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Home My WebLink About18-10 REDEVELOPMENT AUTHORITY OF THE CITY OF OSHKOSH,WISCONSIN JUNE 6, 2018 18-10 RESOLUTION (APPROVED LOST LAID OVER WITHDRAWN ) PURPOSE: APPROVE SPOT BLIGHT DESIGNATION; APPROVE ACQUSITION OF PROPERTY AT 1302 EASTMAN STREET ($38,000) WHEREAS, the Redevelopment Authority of the City of Oshkosh was created to assist in the elimination and prevention of blight and blighting influences and to promote urban renewal; and WHEREAS, the property at 1302 Eastman Street exhibits conditions cited under Section 66.1333 (2m)3.(bm) of the Wisconsin Statutes that consider said property to be blighted; and WHEREAS, the Redevelopment Authority has conducted a public hearing to obtain comments and determine if said property is blighted; and WHEREAS, the owner has offered the property at 1302 Eastman Street to the Redevelopment Authority in the amount of$38,000, plus closing costs. NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Authority of the City of Oshkosh that: 1. Findings and Determinations. It has been found and determined and is hereby declared that: (a) conditions of blight exist at the Property; and (b) a comprehensive plan of redevelopment is not necessary with respect to the private redevelopment of the Property or the relation of the redevelopment of the Property to other property redeveloped by the Authority. 2. Spot Blight Designation. The Authority hereby finds that the Property is blighted in need of rehabilitation and blight elimination under the meaning in Section 66.1333 (2m)3.(bm) of Wisconsin Statutes. JUNE 6, 2018 18-10 RESOLUTION CONT'D BE IT FURTHER RESOLVED that the proper officials are hereby authorized and directed to purchase 1302 Eastman Street in the amount of $38,000.00 plus closing costs and execute any and all documents necessary to consummate this transaction. Money for this purpose is hereby appropriated from Community Development Block Grant Funds. TO: City of Oshkosh Redevelopment Authority FROM: Allen Davis, Community Development Director DATE: May 30, 2018 SUBJECT: 18-10 Approve Spot Blight Designation; Approve Acquisition of Property at 1302 Eastman Street Background The property owner has become incapacitated and unable to maintain the house. The owner now lives in an assisted care facility. The property was offered to the City and based on City inspection, the house can be rehabilitated. The RDA could decide to acquire and offer to GO-HNI or authorize city staff to proceed with the rehabilitation. Analysis The property is currently assessed at $102,100. However, based on a recent site inspection, the City Assessor will lower the value to $42,000. The rehabilitation is projected to cost about $100,000. In order to bring the property back to assessed value, and break even on the project, the property acquisition would have to be $38,000. The owner has accepted staff's offer of $38,000 with the condition that the RDA and City Council approve the acquisition. Fiscal Impact The acquisition of the property for $38,000 could make a rehabilitation project feasible. The City blight removal program could break-even if the home was rehabbed and would generate more taxable value on the parcel than currently exists. There would be some carrying costs, depending on how long the rehabilitation and sale took. Staff will be coordinating with the new GO-HNI Executive Director and the GO-HNI Board in order to determine if the rehab project will fit the GO-HNI criteria for a rehab project. GO-HNI has expressed interest in receiving one house per year for rehab and sale for blight removal and neighborhood revitalization efforts. GO-HNI would likely rehab the property so that it exceeded the original assessed value. Staff will report the GO-HNI interest at an upcoming RDA meeting. Recommendation RDA approves the spot blight designation and acquisition. I I I I E NEVADA AV E NEVADA AV , III 1 u~i I 'I �I U) z � I N a wI L_ _e_ve 1 1 ..........._1 LL �.� u.i � it Lu I I - E CUSTER AV LI LP .I z T-7 ....I L..... I I I I I I I ] ii i . �..� LLJ E TENNESSEE AV f I H I JI C cna I L 71I I i L_Ll cun) � E NEW YORK AV z - � I , , ..i l U, � I 1 I I ISI W lLLI I L.l LL I I ILij EHRES CT- /A,4//,/ L JI B BALDWIN AV ALDWIN AV ::� I �� I I 7 1302 Eastman N 1 in ::::: 04Irrnll /o 1 in ::: 2131.E f Oty of O Ihllcea>Iln rnnaalha. «airnen en alk a aife iinAe irnde d to be used Veror¢re^rne it all iide nnUfica iieairn ............................................................ uuiu lrarnSe„„o nlly and tIlne (.ity of O,,Ilnike:u Iln aSSLlirnes no Ilii lJllRy feroir the accuiifacy of the e nn VennirrnatJoirn 11 hose uus„ing theuinlorrnnaa6oin aare�;r ireu,»I,oin,alilblle,brnre inVyurn�q�aere,uun�aeay. 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