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HomeMy WebLinkAbout19-04 REDEVELOPMENT AUTHORITY OF THE CITY OF OSHKOSH,WISCONSIN FEBRUARY 4, 2019 19-04 RESOLUTION (CARRIED LOST LAID OVER WITHDRAWN ) PURPOSE: APPROVE OPTION TO PURCHASE PARCEL I IN THE MARION ROAD REDEVELOPMENT AREA; MERGE, LLC BE IT RESOLVED by the Redevelopment Authority of the City of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 Parcel I on Marion Road 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 I,Marion Road,Marion Road Redevelopment Area BACKROUND The RDA sold the-northern part of this parcel to the Oshkosh Water Utility for the new water tower recently constructed on the site. The remaining parcel is relatively small at 1.4 acres, with little visibility and redevelopment options are more limited. The best use of the parcel may be a parking lot serving multiple Marion Road area users. ANALYSIS As Merge continues to examine redevelopment alternatives, the need for off-street parking has risen and, Parcel I could help. Parcel I could serve as a support parcel for the redevelopment of Parcel H and especially, Parcel J. 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 more than$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 I. r, f i Q'I '�Yuf f�f���f � 'J�f%� '" Nb �-' � � �'�" � ��m„ �//r4�°✓ �� !�� 'll�� ARZ f 1 / / w r ft I+ • % � rip, ;-; �z`':., \ � �+±� � i if r Mt ZIN w YII r�I I , r� ,614�j `� jJf' N 1 in = 0.04 mi {/ „ 1 ' = 200 ft JdyAll 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 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 J:\GIS\GIS_Base_MapsManning Base Map.mxd User:andreaf lil l l ililllllilllll ill it i l 8308064 Txc4223181 CERTIFIED SURVEY MAP NO. -1150 ��OM A RE-DIVISION OF LOT 4 OF CERTIFIED SURVEY MAP NUMBER 6553. 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Cl 33.85' t0'.--EASEMENT ypg4 S EAC Y J. �,y \\\ R CSM 16506 TETTE \ �— M HIGAN lqN�SURV \\ STACEY J.BLUSE S-2657 CURVE TABLE PROFESSIONAL LAND SURVEYOR CHORD CHORD AUGUST 18,2016 CURVE LENGTH RADIUS I BEARING LENGTH C1 123.22' 349.43'1 N80'53'01"W 122.58' THIS IS AN ORIGINAL SURVEY DOCUMENT IF THE PROFESSIONAL LINE TABLE SEAL AND SIGNATURE ARE IN LINE LENGTH BEARING BLACK/RED CONTRASTING INK LEGEND L1 23.46' S01'39'28"E • FOUND 1"iRON PIPE(UNLESS NOTED L2 15.13' N3723'42"E SHEET 1 OF 3 o SET 3/4'RE3AR(1603 Ibs/tt) L3 2.OD' N53'46'43"W . PROJECT No. 60440298 L4 2.00' S53'46'43"E CADD FILE CSA y�g X FOUND CHISELED CROSS DRAWN BY RAD L5 41.64' S37'19'31"W DATE DRAWN 08/18/2016