHWEST CORNER OF SAID CERTIFIED SURVEY MAP NUMBER 1999, ALSO BEING THE SOUTHEAST CORNER OF CERTIFIED SURVEY MAP NUMBER 2810, RECORDED AS DOCUMENT NUMBER 854945 IN VOLUME 1, PAGE 2810, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE S89005'53"W, 85.64 FEET (RECORDED AS 85.50 FEET) ALONG THE SOUTH LINE OF SAID CERTIFIED SURVEY MAP NUMBER 2810 TO THE SOUTHWEST CORNER OF SAID CERTIFIED SURVEY MAP NUMBER 2810; THENCE N00043'42"W, 16.02 FEET ALONG THE WEST LINE OF SAID CERTIFIED SURVEY MAP NUMBER 2810 TO THE NORTHEAST CORNER OF LOT 2 OF CERTIFIED SURVEY MAP NUMBER 2251, RECORDED AS DOCUMENT NUMBER 753019 IN VOLUME 1, PAGE 2251, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE S61037'19"W, 64.00 FEET ALONG THE NORTH LINE OF SAID CERTIFIED SURVEY MAP NUMBER 2251 TO THE SOUTHEAST CORNER OF LOT 1 OF SAID CERTIFIED SURVEY MAP NUMBER 2251; THENCE N89036'08"W, 125.47 FEET ALONG THE SOUTH LINE OF SAID CERTIFIED SURVEY MAP NUMBER 2251 TO A POINT ON THE EAST LINE OF LOT 2 OF CERTIFIED SURVEY MAP NUMBER 1222, RECORDED AS DOCUMENT NUMBER 608318 IN VOLUME 1, PAGE 1222, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE S00019'51"E, 77.40 FEET ALONG SAID EAST LINE OF LOT 2 OF CERTIFIED SURVEY MAP NUMBER 1222 TO THE SOUTHEAST CORNER OF SAID LOT 2 OF CERTIFIED SURVEY MAP NUMBER 1222, ALSO BEING A POINT ON THE WEST LINE OF SAID LOT 2 OF CERTIFIED SURVEY MAP NUMBER 2251; THENCE S00010'10"E, 675.65 FEET ALONG SAID WEST LINE AND EXTENDED WEST LINE OF CERTIFIED SURVEY MAP NUMBER 2251 TO A POINT ON THE NORTH LINE OF ROBIN AVENUE; THENCE S89037'59"E, 243.84 FEET ALONG SAID NORTH LINE OF ROBIN AVENUE TO A POINT ON THE EXTENDED EAST LINE OF TAX PARCEL NUMBER 16-0870-01-01 AS DESCRIBED IN DOCUMENT NUMBER 1751951, WINNEBAGO COUNTY REGISTER OF DEEDS; THENCE S00021'37"E, 617.73 FEET ALONG THE EXTENDED EAST LINE AND EAST LINE OF SAID TAX PARCEL NUMBER 16-0870-01-01 TO A POINT ON A SOUTH LINE OF SAID TAX PARCEL NUMBER 16-0870-01-01; THENCE S71050'00"W, 708.63 FEET ALONG SAID SOUTH LINE OF TAX PARCEL NUMBER 16-0870-01-01; THENCE S89034'58"W, 224.97 FEET ALONG SAID SOUTH LINE AND EXTENDED SOUTH LINE OF TAX PARCEL NUMBER 16-0870-01- 01 TO A POINT ON THE WEST LINE OF SAID SECTION 15, TOWNSHIP 18 NORTH, RANGE 16 EAST; THENCE N00°25'02"W, 2,149.05 FEET ALONG SAID WEST LINE TO THE POINT OF BEGINNING. DESCRIBED AREA CONTAINS 4,300,509 SQUARE FEET OR 98.726 ACRES, MORE OR LESS, INCLUDING ALL LANDS BETWEEN DESCRIBED MEANDER LINES AND THE NORTH SHORE OF SAWYER CREEK. 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 Project's economic benefits which include: an estimated $28.5 million increase in property valuation; construction jobs; retail, service and professional jobs; expansion of available retail and commercial services; improvement of vehicular traffic flow and pedestrian safety along a gateway corridor providing access to the Central City from the interstate, and provision of the necessary infrastructure needed to accommodate construction of Oshkosh Corporation's global headquarters to the immediate north. The benefits of the proposal outweigh the anticipated tax increments to be paid by the owners of property in the overlying taxing jurisdictions. As required by Wis. Stat. § 66.1105(4)(1)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 prepared and can be found in Appendix A of this plan. However, because the Project would not occur without the use of tax incremental financing, these tax increments would not be paid but for creation of the District. Accordingly, the City finds that the benefits expected to be realized as set forth above outweigh the value of the tax increments to be invested in the Project. 4. Not less than 50% by area of the real property within the District is in need of conservation or rehabilitation within the meaning of Wis. Stat. § 66.1337(2m)(a). Based upon the findings, as stated above, the District is declared to be a district in need of rehabilitation or conservation based on the identification and classification of the property included within the District. 6. The Project Costs relate directly to the rehabilitation or conservation of property in the District 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. 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 Wis. Stat. § 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. 35 Creation City of Oshkosh Prepared by Ehlers Page 5 December 28, 2017 SECTION 2: Type and General Description of District Located generally along Oshkosh Avenue between Interstate 41 and the Fox River, this 65.56 -acre District is being created by the City under the authority provided by Wis. Stat. § 66.1105 and will be classified as a district in need of rehabilitation or conservation based on a finding that at least 50%, by area, of the real property within the District is in need of conservation or rehabilitation within the meaning of Wis. Stat. § 66.1337(2m)(a). Creation of the District will provide the means to pay the costs of public infrastructure needed to facilitate redevelopment along this corridor that is expected to occur because of the construction of Oshkosh Corporation's new global headquarters on a portion of the Lakeshore Municipal Golf Course to the immediate north of the District. The Project Costs included in this Plan relate directly to the rehabilitation or conservation or property consistent with the purpose for which the District is created. Project Plan TID No. 35 Creation City of Oshkosh Prepared by Ehlers Page 6 December 28, 2017 SECTION 3 - Preliminary Maps of Proposed District Boundary LU z U) ly KI Tax Increment District #35 /7 Oshkosh Avenue Corridor Rehabilitation o,WW District Boundary Oshkosh Y- Legend PA TID #35 Boundary —�yC m 10r] quo aaa ana eoo ia 13 C Data: ihacdw, FN Pa a a� y a.. - � Mi 14 9 Project Plan TID No. 35 Creation City of Oshkosh Prepared by Ehlers Page 7 December 28, 2017 N Tax Increment District #35 OA% IN-( E Oshkosh Avenue Corridor Rehabilitation 01e' Ol Parcel Identification Map I Oshkosh 22 14 21 2'.) 19 13 VAIH M PXTH L" 17 12 23 U 7 2 FH 6 26 26 14 2 27 - 11 2y \ FA)P4 ANT 30 u5 i�nwr d+e+Mr 31 4k 32 34 �15 36 ti 13 I 43 1-7) riyIII i Legend ED TIS 435 Boundary 4UU 14 it P, Project Plan TID No. 35 Creation City of Oshkosh Prepared by Ehlers Page 8 December 28, 2017 Tax Increment District #35 utiE Oshkosh Avenue Corridor Rehabilitation cso,V 5 Parcel Identification Map 2 Oshkosh L—CATHERINE -AVE. —1 °w f I�� -]' - 45 .47 48. 11 1" si 62 63. .: a� OSHKOSH - YE fig 74� MAPLE AVE - r ,Z --- _ BUtHANAN A I C7e,4P OSHKOSH AVE - 96 fIttNt®RE AVE. -----31JCHAHAhTAVE. - — Legend -Tlb #35 Boundary _ 9 5u IOU 200 aL: PwC --- [nte-thumby, Hav bw Sri, 201 Project Plan TID No. 35 Creation City of Oshkosh Prepared by Ehlers Page 9 December 28, 2017 SECTION 4 - Maps Showing Existing Uses and Conditions LU Tax Increment District #35 _ Oshkosh Avenue Corridor Rehabilitation of z Existing Land Use Oshkosh Existing Land Use EDTIO 935 Boundary ® Institutional Commercial © 100200 aao 900 School SF & TF Residential � o� N F t LJ 1 L1 Mixed -Use ® MF Residential - 5 `y �� • LJa!TnTsdw.*no ter za.2osr Vacant Land Parks & Recreation 11 �� �iT'�� ��--- * ;• - -" �I �Crh1 f - TT i. R RL L4 I I aFM t •! • I 7 1 - —_.. s '� � • �' d — 44 lal. a;ucavnr r., i ■ • u•I TD F, tr fry r= 435 ,,•�" OF I Project Plan TID No. 35 Creation City of Oshkosh Prepared by Ehlers Page 10 December 28, 2017 Ld Tax Increment district #35 - N Oshkosh Avenue Corridor Rehabilitation _ :.` Existing Zoning Oshkosh Zone Districts 1 NMU: Neighborhood Mixed -Use Y ,eY _ RMU: Riverfront Mixed -Use . _ SMU: Suburban Mixed -Use UM U: Urban Mixed -Use � P 1: institution . RAA - SR -2: Single-Farnily Residential - 2 SR -S: Single Family Residential -5 SR -9: Single Family Residential - 9 M R-12: Multi -Family Reside n tial - 12 M R-20: M inti -Family Residential - 20 PD: Planned Development C)veriay MR;12 Legend ismTi0 #35 Boundary ,uu 20 1WJ euu wo Fast _ �-- Uofw: Thurx�alNvv�rnbvP 30,17 R s W01 sMu111 MR -20 — �Jj SMU _SMf1- r.rXtn�Sli No ai souna_nwu _ _ - -- ';�5NA43Fl�'� i 1 A15[)N, _109 Project Plan TID No. 35 Creation City of Oshkosh Prepared by Ehlers Page 11 December 28, 2017 Tax Increment District #35 ^A Oshkosh Avenue Corridor Rehabilitation Existing Conditions Oshkosh — 11 1P No. Legend I Ile an Legend --.M00% psi� trh_il� W_ [%;! M TID #35 Boundary Wvley 01 M Sites in need of Uu Rehabilitatlon/Conservalion 21.x°°.0 100 2w 400 6D6 sw Fast 1w160 cam 81 �'112017 J L'. 111401 Jb fill a a g, mssM71=_KwtT1 I I Wal F1; 1 20091 lig p M Project Plan TID No. 35 Creation City of Oshkosh Prepared by Ehlers Page 12 December 28, 2017 SECTION 5: Preliminary Parcel List and Analysis City of Oshkosh, Increment District # 35 Parcels 1 - 50 PropertyTax Base Property Information Assessment Information Equalized Value District Classification In Need of Map Ref Parcel Equalized Conservation or # Number Street Address Acreage Land Imp Total Value Ratio Land Imp Total Rehabilitation 1 1610980000 1886 RATH LN 1.971 343,900 3,550,800 3,894,700 98.14% 350,418 3,618,097 3,968,514 1.971 2 1610970000 1930 RATH LN 0.969 169,000 657,600 826,600 98.14% 172,203 670,063 842,266 0.969 3 1610900000 0 RATH LN 0.203 14,800 12,000 26,800 98.14% 15,080 12,227 27,308 4 1610940000 0OSHKOSH AVE 0.294 15,000 10,800 25,800 98.14% 15,284 11,005 26,289 5 1610870900 0OMRO RD 0.458 24,700 0 24,700 98.14% 25,168 0 25,168 6 1610870800 1874 OSHKOSH AVE 1.192 39,600 93,900 133,500 98.14% 40,351 95,680 136,030 1.192 7 1610870600 1870 OSHKOSH AVE 1.434 196,700 403,100 599,800 98.14% 200,428 410,740 611,168 8 1610870401 0OSHKOSH AVE 0.387 19,200 0 19,200 98.14% 19,564 0 19,564 9 1610870301 1844 OSHKOSH AVE 0.912 32,000 78,900 110,900 98.14% 32,606 80,395 113,002 0.912 10 1610870201 1820 OSHKOSH AVE 0.564 25,300 108,300 133,600 98.14% 25,779 110,353 136,132 0.564 11 1610870500 0 OSHKOSH AVE 0.091 0 0 0 98.14% 0 0 0 12 1610870000 1810 OSHKOSH AVE 2.187 261,500 599,700 861,200 98.14% 266,456 611,066 877,522 2.187 13 1608560100 1750 OSHKOSH AVE 0.492 32,600 112,900 145,500 98.14% 33,218 115,040 148,258 0.492 14 1608560000 1746 OSHKOSH AVE 0.200 14,600 57,000 71,600 98.14% 14,877 58,080 72,957 0.200 15 1608550000 1732 OSHKOSH AVE 0.750 38,500 50,600 89,100 98.14% 39,230 51,559 90,789 0.750 16 1608540000 0 OSHKOSH AVE 0.995 33,200 0 33,200 98.14% 33,829 0 33,829 17 1608530000 1714 OSHKOSH AVE 0.172 13,600 65,200 78,800 98.14% 13,858 66,436 80,293 0.172 18 1608520000 0OSHKOSH AVE 1.830 49,200 0 49,200 98.14% 50,132 0 50,132 19 1608510000 0OSHKOSH AVE 1.506 40,100 0 40,100 98.14% 40,860 0 40,860 20 1608500000 1634 OSHKOSH AVE 1.004 33,400 82,400 115,800 98.14% 34,033 83,962 117,995 1.004 21 1608490000 1620 OSHKOSH AVE 1.004 33,400 86,200 119,600 98.14% 34,033 87,834 121,867 1.004 22 1608480000 1610 OSHKOSH AVE 1.004 33,400 78.,100 111,500 98.14% 34,033 79,580 113,613 1.004 23 1608600000 1260 N WESTFIELD ST 6.335 0 0 0 98.14% 0 0 0 24 1611800000 1705 OSHKOSH AVE 0.751 29,500 140,200 169,700 98.14% 30,059 142,857 172,916 0.751 25 1608610100 1719 OSHKOSH AVE 0.193 14,500 58,500 73,000 98.14% 14,775 59,609 74,384 0.193 26 1608620000 1725 OSHKOSH AVE 0.193 14,500 64,700 79,200 98.14% 14,775 65,926 80,701 0.193 27 1608590000 1731 OSHKOSH AVE 0.219 15,300 49,900 65,200 98.14% 15,590 50,846 66,436 0.219 28 1608590100 1735 OSHKOSH AVE 0.236 16,000 80,000 96,000 98.14% 16,303 81,516 97,819 0.236 29 1608580200 1743 OSHKOSH AVE 0.152 11,900 81,200 93.,100 98.14% 12,126 82,739 94,864 0.152 30 1608580000 1803 OSHKOSH AVE 0.407 22,700 65,200 87,900 98.14% 23,130 66,436 89,566 0.407 31 1612590000 1811 OSHKOSH AVE 0.528 27,500 81,800 109,300 98.14% 28,021 83,350 111,372 0.528 32 1611700000 1815 OSHKOSH AVE 0.570 25,500 98,600 124,100 98.14% 25,983 100,469 126,452 0.570 33 1611690000 1817 OSHKOSH AVE 1.080 36,900 76,300 113,200 98.14% 37,599 77,746 115,345 1.080 34 1611680000 1823 OSHKOSH AVE 0.329 19,700 66,200 85,900 98.14% 20,073 67,455 87,528 0.329 35 1611670000 1845 OSHKOSH AVE 0.340 20,100 109,200 129,300 98.14% 20,481 111,270 131,751 0.340 36 1611660000 1849 OSHKOSH AVE 0.503 26,500 63,600 90,100 98.14% 27,002 64,805 91,808 0.503 37 1611650000 1194 N KOELLER ST 0.504 26,500 80,900 107,400 98.14% 27,002 82,433 109,436 0.504 38 1611640000 1184 N KOELLER ST 0.256 16,800 72,600 89,400 98.14% 17,118 73,976 91,094 0.256 39 1611630000 1178 N KOELLER ST 0.425 23,500 90,300 113,800 98.14% 23,945 92,011 115,957 0.425 40 1611620100 1170 N KOELLER ST 0.295 18,300 90,300 108,600 98.14% 18,647 92,011 110,658 0.295 41 1611620000 1164 N KOELLER ST 0.152 11,900 60,400 72,300 98.14% 12,126 61,545 73,670 0.152 42 1611550000 0OSHKOSH AVE 1.716 52,900 0 52,900 98.14% 53,903 0 53,903 43 1611590000 1062 N KOELLER ST 7.790 0 0 0 98.14% 0 0 0 7.790 44 1608700101 900 N KOELLER ST 10.760 1,146,300 802,100 1,948,400 98.14% 1,168,025 817,302 1,985,327 10.760 45 1600550000 1412 N EAGLE ST 0.126 14,500 86,700 101,200 98.14% 14,775 88,343 103,118 0.126 46 1600540000 1536 OSHKOSH AVE 0.168 10,700 67,500 78,200 98.14% 10,903 68,779 79,682 0.168 47 1600530000 1530 OSHKOSH AVE 0.252 16,600 75,200 91,800 98.14% 16,915 76,625 93,540 0.252 48 1600520000 1522 OSHKOSH AVE 0.378 21,500 38,400 59,900 98.14% 21,907 39,128 61,035 0.378 49 1600510200 1512 OSHKOSH AVE 0.180 13,900 86,700 100,600 98.14% 14,163 88,343 102,507 50 1600510100 1508 OSHKOSH AVE 0.180 13,900 86,700 100,600 98.14% 14,163 88,343 102,507 Project Plan TID No. 35 Creation City of Oshkosh Prepared by Ehlers Page 13 December 28, 2017 City of Oshkosh, PropertyBase :. PropertyBase Property Information Assessment Information Equalized Value District Classification In Need of Map Ref Parcel Equalized Conservation or # Number Street Address Acreage Land Imp Total Value Ratio Land Imp Total Rehabilitation 51 1600500000 1502 OSHKOSH AVE 0.205 12,100 48,700 60,800 98.14% 12,329 49,623 61,952 0.205 52 1600490000 0 OSHKOSH AVE 0.126 1,000 0 1,000 98.14% 1,019 0 1,019 53 1600480000 1414 OSHKOSH AVE 0.237 16,000 101,700 117,700 98.14% 16,303 103,627 119,931 54 1600470000 1406 OSHKOSH AVE 0.196 14,400 73,400 87,800 98.14% 14,673 74,791 89,464 0.196 55 1600460000 1402 OSHKOSH AVE 0.187 28,200 37,300 65,500 98.14% 28,734 38,007 66,741 0.187 56 1600430000 1320 OSHKOSH AVE 0.541 81,200 98,400 179,600 98.14% 82,739 100,265 183,004 0.541 57 1600420000 1306 OSHKOSH AVE 0.327 57,000 217,800 274,800 98.14% 58,080 221,928 280,008 0.327 58 1600410000 0FOX ST 0.059 4,400 0 4,400 98.14% 4,483 0 4,483 59 1600390000 0 OSHKOSH AVE 0.144 21,700 0 21,700 98.14% 22,111 0 22,111 0.144 60 1600380000 1236 OSHKOSH AVE 0.121 18,100 9,900 28,000 98.14% 18,443 10,088 28,531 0.121 61 1600370000 0 OSHKOSH AVE 0.121 18,100 0 18,100 98.14% 18,443 0 18,443 0.121 62 1600360000 1226 OSHKOSH AVE 0.180 27,100 103,500 130,600 98.14% 27,614 105,462 133,075 0.180 63 1610980000 0 OSHKOSH AVE 0.180 0 0 0 98.14% 0 0 0 64 1610970000 1218 OSHKOSH AVE 0.180 0 0 0 98.14% 0 0 0 65 1610900000 1212 OSHKOSH AVE 0.090 0 0 0 98.14% 0 0 0 66 1610940000 1208 OSHKOSH AVE 0.266 0 0 0 98.14% 0 0 0 67 1610870900 1415 RAINBOW DR 0.046 6,000 28,900 34,900 98.14% 6,114 29,448 35,561 68 1610870800 1202 OSHKOSH AVE 0.160 29,600 90,000 119,600 98.14% 30,161 91,706 121,867 69 1610870600 1539 OSHKOSH AVE 0.421 18,900 57,700 76,600 98.14% 19,258 58,794 78,052 0.421 70 1610870401 1529 OSHKOSH AVE 0.270 17,300 61,200 78,500 98.14% 17,628 62,360 79,988 0.270 71 1610870301 1519 OSHKOSH AVE 0.270 17,300 122,700 140,000 98.14% 17,628 125,025 142,653 72 1610870201 1513 OSHKOSH AVE 0.270 17,300 51,700 69,000 98.14% 17,628 52,680 70,308 0.270 73 1610870500 1503 OSHKOSH AVE 0.183 11,800 61,800 73,600 98.14% 12,024 62,971 74,995 0.183 74 1610870000 1321 PU N HOQU A ST 0.113 13,000 97,800 110,800 98.14% 13,246 99,654 112,900 75 1608560100 1325 OSHKOSH AVE 0.257 26,200 148,100 174,300 98.14% 26,697 150,907 177,603 0.257 76 1608560000 1319 OSHKOSH AVE 0.329 31,900 109,300 141,200 98.14% 32,505 111,372 143,876 0.329 77 1608550000 1313 OSHKOSH AVE 0.147 17,700 92,300 110,000 98.14% 18,035 94,049 112,085 0.147 78 1608540000 1309 OSHKOSH AVE 0.152 18,900 69,400 88,300 98.14% 19,258 70,715 89,974 0.152 79 1608530000 1301 OSHKOSH AVE 0.137 13,700 55,800 69,500 98.14% 13,960 56,858 70,817 0.137 80 1608520000 1221 OSHKOSH AVE 0.127 13,100 110,900 124,000 98.14% 13,348 113,002 126,350 0.127 81 1608510000 1217 OSHKOSH AVE 0.127 13,100 49,700 62,800 98.14% 13,348 50,642 63,990 0.127 82 1608500000 1211 OSHKOSH AVE 0.127 13,100 48,200 61,300 98.14% 13,348 49,114 62,462 0.127 83 1608490000 1203 OSHKOSH AVE 0.101 10,200 68;500 78,700 98.14% 10,393 69,798 80,192 0.101 84 1608480000 0 OSHKOSH AVE 0.059 0 0 0 98.14% 0 0 0 85 1608600000 O N SAWYER ST 0.330 0 0 0 98.14% 0 0 0 86 1611800000 1300 N SAWYER ST 4.140 0 0 3,720,000 10,735,400 14,455,400 3,790,503 10,938,863 43.6953 66.65 14,729,366 Project Plan TID No. 35 Creation City of Oshkosh Prepared by Ehlers Page 14 December 28, 2017 SECTION 6: Equalized Value Test The following calculations demonstrate that the City expects to be in compliance with Wis. Stats. § 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 $292,049,166. This value is less than the maximum of $471,813,384 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 Date 1/23/2018 Valuation Data Percent Valuation Data Currently Available Change Est. Creation Date 2017 Total EV (TID In) 3,931,778,200 3,931,778,200 12% Test 471,813,384 471,813,384 I ncrement of Existing TI Ds 277,319,800 277,319,800 Total Existing Increment 277,319,800 277,319,800 Projected Base of New District 14,729,366 0.00% 14,729,366 Total Value Subject to 12% Test 292,049,166 292,049,166 Compliance Project Plan TID No. 35 Creation City of Oshkosh Prepared by Ehlers Page 15 December 28, 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 as outlined in this Plan. Project Costs will be diminished by any income, special assessments or other revenues, including user fees or charges. If Project Costs incurred benefit territory outside the District, a 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, design and construction is completed. 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. The following is a list of public works and other tax incremental financing eligible projects that the City expects to make, or may need to make, in conjunction with the implementation of the District's Plan. The map found in Section 8 of this Plan along with the Detailed List of Project Costs found in Section 9 provide additional information as to the kind, number and location of potential Project Costs. Right -of -Way and Easement Acquisition Acquisition of Rights -of -Way The City will 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 will 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 Acquisition of rights of way or easements necessary for extension of streets may require payment of relocation costs. Should relocation costs apply, these expenses are eligible Project Costs and 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 Wis. Stat. Chapter 32 and Wis. Admin. Code ADM 92. Site Preparation Activities Environmental Audits and Remediation If it becomes necessary to evaluate any land or improvement within the District, any cost incurred by the City related to environmental audits, testing, and remediation are eligible Project Costs. Project Plan TID No. 35 Creation City of Oshkosh Prepared by Ehlers Page 16 December 28, 2017 Demolition 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, 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 the District. To allow development to occur, the City will need to construct, alter, rebuild or expand sanitary sewer infrastructure within and outside of 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; pumping stations; lift stations; wastewater treatment facilities; 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 the District. To allow development to occur, the City will 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; pumping stations; wells; water treatment facilities; storage tanks and reservoirs; 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 To manage stormwater runoff, the City will 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; ditches; culvert pipes; box culverts; bridges; stabilization of stream and river banks; and 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 Project Plan TID No. 35 Creation City of Oshkosh Prepared by Ehlers Page 17 December 28, 2017 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. Electric Service To create sites suitable for development the City may incur costs to provide, relocate or upgrade electric services. Relocation may require abandonment and removal of existing poles or towers, or installation of new poles or towers. Costs incurred by the City to undertake this work are eligible Project Costs. Gas Service To create sites suitable for development the City may incur costs to provide, relocate or upgrade gas mains and services. Costs incurred by the City to undertake this work are eligible Project Costs. Communications Infrastructure To create sites suitable for development the City may incur costs to provide, relocate or upgrade infrastructure required for voice and data communications, including, but not limited to: telephone lines, cable lines and fiber optic cable. Costs incurred by the City to undertake this work are eligible Project Costs. Burying Overhead Lines To attract and promote and support redevelopment and rehabilitation of sites within the district and consistent with the objectives of this Plan, the City may undertake the burial or movement of overhead utilities (i.e. phone, cable, electric, etc.) currently located within the project area or within '/z mile of the project area. Undergrounding may include upgrading of existing services in the project area or within '/2 mile of the project area to accommodate the new service. Costs incurred by the City to undertake this work are eligible Project Costs. Streets and Streetscape Street Improvements There are inadequate street improvements serving areas of the District. To allow development to occur, the City may need to construct or reconstruct streets, highways, 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, box culverts and bridges; rail crossings and 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. Costs incurred by the City for street improvements are eligible Project Costs. Streetscaping and Landscaping To attract and promote redevelopment and rehabilitation of existing sites within the district 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, tree rings, trash receptacles and similar items; and installation of decorative walks, terraces and street crossings. These and any other similar amenities installed by the City are eligible Project Costs. Project Plan TID No. 35 Creation City of Oshkosh Prepared by Ehlers Page 18 December 28, 2017 Redevelopment Authority (RDA) Activities Contribution to Redevelopment Authority As provided for in Wis. Stats. § 66.1105(2)(f)I.h 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. Facade/Building/Site Improvement 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 residential and commercial property owners in the District where modernization of older buildings and sites present significant challenges and costs. 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 or correct safety deficiencies. Eligible costs may include but are not limited to new exterior paint or siding, roofing, awnings, windows, masonry work, plumbing, electrical, and structural improvements that improve a building's market value. This program may also assist property owners in the neighborhoods within or immediately joining the District to make external and internal repairs and improvements to their properties in order to maintain the safety, health, and livability of the neighborhood and district. Loan and/or matching grant recipients will be required to sign an agreement specifying the nature of the property improvements to be made. 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. Miscellaneous Projects Outside the Tax Increment District Pursuant to Wis. Stat. § 66.1105(2)(f) I.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 as identified on the Proposed Improvements Map included in Section 8 of this Plan: • Construction of trails currently undetermined as to specific location that would connect properties in the District and within '/2 mile of the District to the Riverfront trail. • Extensions of N. Sawyer Street, N. Westfield Street, N. Koeller Street and Rath Lane, portions of which will lie outside of the District's boundaries. • Construction of a regional stormwater pond. • Relocation or burying of overhead lines (i.e. phone, electric, cable, etc.). • Loans or grants for facade, building and site improvements. Project Plan TID No. 35 Creation City of Oshkosh Prepared by Ehlers Page 19 December 28, 2017 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. Project Plan TID No. 35 Creation City of Oshkosh Prepared by Ehlers Page 20 December 28, 2017 SECTION 8 - Map Showing Proposed Improvements and Uses LU Tax Increment District #35 Oshkosh Avenue Corridor Rehabilitation -1 Proposed Improvements Oshkosh .., e_ Iritersection V ImprovementAn. 0 O'hkosh,AVe. & H Or St. <; --- - s District -Wide_ - -- N. Sawyer Street fevolvingl Lloprti/ _I Get:�rit- Pi°o q rarrr=- - 11 Ll Street Extension, Streets aping, . —T Public ilities — i :Oshkosh Avenue s — reef Movements - S 1- _ { i teetscaping 2 & a� dsc in Oshkosh Ave. rgn` - F -- - Trail=rnG esr Bury Overhead Utilities f - e . System Intersection _ • Trail i * '± Improvements • " System -*„ -- Oshkosh.Ave. e _9 N{ Westfield St. 41 N. Westfield Street MT Street Extension, =i + ---- --s�- --- - Streetscaping, ;';I Public Utilities - IwroL.ca Regional Storm Intersection �_.-_:i Water Pond >~="~` Improvements) — -- . f ■ .; f Oshkosh Ave. Water Quality Treatment Options ,i _ _: +.; '� N. 14oeller5t.' N. Koeller Street Street Extension, Streetscaping, •.- Public Utilities - = Oshkosh Aire. I 1 Bury( Oye ea q! Utitrt.ies - Legend I -- 3TID *35 Boundary - �nw iy nwr 81 RORIM"4D VS nwr a:97Vsn60 LNO 0 100200 4110 600 NO usnwr 41 SOlf MOLD Feet Dofe Tic .y. December 14, 2017 AVVA&KUi n wrF+� ss Project Plan TID No. 35 Creation City of Oshkosh Prepared by Ehlers Page 21 December 28, 2017 Tax Increment district #35 CA & Oshkosh Avenue Corridor Rehabilitation --4.W Proposed Land Use Oshkosh Existing Land Use TO #35 Boundary Institutional F-7 Commercial G 100 200 400 600 School SF & TF Residential Feet Mixed -Use MF Residential Dalr; Th -,,day. EEO Vacant Land Parks 2. Recreot[on "Fam.ISII 11 41] 41F 13 G r Mr LIE • ----T --- U TID #35 1+ —4— 7�- 177 01 .. �'ullllJllllllll� 10 W-IV4, I. I M F1 Project Plan TID No. 35 Creation City of Oshkosh Prepared by Ehlers Page 22 December 28, 2017 SECTION 9: Detailed List of Project Costs The following list identifies the Project Costs that the City currently expects to incur in implementing the District's Plan. All projects identified and related costs reflect the best estimates available as of the date of preparation of this Plan. All costs are preliminary estimates and may increase or decrease. Certain Project Costs listed may become unnecessary, and other Project Costs not currently identified may need to be made. (Section 7 details the general categories of eligible Project Costs). Changes in Project Cost totals or the types of Project Costs to be incurred will not require that this Plan be amended. This Plan is not meant to be a budget nor an appropriation of funds for specific Project Costs, but a framework within which to manage Project Costs. Project Cost Estimates Project Project Name/Type Funding Total Cost ID Period 1 N. Westfield St. Extension & Intersection Improvements 2018 $ 848,292 2 Koeller St. Extension & Intersection Improvements 2018 $ 391,420 3 Storm Sewer for Koeller, Westfield and Outfall 2018 $ 776,000 4 Storm Sewer Relay For Rath 2018 $ 147,000 5 Storm Sewer Relay Within Former Golf Course 2018 $ 187,000 6 2.7 Acre Regional Water Quantity and Quality Detention Facility 2018 $ 1,138,000 7 Traffic Impact Analysis 2018 $ 25,000 8 Streetscaping & Landscaping 2018 $ 100,000 9 Environmental Contingency 2018 $ 351,900 10 Sawyer Street Intersection Improvements & Extension 2026 $ 5,797,300 11 5%Contingencyon Project ID Lines 1- 10 2018& 2026 $ 488,100 12 Revolving Loan & Grant Program 2021-2039 $ 1,567,371 13 Administrative Cost 2032-2039 $ 436,753 Subtotal Project Costs $12,254,136 Less Cash on Handl Sewer Enterprise Fund $ (348,700) Total Project Costs Net of Cash on Hand $11,905,436 Paid From Future Tax Increments $ (3,279,124) Balance to be Financed $ 8,626,312 Notes: 1Cost estimates for pub i c infrastructure I i ne items provided by City staff. Development incentives per draft development agreement. 2Cash on hand is unspent proceeds from prior year borrowings as a result of lower bid prices and deferred projects. Project Plan TID No. 35 Creation City of Oshkosh Prepared by Ehlers Page 23 December 28, 2017 SECTION 10: Economic Feasibility Study, Financing Methods, and the Time When Costs or Monetary Obligations Related are to be Incurred This Section includes a forecast of the valuation increases expected within the District, the associated tax increment collections, a summary of how Project Costs would be financed, and a projected cash flow demonstrating that the District is economically feasible. Key Assumptions For purposes of the Plan, it is assumed that the redevelopment expected to occur as part of the Project will result in the creation of $28.5 million in incremental value by January 1, 2021. The redevelopment projects, assumed valuations and timing are included in Table 1. Assuming the $28.5 million valuation as a constant, and the City's current equalized TID Interim tax rate of $26.30 per thousand of equalized value, the Project would generate $19,202,307 in incremental tax revenue over the 27 -year term of the District as shown in Table 2. Table 1— Development Assumptions Project Plan TID No. 35 Creation City of Oshkosh Prepared by Ehlers Page 24 December 28, 2017 City of Oshkosh, Increment District# 35 DevelopmentTax . . Construction Vear Actual Hotel ConStore nce Off ice Building Restaurant na()Wd . Bra nch Ba nk Tett gnnual Total Co nstruction Vear 1 2018 2 2019 14,000,000 3,500,000 0 17,500,000 2018 1 2019 2 3 2020 4 2021 5 2022 3,500,000 2,500,000 2,000,000 3,000,000 11,000,000 0 0 2020 3 2021 4 2022 5 6 2023 7 2024 8 2025 9 2026 10 2027 0 0 0 0 0 2023 6 2024 7 2025 8 2026 9 2027 10 11 2028 12 2029 13 2030 14 2031 15 2032 0 0 0 0 0 2028 11 2029 12 2030 13 2031 14 2032 15 16 2033 17 2034 18 2035 19 2036 20 2037 0 0 0 0 0 2033 16 2034 17 2035 18 2036 19 2037 20 21 2038 22 2039 23 2040 24 2041 25 2042 0 0 0 0 0 2038 21 2039 22 2040 23 2041 24 2042 25 26 2043 27 2044 Totals 14,000,000 3,500,000 3,500,000 2,500,000 2,000,000 3,000,000 0 0 28,500,000 2043 26 2044 27 Notes: 'Projected valuations per discussion with City staff 12-11-2017. Table 1— Development Assumptions Project Plan TID No. 35 Creation City of Oshkosh Prepared by Ehlers Page 24 December 28, 2017 Type of District District Creation Date Valuation Date Max Life (Years) Expenditure Period/Termination Revenue Periods/Final Year Extension Eligibility/Years Recipient District Rehabilitation January 23, 2015 Jan 1, 1 2015 27 22 1/23/2040 27 2046 Yes 3 Yes Construction Inflation Year Value Added Valuation Year Increment Base Value 14,729,366 Appreciation Factor 0.00% Base Tax Rate $26.30 Rate Adjustment Factor Tax Exempt Discount Rate Taxable Discount Rate 5.50% Total Increment Revenue Year Tax Rate' Tax Increment DApplyto Base Value Tax Exempt NPV Taxable NPV Calculation Calculation 1 2015 0 2019 0 0 2020 $26.30 0 0 0 2 2019 17,500,000 2020 0 17,500,000 2021 $26.30 460,329 393,491 371,556 3 2020 11,000,000 2021 0 25,500,000 2022 $26.30 749,679 1,009,673 945,191 4 2021 0 2022 0 25,500,000 2023 $26.30 749,679 1,602,155 1,488,892 5 2022 0 2023 0 28,500,000 2024 $26.30 749,679 2,171,850 2,004,249 6 2023 0 2024 0 28,500,000 2025 $26.30 749,679 2,719,633 2,492,740 7 2024 0 2025 0 28,500,000 2026 $26.30 749,679 3,246,348 2,955,763 8 2025 0 2026 0 28,500,000 2027 $26.30 749,679 3,752,804 3,394,648 9 2026 0 2027 0 28,500,000 2028 $26.30 749,679 4,239,781 3,810,653 10 2027 0 2028 0 28,500,000 2029 $26.30 749,679 4,708,029 4,204,971 11 2028 0 2029 0 28,500,000 2030 $26.30 749,679 5,158,266 4,578,731 12 2029 0 2030 0 28,500,000 2031 $26.30 749,679 5,591,187 4,933,006 13 2030 0 2031 0 28,500,000 2032 $26.30 749,679 6,007,458 5,268,813 14 2031 0 2032 0 28,500,000 2033 $26.30 749,679 6,407,718 5,587,112 15 2032 0 2033 0 28,500,000 2034 $26.30 749,679 6,792,583 5,888,818 16 2033 0 2034 0 28,500,000 2035 $26.30 749,679 7,162,645 6,174,795 17 2034 0 2035 0 28,500,000 2036 $26.30 749,679 7,518,475 6,445,863 18 2035 0 2036 0 28,500,000 2037 $26.30 749,679 7,860,619 6,702,800 19 2036 0 2037 0 28,500,000 2038 $26.30 749,679 8,189,603 6,946,342 20 2037 0 2038 0 28,500,000 2039 $26.30 749,679 8,505,934 7,177,187 21 2038 0 2039 0 28,500,000 2040 $26.30 749,679 81810,099 7,395,998 22 2039 0 2040 0 28,500,000 2041 $26.30 749,679 9,102,565 7,603,402 23 2040 0 2041 0 28,500,000 2042 $26.30 749,679 9,383,782 7,799,993 24 2041 0 2042 0 28,500,000 2043 $26.30 749,679 9,654,183 7,986,335 25 2042 0 2043 0 28,500,000 2044 $26.30 749,679 9,914,184 8,162,963 26 2043 0 2044 0 28,500,000 2045 $26.30 749,679 10,164,185 8,330,383 27 2044 0 2045 0 28,500,000 2046 $26.30 749,679 10,404,571 8,489,074 28,500,000 Future Value of Increment 19,202,307 Notes: 'Tax rate shown is actual TID Interim Rate forthe 2017/18 levy per DOR Form PC -202 (Tax Increment Collection Worksheet). Table 2 - Tax Increment Projection Worksheet Financing and Implementation The City anticipates making total expenditures of approximately $12.25 million ("Project Costs") to undertake the projects listed in this Project Plan ("Plan"). Project Costs include an estimated $10.25 million in funding for public infrastructure including: street improvements; water and sanitary sewer system improvements; storm water management improvements; environmental contingency; streetscaping and landscaping; and a traffic impact analysis. Public infrastructure identified in the Plan is expected to be installed in 2018, except for the Sawyer Street extension which is projected to be constructed in 2026 based on cash flow. Remaining costs include: $1.6 million to cash fund a loan and grant program for rehabilitation projects and $436,000 for administrative costs to be incurred over the life of the District. Project Plan TID No. 35 Creation City of Oshkosh Prepared by Ehlers Page 25 December 28, 2017 Administrative costs and funding for the loan and grant program will be paid from tax increments as they are realized over the life of the District. Projections also indicate that the District will accumulate sufficient fund balance to cash fund approximately $1,275,000 of the Sawyer Street intersection improvements and extension when that project is undertaken in 2026. Advances from other funds will also pay for approximately $348,700 of that project, with the advance to be recovered with interest at a later point. All other Project Costs will be debt financed as identified in Table 3. Projects N. Westfield St. Extension & Intersection Improvements Koeller St. Extension & Intersection Improvements Storm Sewerfor Koeller, Westfield and Outfall Storm Sewer Relay For Rath Storm Sewer Relay Within Former Golf Course 2.7Acre Regional Water Quantity and Quality Detention Facility Traffic ImpactAnalysis Streetscaping & Landscaping Environmental Contingency Sawyer Street Intersection Improvements & Extension 5% Contingency Less Cash On Hand Less Future Tax Increments Applied (Reduce Borrowing Required) Total Project Funds Estimated Finance Related Expenses Allocated Municipal Advisor, Bond Counsel & Rating' Underwriter Discount @ 1.25% of ParAmount Debt Service Reserve @ 10% of ParAmount Capitalized Interest Total Financing Required Interest Earnings on Temporary Investment of Funds' Rounding Net Issue Size G.O. Bonds SRev Bo dsr G.O. Bonds Water e v SeBonder e v SRev to -ate Totals 2018 2018 2026 2026 2026 2026 848,292 29,550 43,400 5,200 20,500 36,938 848,292 391,420 0 295,500 0 52,000 105,727 391,420 0 776,000 1,643,706 2,964,653 4,360,419 517,429 776,000 (11,983) 147,000 (2,275) 3,800 2,330 949 147,000 187,000 187,000 1,138, 000 1,138, 000 25,000 25,000 100,000 100,000 64,887 34,462 171,713 51,400 19,000 10,439 351,900 3,898,400 846,500 313,100 739,300 5,797,300 71,480 114,123 203,506 44,895 16,600 37,496 488,100 (348,700) (348,700) (487,766) (787,234) (1,275,000) 1,501,079 2,396,585 4,273,619 455,029 0 0 8,626,312 16,400 29,550 43,400 5,200 20,500 36,938 43,400 5,200 0 295,500 0 52,000 105,727 206,081 0 0 1,643,706 2,964,653 4,360,419 517,429 (7,505) (11,983) (21,368) (2,275) 3,800 2,330 949 4,846 Notes: 'The City would expect to issue debt financing required to pay Project Costs as part of its annual capital improvements plan borrowings. For planning purposes, it is assumed that allocated issuance expenses would be equal to 1% of the par amount of bonds issued. 'Reflects interest earnings on borrowed funds during spend down period. Assumes 1% i nvestment yield for six months. Table 3 - Financing Plan Based on assumed debt service schedules as included within the cash flow exhibit (Table 4), the District is projected to accumulate sufficient funds by the year 2043 to pay off all Project related debt. The projected early closure is based on the various assumptions noted in this Plan and will vary dependent on actual Project Costs incurred and the actual amount of tax increments collected. Project Plan TID No. 35 Creation City of Oshkosh Prepared by Ehlers Page 26 December 28, 2017 O 7 0 fD 0 fU 0 3 fU O N Q W O N S O p O -4 S City of Oshkosh, Tax Increment Cash Flow District # 35 jection Pro�Wues I Advances Estimated Debt service 4 Finance Infrastructur Revolving Balances Debt Tax From Other Debt Interest Total Repayment Related a&Related Loan&Grant Total Principal i Increments Funds z s Proceeds Earnin s Revenues 2015 Debt 2026 Debt s of Advances Expenses Project Costs Program Admin. Expenditures Annual Cumulative Outstanding Year 2018 4,299,500 19,488 4,318,988 103,388 3,897,663 4,001,051 317,937 317,937 4,595,000 2018 2019 0 179,738 179,738 (179,738) 138,199 4,595,000 2019 2020 0 0 132,070 5,000 137,070 (137,070) 1,129 4,595,000 2020 2021 460,329 460,329 340,932 50,000 15,000 405,932 54,397 55,527 4,385,000 2021 2022 1 749,679 749,679 342,380 325,000 15,450 682,830 66,850 122,376 4,170,000 2022 2023 749,679 749,679 343,642 325,000 15,914 684,556 65,124 187,500 3,950,000 2023 2024 749,679 749,679 344,550 16,391 360,941 388,738 576,238 3,725,000 2024 2025 749,679 749,679 340,156 16,883 357,039 392,640 968,879 3,500,000 2025 2026 749,679 348,700 4,808,000 23,643 5,930,022 345,436 97,200 6,352,348 36,528 17,389 6,848,901 (918,879) 50,000 8,125,000 2026 2027 749,679 749,679 345,235 384,664 1,870 17,911 749,679 0 50,000 7,760,000 2027 2028 749,679 749,679 339,646 381,290 10,296 18,448 749,679 0 50,000 7,325,000 2028 2029 749,679 749,679 343,221 380,970 6,487 19,002 749,679 0 50,000 6,875,000 2029 2030 749,679 749,679 340,515 380,415 9,178 19,572 749,679 0 50,000 6,415,000 2030 2031 749,679 749,679 342,341 379,615 7,565 20,159 749,679 0 50,000 5,940,000 2031 2032 1 749,679 749,679 343,276 378,464 7,176 20,764 749,679 0 50,000 5,450,000 2032 2033 749,679 749,679 343,863 376,930 7,500 21,386 749,679 0 50,000 4,945,000 2033 2034 749,679 749,679 343,919 379,982 3,750 22,028 749,679 0 50,000 4,420,000 2034 2035 749,679 749,679 343,538 382,356 1,097 22,689 749,679 0 50,000 3,875,000 2035 2036 749,679 749,679 342,510 379,204 4,595 23,370 749,679 0 50,000 3,315,000 2036 2037 749,679 749,679 341,106 380,349 4,154 24,071 749,679 0 50,000 2,735,000 2037 2038 749,679 295,500 1,045,179 219,031 379,748 421,607 24,793 1,045,179 0 50,000 2,255,000 2038 2039 749,679 749,679 378,575 345,568 25,536 749,679 0 50,000 1,980,000 2039 2040 749,679 749,679 381,158 300,000 5,000 686,158 63,522 113,522 1,690,000 2040 2041 749,679 749,679 378,163 234,263 5,000 617,426 132,254 245,776 1,390,000 2041 2042 749,679 749,679 379,438 5,000 384,438 365,242 611,017 1,075,000 2042 2043 749,679 749,679 379,893 5,000 384,893 364,787 975,804 745,000 2043 365,219 1,341,023 400,000 2044 2044 749,679 749,679 379,460 5,000 384,460 2045 749,679 749,679 378,313 5,000 383,313 366,367 1,707,390 40,000 2045 2046 749,679 52,000 801,679 41,000 25,000 66,000 735,679 2,443,069 0 2046 Total 19,202,307 348,700 9,455,000 43,132 29,049,139 6,357,103 7,259,981 534,263 200,588 10,250,012 1,567,371 436,753 26,606,070 Total Projected District Closure Year Notes: IAs identified is this Plan, City funds on hand wi I I be used to fund a portion of the District's Project Costs. To recover some of the funds on hand applied, the City expects to record an advance to the District to be repaid duri ng the District's life. Figures shown through 2026 exclude debt service reserve amounts financed for revenue bond issuances. These funds are applied in 2038 and 2046 to offset a portion of the final debt service payment. 3Reflects interest earnings on borrowed funds during spend down period. Assumes 1% investment yield for six months. 4Estimated debt service based on November 14, 2017 City of Wausau (Moody's Aa3) water revenue bond sale yields adjusted to reflect non-OQscales. For planning purposes, 0.25% added to rates for 2018 issues, and 1.50%for2026 issues. 5Assumes 3%simple interest accrual on advances. 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 Wis. Stat. § 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 In areas of the District where redevelopment is expected to occur, the City expects to change the zoning to Corporate Business Park with Planned Development Overlay (CBP-PD), or other appropriate zoning based on the specific redevelopment proposed. The City expects to maintain the existing zoning in other areas of the District. 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 commercial, residential and institutional uses. 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. Project Plan TID No. 34 Creation City of Oshkosh Prepared by Ehlers Page 28 December 28, 2017 SECTION 15: Relocation Implementation of this Plan is not expected to require relocation of individuals or business operations except as may be related to acquisition of rights-of-way needed for extension of streets. If relocation were to become necessary, relocations will be handled in compliance with Wis. Stat. Chapter 32 and Wis. Admin. Code ADM 92. 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 redeveloping and rehabilitating existing uses along Oshkosh Avenue: a gateway corridor providing access to the central City from the interstate. These activities will add to the tax base, retain and provide for employment opportunities, and will generate positive secondary impacts in the community such as providing infrastructure needed to allow for construction of Oshkosh Corporation's new global headquarters in Tax Incremental District No. 34 to be created concurrently with the District. SECTION 17: List of Estimated Non -Project Costs Non -project costs are public works projects which only partly benefit the District. Costs incurred that do not benefit the District may not be paid with tax increments. Examples of non -project costs are: 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-proj ect 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. 34 Creation City of Oshkosh Prepared by Ehlers Page 29 December 28, 2017 SECTION 18: Opinion of Attorney for the City of Oshkosh Advising Whether the Plan is Complete and Complies with Wisconsin Statutes 66.1105 See next page. Project Plan TID No. 35 Creation City of Oshkosh Prepared by Ehlers Page 30 December 28, 2017 R RN Q City o Oshkosh City Attorney's Office Phone: (920) 236-5115 Fax: (920) 236-5106 http://www.ci.oshkosh.wi.us December 27, 2017 Darryn Burich Director of Planning Services City of Oshkosh 215 Church Avenue Oshkosh, WI 54903-1130 Dear Mr. Burich: I reviewed the project plan for, City of Oshkosh Tax Increment District #35 Oshkosh Avenue Corridor, pursuant to Section 66.1105(4)(f) of the Wisconsin Statutes. I find that the plan includes a statement listing the kind, number, and location of proposed public improvements within and outside the District. It includes an economic feasibility study, a detailed list of estimated project costs, and a description of the method of financing all estimated project costs, the time when the costs are to be incurred, and a list of estimated non -project costs. The plan contains maps of existing uses and conditions of real property, as well as, proposed improvements and uses. The plan identifies any proposed changes in zoning of the real property in the district, and any proposed changes in the City's master plan, map or other municipal codes required or proposed as part of the district. The plan includes a statement of the proposed method for relocation of any persons to be displaced. The plan further specifies that the district will promote the orderly development within the City, which is consistent with the City's Comprehensive Plan (Master Plan), building codes, and other city ordinances in relation to project elements. Upon adoption of the project plan by the Plan Commission and their submission to the City Council, all requirements of Section 66.1105(4)(f), Wisconsin Statutes, shall be complete and it is, therefore, my opinion that the project plan attached hereto is complete and complies with Wis. Stat. § 66.1105. Sincerely, CI OF HKOSH V'� Lorens City Attorney LL/tw City Attorney City Hall, 215 Church Avenue P.O. Box 1130 Oshkosh, WI 54903-1130 920.236.51 15 http://www.ci.oshkosh,wi.us Exhibit k Calculation of the Share of Projected Tax Increments Estimated to be Paid by the Owners of Property in the Overlying Taxing Jurisdictions Estimated Portion of Taxes that Owners of Taxable Property in each Taxing Jurisdiction g District would.. DOR Form PC -202 Year 2017/18 Winnebago County 19,253,275 20.03% City of Oshkosh 37,861,700 39.39% Oshkosh Area School District 35,051,183 36.46% Fox Valley Technical College 3,962,683 4.12% Total 96,128,841 Fox Valley Winnebago Oshkosh Area Technical Revenue Year County City of Oshkosh School District College Total Revenue Year 2020 0 0 0 0 0 2020 2021 92,198 181,307 167,849 18,976 460,329 2021 2022 150,150 295,272 273,353 30,904 749,679 2022 2023 150,150 295,272 273,353 30,904 749,679 2023 2024 150,150 295,272 273,353 30,904 749,679 2024 2025 150,150 295,272 273,353 30,904 749,679 2025 2026 150,150 295,272 273,353 30,904 749,679 2026 2027 150,150 295,272 273,353 30,904 749,679 2027 2028 150,150 295,272 273,353 30,904 749,679 2028 2029 150,150 295,272 273,353 30,904 749,679 2029 2030 150,150 295,272 273,353 30,904 749,679 2030 2031 150,150 295,272 273,353 30,904 749,679 2031 2032 150,150 295,272 273,353 30,904 749,679 2032 2033 150,150 295,272 273,353 30,904 749,679 2033 2034 150,150 295,272 273,353 30,904 749,679 2034 2035 150,150 295,272 273,353 30,904 749,679 2035 2036 150,150 295,272 273,353 30,904 749,679 2036 2037 150,150 295,272 273,353 30,904 749,679 2037 2038 150,150 295,272 273,353 30,904 749,679 2038 2039 150,150 295,272 273,353 30,904 749,679 2039 2040 150,150 295,272 273,353 30,904 749,679 2040 2041 150,150 295,272 273,353 30,904 749,679 2041 2042 150,150 295,272 273,353 30,904 749,679 2042 2043 150,150 295,272 273,353 30,904 749,679 2043 2044 150,150 295,272 273,353 30,904 749,679 2044 2045 150,150 295,272 273,353 30,904 749,679 2045 2046 150,150 295,272 273,353 30,904 749,679 2046 Total 3,845,956 7,563,100 7,001,682 791,569 19,202,307 1The projection shown above is provided to meet the requirements of Wis. Stat. § 66.1105(4)(i)4. Project Plan TID No. 35 Creation City of Oshkosh Prepared by Ehlers Page 32 December 28, 2017 PLAN COMMISSION MINUTES January 2, 2018 PRESENT: David Borsuk, Ed Bowen, Thomas Fojtik, John Hinz, Steve Cummings, Kathleen Propp, John Kiefer, Robert Vajgrt, Michael Ford EXCUSED: none STAFF: Darryn Burich, Planning Director; Mark Lyons, Principal Planner; Steven Wiley, Assistant Planner; Steve Gohde, Assistant Director of Public Works; Todd Taves, Ehlers Associates; Andrea Flanigan, Recording Secretary Chairperson Fojtik called the meeting to order at 4:00 pm. Roll call was taken and a quorum declared present. The minutes of December 19, 2017 were approved as presented. (Vajgrt/Ford) V. PUBLIC HEARING ON PROPOSED CREATION OF TAX INCREMENT FINANCING DISTRICT #35 OSHKOSH AVENUE REDEVELOPMENT; DESIGNATION OF BOUNDARIES AND APPROVAL OF PROJECT PLAN Tax Incremental District No. 35 (the "TID" or "District") is a proposed district "in need of rehabilitation or conservation" comprising approximately 65.56 acres located along the Oshkosh Avenue corridor general between I-41 on the west and the Fox River on the east. The District is being created to pay the costs of public infrastructure and other costs needed to facilitate redevelopment along this corridor that is expected to occur because of the construction of Oshkosh Corporations new global headquarters on a portion of the Lakeshore Municipal Golf Course to the immediate north of the District and new private redevelopment along Oshkosh Ave. The City anticipates making total expenditures of approximately $12.25 million to undertake projects identified in the Project Plan. Project costs include an estimated $10.25 million in funding for public infrastructure including; street improvements; water and sanitary sewer system improvements; environmental contingency; streetscaping and landscaping; and a traffic impact analysis. Because the district includes a high percentage of one and two family structures that were built before the Uniform Dwelling Code was adopted in 1980 and are of average grade and condition per the Assessor's Classification, the Project Plan includes costs relative to creating a revolving loan and grant program targeted at improving the appearance, value, and functionality of that housing stock in the corridor that is a gateway into the community. The corridor also contains a number of older commercial structures, especially in the eastern end of the district near the Sawyer Street intersection, of which nearly all have some type of zoning nonconforming condition that would also have access to the revolving loan program. Plan Commission Minutes Page 33 January 2, 2018 Mr. Burich presented the item and reviewed the site and surrounding area as well as the land use, zoning classifications and the boundaries of the TID district. He discussed improvements included in the TID project plan, as well as the estimated project costs and method of financing. He stated there is approximately $1.6 million for a facade/site improvement revolving loan fund (RLF) or grant program budgeted within the TIF to encourage private redevelopment consistent with the objectives of TIF #35 project plan. He reviewed the key economic development assumptions that may take place throughout the district which include, a hotel, office building, restaurant, and bank. The TID is projected to close in 2043, which is four years prior to the maximum life of the TID. Mr. Bowen inquired about the process for the RLF program and how dollars are allocated to each property in the district. Mr. Burich responded the program has not been created but it is anticipated the Redevelopment Authority (RDA) will approve the RLF program and approve projects. The goal of the RLF program is to improve values within the district utilizing those funds. Mr. Bowen thought it would be appropriate to have a joint workshop with the RDA, Plan Commission and Common Council to develop the RLF program and make sure priorities are aligned. Mr. Fojtik opened the Public Hearing on the proposed Tax Increment Financing District #35 Oshkosh Avenue Redevelopment. Bob Cruz, 1510 Oshkosh Avenue, stated he is a tenant in the duplex and heard residents could lose their homes due to widening Oshkosh Avenue. Mr. Gohde stated the traffic impact analysis for Oshkosh Avenue is not complete, but it is not anticipated the City would have to acquire houses. Dan Jensen, 1319 Oshkosh Avenue, questioned why Abe Rochlin Park was included in the TID but not Rainbow Park. Mr. Burich responded that the park was included in the TID because of the intersection improvements at Sawyer St. and Oshkosh Avenue. There are no proposed project costs for the park itself. Lynette Radtke, 1817 Oshkosh Avenue inquired about plans in the area near Robbins Restaurant. Mr. Burich responded that traffic is expected to increase in this area. If land was needed for road improvements it could be taken from the north side of Oshkosh Avenue. Mr. Fojtik closed the Public Hearing on the proposed Tax Increment Financing District #35 Oshkosh Avenue Redevelopment. Plan Commission Minutes Page 34 January 2, 2018 The Commission discussed if it was appropriate to do a traffic impact analysis across the Oshkosh Avenue Bridge to Algoma Blvd. Mr. Burich stated a traffic impact analysis may be needed in that area in the future and could be incorporated with the University. Motion by Vajgrt to approve the proposed creation of Tax Incremental Financing District #35 Oshkosh Avenue Redevelopment, Designation of boundaries and approval of project plan. Seconded by Borsuk. Motion carried 8-0-1. (Bowen abstained) There being no further business, the meeting adjourned at approximately 5:20 pm. (Vajgrt/Bowen) Plan Commission Minutes Respectfully submitted, Darryn Burich Director of Planning Services Page 35 January 2, 2018