HomeMy WebLinkAbout19-05 REDEVELOPMENT AUTHORITY OF THE CITY OF OSHKOSH,WISCONSIN
FEBRUARY 4, 2019 19-05 RESOLUTION
(CARRIED LOST LAID OVER WITHDRAWN )
PURPOSE: APPROVE OPTION TO PURCHASE A PORTION OF PARCEL H
IN MARION ROAD REDEVELOPMENT AREA; MERGE, LLC
BE IT RESOLVED by the Redevelopment Authority of the City of Oshkosh that
the option to purchase submitted by Merge, LLC or its assigns, for a portion of Parcel H
at the corner of Jackson Street and Pearl Avenue within the Marion/Pearl Redevelopment
Area is hereby accepted and the proper officials are hereby authorized and directed to
execute any and all documents necessary for purposes of same.
BE IT FURTHER RESOLVED that the terms of said option to purchase agreement
shall include, but not be limited to:
1) Compliance with the approved Marion Road/Pearl Avenue Redevelopment Area
Phase II Development Guidelines.
2) Formal submittal of a proposal by May 31, 2019 with option for extension until
July 31, 2019.
3) Approval of the final development plan by the Redevelopment Authority and
Common Council.
4) Provide lending financing commitment.
5) Obtain project approval under Planned Development Overlay provisions.
6) Submittal of a scaled site plan detailing building elevations.
7) The option fee shall be One Thousand Dollar and NO/100 ($1,000.00) and a
purchase price of One Dollar and NO/100 ($1.00).
TO: City of Oshkosh Redevelopment Authority
FROM: Allen Davis, Community Development Director
DATE: January 29, 2019
SUBJECT: Option to Purchase—Parcel H,Jackson/Pearl, Marion Road
Redevelopment Area
BACKROUND
The RDA owns the 1.7 acre parcel on the southwest corner of Jackson and Pearl. This was
originally part of the Andy Dumke Redevelopment project. The mixed-use building was never
built and the Development Agreement expired. Since then,Bank First National and Jeff
Fullbright have held Options to purchase the parcel,but neither have executed the Option. The
proposed Option to Purchase would be in concert with the original Option that the RDA
granted to Merge in November,2018,for Parcel J.
ANALYSIS
Merge continues to examine development formulas for the Jackson/Marion Parcel J. Parcel J
was developed as part of a Planned Development with Accu-com and Morton Pharmacy. The
existing parking lot and proposed building was to serve as the environmental cap for this
section of the site. Any changes to the cap or remediation plan will required WisDNR approval.
Based on the proposed uses,Merge has offered the Option to Purchase Parcel H as a
complement to the Parcel J mixed-use development. The Option is standard for the Marion
Road Redevelopment District, and any purchase and redevelopment will require RDA,Plan
Commission and City Council action.
FISCAL IMPACT
The combination of the Parcel H,I and J would complete the redevelopment of the Marion
Redevelopment Area. The estimated tax base created would be$35 million. The sale of the
property"as is" would net the RDA$1. The RDA would not be responsible for any further
remediation on the site.
RECOMMENDATION
The RDA approves the proposed Option to Purchase of Parcel H.
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City of Oshkosh maps and data are intended to be used for general identification
purposes only,and the City of Oshkosh assumes no liability for the accuracy of the Printing Date: 1/29/2019 '1 Abir
information.Those using the information are responsible for verifying accuracy.ForOshkosh
full disclaimer please go to www.ci.oshkosh.wi.us/GlSdisclaimer Prepared by:City of Oshkosh,WI
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D. NOTES
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S-2840 - SEE EASEMENT INFORMATION ON PAGE 2 OF
APPLETON = THIS SURVEY. � :m I t]s V
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SURVEYED FOR THE REDEVELOPMENT
r1U{aV ley\`s�� AUTHORITY OF THE CIN OF OSHKOSH. I
BEARINGS ARE REFERENCED TO GRID I /
NORTH OF THE WISCONSIN STATE PLANE 1
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CRAIG D 4SEN S-2840 SCAM 1'.- 120'
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AS SHOWN HEREON, ' Jl
July 26,2011
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