HomeMy WebLinkAbouttid-11-oshkosh-office-centerTAX INCREMENT DISTRICT #11
OSHKOSH OFFICE CENTER
OfHKOJH
ON THE WATER
TAX INCREMENTAL FINANCING
PROJECT PLAN
CITY OF OSHKOSH
1994
ADOPTED BY COUNCIL: JANUARY 10, 1995
T.I.F. PROJECT PLAN
TAX INCREMENTAL DISTRICT #11
PROJECT PLAN
CITY OF OSHKOSH
ADOPTED BY THE PLAN COMMISSION
DECEMBER 6, 1994
ADOPTED BY THE COMMON COUNCIL
JANUARY 10, 1995
PREPARED BY:
DEPARTMENT OF COMMUNITY DEVELOPMENT
November, 1994
TABLE OF CONTENTS
PAGE
SUMMARY FINDINGS
1
INTRODUCTION
2
BOUNDARIES
3
NAME OF DISTRICT
3
CREATION DATE
3
PROPOSED IMPROVEMENTS & PROJECT COSTS
3
RELOCATION
3
MASTER PLAN, ZONING, & OTHER CODE CONSIDERATIONS
3
ECONOMIC FEASIBILITY
8
FINANCING
8
ORDERLY DEVELOPMENT
11
FINDINGS
11
FIGURE 1 TID #11 BOUNDARIES 4
TABLE I PROJECTED IMPROVEMENT SCHEDULE 5
FIGURE 2 EXISTING & PROPOSED LAND USES 6
FIGURE 3 PROPOSED IMPROVEMENTS 7
TABLE II PROJECTED INCREMENT 9
TABLE III PROJECTED EXPENDITURES 10
ATTORNEY'S OPINION 12
PAGE
APPENDIX A - COMMON COUNCIL REPORT TO
JOINT REVIEW BOARD 13
APPENDIX B - NOTICE OF PUBLIC HEARING BEFORE THE
PLAN COMMISSION 14
APPENDIX C - PLAN COMMISSION MINUTES OF
DECEMBER 6, 1994 15
APPENDIX D - RESOLUTION 94-01 APPROVED BY PLAN
COMMISSION 16
APPENDIX E - COMMON COUNCIL RESOLUTION 95-05
APPROVING TID #11 PROJECT PLAN 18
APPENDIX F - RESOLUTION 94-02 APPROVED BY PLAN
COMMISSION 21
APPENDIX G - RESOLUTION 95-01 APPROVED BY JOINT
REVIEW BOARD 22
SUMMARY FINDINGS
CITY OF OSHKOSH
TAX INCREMENT DISTRICT #11 PROJECT PLAN
DISTRICT City of Oshkosh Tax Increment District #11 - Oshkosh Officer Center.
NAME:
LOCATION Corner of Washington Avenue and Court Street.
SIZE: Approximately 0.34 acres.
PURPOSE: To conserve the Central Business District by rehabilitating a building and
eliminating a blighting influence in the area.
PROPOSED $180,000 for acquisition, demolition, and construction associated with the
COST: removal of a blighted building and the construction of new parking lot that
will serve the TID..
PROJECT $133,000 borrowing program utilizing the Wisconsin Land Trust, and
FINANCING: $47,000 in Community Development Block Grant (CDBG) funds.
PROJECT The District is projected to add $250,000 to the City's tax base during the
REVENUES: projected life period (1995-2015). It is estimated that the TID will generate
$156,550 in tax increments during that same period. It is also anticipated
that lease payments from the adjacent parking lot will generate $82,000.
for the project.
ECONOMIC Based on planned expenditures and revenue levels, all costs of the TID will
FEASIBILITY: be paid off by the end of 2015, the 20th year, and the TID will be dissolved.
Beginning with 2016, all taxes generated as a result of development in TID
#11 will be apportioned among and directly benefit all taxing entities.
1
TAX INCREMENT DISTRICT #11
PROJECT PLAN
CITY OF OSHKOSH
Tax Increment District (TID) #11 is located on the corner of Washington Avenue and
Court Street.. The TID is proposed for the purpose of helping to conserve the City's Central
Business District. The project will leverage the private rehabilitation of a structure at 219
Washington Avenue, and as part of the overall redevelopment project, but not physically
included as part of TID #11, a building which is a blighting influence to the area will be
removed, and a new parking lot constructed that will serve the District. As a result of the new
parking lot a new business will relocate to 219 Washington and initially 50 to 60 new jobs will
be created
The Tax Incremental Financing (TIF) law provides a mechanism enabling cities and
villages to rehabilitate blighted areas, improve business areas, and/or develop industrial sites.
The intent is to defray the cost of public improvements in a Tax Increment District by using tax
revenues or increments generated from new development. Under Tax Incremental Financing,
the tax increment generated from private investment in a tax increment district is applied
entirely to the retirement of debt incurred by the municipality in order to make the area
attractive to investment or reinvestment. When the cost of public improvements have been
recovered, the District is dissolved and all taxing jurisdictions then benefit on the same shared
basis as before the creation of the District.
The tax increment law provides benefits to all taxing entities by promoting development
of new taxable value which otherwise would not occur. It provides a tool to municipalities to
make feasible required levels of investment to meet identified needs and fill legitimate public
purpose roles. The Law also recognizes that since municipalities do not share the investment
risk with other tax entities, they are entitled, within a prescribed period of time to receive all
new tax revenues of the TIF District as the source of paying off all public investment costs. All
other taxing entities receive benefits in the future from the increased tax base generated as a
result of the city's investment in the TIF District.
Historically, the City of Oshkosh has demonstrated its intention to rehabilitate and
conserve its Central Area with the implementation of the Oshkosh Centre, 100 Block,
Algoma/Church and Main and Washington redevelopment Areas. The implementation of TID
#11 is consistent with past rehabilitation efforts designed to conserve the vitality and economic
viability of the Central Business District.
2
BOUNDARIES/PROPERTY IDENTIFICATION
Tax Increment District #11 is a part of Section 24, T18N, R16E, in the second ward of
the City of Oshkosh, Winnebago County, Wisconsin, described as follows:
Lot 8 Block 26, L. M. Miller's First Addition, also Lots G,H,I,J,K,L,&M, Block 26 of G.
Papendieks Plat.
Total area within the District is estimated at 0.34 acres. The real property identified as in need
of rehabilitation or conservation, 219 Washington Avenue, is identified in Figure 1.
NAME OF THE DISTRICT
The name of the TID shall be City of Oshkosh Tax Increment District #11 (TID #11) -
Oshkosh Office Center.
CREATION DATE
The date of creation for the capture of all new taxable value created within TID #11 shall
be January 1, 1995. The value established as of this date shall be used as the base in
computing any increments that may accrue in the tax base for the District.
PROPOSED IMPROVEMENTS AND PROJECT COSTS
Table I provides a detailed listing of proposed improvements and project costs related
to the development of TID #11. Project costs of an estimated $180,000 are related to
acquisition, demolition, and creation of a new parking located adjacent to 219 Washington
Avenue.
RELOCATION
No displacement is expected to occur as a result of the creation of TID #11. However
if some displacement occurs, the displacement and subsequent relocation will be completed
pursuant to relocation requirements and plans required by the State of Wisconsin.
MASTER PLAN. ZONING, BUILDING AND OTHER CODE CONSIDERATIONS
The City of Oshkosh Comprehensive Plan has designated the general area for
commercial use. The area is zoned C-4 Central Business District, and no change in existing
land use, and the zoning, building or other codes are expected as a result of the creation of TID
#11. Existing and proposed land uses shown on Figure 2 are consistent with the Master Plan.
Proposed project improvements are illustrated on Figure 3.
3
Figure 1
Q)
TID 11 Boundaries N T�
�* Property in need of rehabilitation or conservation
r
TABLE I
PROJECTED IMPROVEMENT SCHEDULE
TID #11
OSHKOSH OFFICE CENTER
TID
ACTIVITY I PROJECT
COST I
Acquistion 01 216 Waugoo Avenue $125,000.00
Demolition $30,000.00
Construction of Parking Lot $25,000.00
TOTAL COST $180,000.00
5
Figure 2
TID #11 EXISTING & PROPOSED LAND USE
' .t.
Commercial/Office
CfJ
oa
0
J
C9
Figure 3
TID #11 PROPOSED PROJECT IMPROVEMENTS
0
Acqusition, demolition and construction of new parking lot
7
ECONOMIC FEASIBILITY
It is projected that total revenues generated from the property tax increments and funds
allocated from the City's Parking Fund will offset total project costs within the maximum allowed
23 year life of TID #11. Consequently, the proposed TID is economically feasible. Projected tax
base growth is illustrated in Table II and a financial analysis of the projected debt service is
shown in Table III.
The estimated projected project costs over the 7 year period (1995-2002) are $180,000.
The District is projected to have an equalized value of $1,344,745 when costs are paid
in full and the TID is terminated at the end of the 23 year period. It will generate $156,550 in
tax increments during the same period.
Based on planned expenditures and revenue levels, all costs of TID #11 will be paid off
by the end of 2015, the 20th year, and at that time the TID will be dissolved.
For purposes of this project plan, the following general development and financing
assumptions have been applied:
• A tax increment of $250,000 will be created in 1995, and will remain stable for the
life of the TID. All increments received until the District is dissolved, will be used
to repay financing and project costs. Increments received following the dissolution
of the District will go directly to individual taxing entities based on the respective
tax rates at that time.
• All borrowing for the TID, $133,000, will be through the Wisconsin State Trust
Fund.
• The base value of TID #11 is an estimated $1,094,745.
• The owners of 219 Washington Avenue shall lease the adjacent parking at a rate
of $4,000 per year.
FINANCING
Project costs will be financed through borrowing from the Wisconsin State Trust Fund
and the City's Community Development Block Grant Program. Payment of the loan from the
Wisconsin State Trust Fund will be made from funds generated by the new tax value created
in the District, and the lease arrangement with the owners of 219 Washington Avenue.
13
TABLE II
PROJECTED INCREMENT
TID
#11
OSHKOSH OFFICE CENTER
ASSUMPTIONS:
1. The equalized value of the TID increment created in
1995 is $250,000,
and does
not increase over the life of the TID.
2. The equalized tax rate remains stable over the life of the TID.
TID
ANNUAL
TAX
EQUALIZED
INCREMENT
INCREMENT
TID
COLLECTION
TAX
AVAILABLE
YEAR
CREATED
INCREMENT
YEAR
RATE
TAX YEAR
1995
$250,000.00 $250,000.00
1995
$31.31
1996
$250,000.00
1996
$31.31
$7,827.50
1997
$250,000.00
1997
$31.31
$7,827.50
1998
$250,000.00
1998
$31.31
$7,827.50
1999
$250,000.00
1999
$31.31
$7,827.50
2000
$250,000.00
2000
$31.31
$7,827.50
2001
$250,000.00
2001
$31.31
$7,827.50
2002
$250,000.00
2002
$31.31
$7,827.50
2003
$250,000.00
2003
$31.31
$7,827.50
2004
$250,000.00
2004
$31.31
$7,827.50
2005
$250,000.00
2005
$31.31
$7,827.50
2006
$250,000.00
2006
$31.31
$7,827.50
2007
$250,000.00
2007
$31.31
$7,827.50
2008
$250,000.00
2008
$31.31
$7,827.50
2009
$250,000.00
2009
$31.31
$7,827.50
2010
$250,000.00
2010
$31.31
$7,827.50
2011
$250,000.00
2011
$31.31
$7,827.50
2012
$250,000.00
2012
$31.31
$7,827.50
2013
$250,000.00
2013
$31.31
$7,827.50
2014
$250,000.00
2014
$31.31
$7,827.50
2015
$250,000.00
2015
$31.31
$7,827.50
TOTAL TID INCOME
$156,550.00
9
TABLE III
PROJECTED EXPENDITURES
TID #11
1. $133,000 borrowed at 6.25%, 20 equal payments beginning 1996.
No prepayment of principal.
2. Annual lease payment of $4,000.
YEAR
DEBT/SERVICE
PAYMENT
TID
INCOME
LEASE
INCOME
TOTAL
INCOME
FUND
BALANCE
1995
$2,000.00
$2,000.00
$2,000.00
1996
$11,832.00
$7,827.50
$4,000.00
$11,827.50
$1,995.50
1997
$11,832.00
$7,827.50
$4,000.00
$11,827.50
$1,991.00
1998
$11,832.00
$7,827.50
$4,000.00
$11,827.50
$1,986.50
1999
$11,832.00
$7,827.50
$4,000.00
$11,827.50
$1,982.00
2000
$11,832.00
$7,827.50
$4,000.00
$11,827.50
$1,977.50
2001
$11,832.00
$7,827.50
$4,000.00
$11,827.50
$1,973.00
2002
$11,832.00
$7,827.50
$4,000.00
$11,827.50
$1,968.50
2003
$11,832.00
$7,827.50
$4,000.00
$11,827.50
$1,964.00,,
2004
$11,832.00
$7,827.50
$4,000.00
$11,827.50
$1,959.50
2005
$11,832.00
$7,827.50
$4,000.00
$11,827.50
$1,955.00
2006
$11,832.00
$7,827.50
$4,000.00
$11,827.50
$1,950.50
2007
$11,832.00
$7,827.50
$4,000.00
$11,827.50
$1,946.00
2008
$11,832.00
$7,827.50
$4,000.00
$11,827.50
$1,941.50
2009
$11,832.00
$7,827.50
$4,000.00
$11,827.50
$1,937.00
2010
$11,832.00
$7,827.50
$4,000.00
$11,827.50
$1,932.50
2011
$11,832.00
$7,827.50
$4,000.00
$11,827.50
$1,928.00
2012
$11,832.00
$7,827.50
$4,000.00
$11,827.50
$1,923.50
2013
$11,832.00
$7,827.50
$4,000.00
$11,827.50
$1,919.00
2014
$11,832.00
$7,827.50
$4,000.00
$11,827.50
$1,914.50
2015
$11,832.00
$7,827.50
$4,000.00
$11,827.50
$1,910.00
$224,808.00
$148,722.50
$82,000.00
$238,550.00
10
ORDERLY DEVELOPMENT
Creation of the Tax Incremental Financing District for the purpose of conserving the
Central Business District promotes orderly development by ensuring that buildings are
rehabilitated to their highest and best use in a manner consistent with appropriate plans and
codes, that adequate public facilities are available to support development, and that blighting
influences on the TID are mitigated. Given the difficulties associated with development in
central cities, were it not for the TIF financing mechanism, and support of the City of Oshkosh
to undertake a commercial rehabilitation program in the central city, such efforts to conserve
and rehabilitate this area might not occur.
The City of Oshkosh, working in cooperation with the Oshkosh Commercial Development
Corporation (a non-profit development corporation), is involved in a continuing program to
conserve the central city area through rehabilitation of buildings and preventing or eliminating
slums or blight. These and other efforts are undertaken to promote orderly development in the
central city as well as maintaining and improving the overall economic health of the community.
FINDINGS
More than 50 percent of the real property within the TID is in need of rehabilitation or
conservation within the meaning of Section 66.435(3), Wis. Stats..
The rehabilitation of buildings, and adjacent parking lot will have a significant positive
impact on the value of substantially all real property in the District.
The primary objective for creating TID #11 is to help rehabilitate and conserve the
Central Business District. The project costs identified are consistent with the purpose for which
the tax increment district was created.
Based on January 1, 1993 equalized values, the base value of TID #11 is estimated at
$1,094,745. The equalized value of taxable property in TID #11 plus all existing districts does
not exceed 7 percent of the total equalized value of taxable property within the City of Oshkosh.
The January 1, 1993 equalized value of all existing TID's including the estimated value of
proposed TID #11 is $76,566,345, or 4.7 percent of the estimated $1,639,978,900 total
equalized value of the City at the time of TID #11's creation.
11
wpk:lz
CITY HALL
215 Church Avenue
P. O, Box 1130
Oshkosh, Wisconsin
5902-11130 City of Oshkosh
0 -
Of HKO-
City Attorney's Office
Phone: (414) 236-5115
Fax: (414) 236-5039
November 16, 1994
Mr. Jackson R. Kinney
Director of Community Development
City Hall
215 Church Avenue
Oshkosh, WI 54902-1130
Dear Mr. Kinney:
I have reviewed the Project Plan for City of Oshkosh Tax Increment District #11 - Oshkosh
Office Center, pursuant to Section 66.46(4)(f) of the Wisconsin Statutes. I find that the Plan
includes a statement listing the kind, number and location of the proposed public improvements.
It also shows an economic feasibility study, a detailed list of estimated project costs, and a
description of the method of financing all estimated project costs and the time when the costs are
to be incurred. The Plan also has a map showing existing uses and conditions of the real
property in the district and a map showing proposed improvements in the district and which also
indicates the zoning of the District. The plan further shows how the district will promote the
orderly development of the City.
Upon adoption by the Planning Commission of the Project Plan and their submission of the plan
to the City Council, all requirements of Section 66.46(4)(f), Wis. Stats., shall be complete and
it is, therefore, my opinion that the Project Plan attached hereto is complete and complies with
Sec. 66.46(4)(f), Wis. Stats.
Sincerely,
CITY OF OSHKOSH
12
APPENDICES
APPENDIX A
COMMON COUNCIL REPORT TO THE JOINT REVIEW BOARD
Section 66.46(4)(i), Wisconsin Statutes, requires the Common Council provide the Joint
Review Board with certain information and projections. This Appendix will provide the required
information either by reference to its location in the Project Plan, or by separate narrative. All
projections and information presented in this report assume TID #11 will be in existence for twenty
of the twenty-three years allowed by Statutes.
The estimated amount of tax increments to be created over the life of TID #11 are shown
on Table II of the Project Plan. Specific projects that may be undertaken in TID #11, and
their estimated costs including debt service, are listed in Table III of the Project Plan.
2. The value increment (equalized value of all taxable property minus the tax incremental
base) when project costs are paid in full is an estimated $250,000.
3. Project costs in 1 above are associated with public improvements, and the acquisition of
property. The project costs incurred by the TID should not be paid for by the property
owners because, while they will derive some benefit from the improvements, the general
public will also benefit from the infrastructure improvements as well as the new tax base.
4. The share of projected tax increments to be paid by the owners of taxable property in each
of the taxing jurisdictions overlying the district is estimated as follows: School District,
$82,388; City Government, $40,276; County Government, $25,248 Fox Valley Technical
College, $8,638. It should be noted that the projected total increment would be collected
over twenty years and, per the income projections, the TID fund would have a balance
sufficient to pay all debt service prior to the 23rd year.
Property owners paying a part of the projected tax increment will accrue benefits in three
ways. First, without the TID the rehabilitation of the area to the extent outlined in the
project plan would not occur. Second, installation of the public improvements will allow
current property owners to develop their property in such a manner as to attract a higher
quality development, thereby receiving a higher rate of return. Third, an adjacent property
that is a blighting influence on the area will be removed and the property improved.
13
APPENDIX
NOTICE OF PUBLIC HEARING
BEFORE THE CITY OF OSHKOSH PLAN COMMISSION
TUESDAY, DECEMBER 6, 1994
4:00 PM, Room 404
City Hall, Oshkosh, WI
The Plan Commission will hear public comments on the designation of a Tax Incremental Financing
District. The boundaries to be established will be discussed at this scheduled meeting. A project plan
for the district will also be considered. Interested persons are encouraged to attend. Copies of the plan
are available upon request. For information call the Planning Division, City of Oshkosh, 236-5055
between 8 AM - 4:30 PM, Monday thru Friday.
The district shall be referred to as follows: Tax Increment District No. 11 - Oshkosh Office Center.
Location: The City is implementing Tax Increment District No. 11 on the corner of Washington Avenue
and Court Street.
Legal Description: The proposed boundaries of Tax Increment District No. 11 are described as follows:
A part of Section 24, T18N, R16E, 2nd Ward, City of Oshkosh, Winnebago County,
Wisconsin, described as follows: Lot 8, Block 26, LM Millers 1st Addition, also Lots G,
H, I, J, K, L & M, Block 26, G. Papendieks Plat.
PUBLISHED: Nov. 19 & 26, 1994
14
APPENDIX C
PLAN COMMISSION MINUTES PAGE -4- DECEMBER 6, 1994
(excerpt from City of Oshkosh Plan Ccumission minutes of December 6, 1994)
Motion by Vierthaler for approval/acceptance of the agreement to allow the City of Oshkosh the
right to enter railroad right-of-way owned by the Fox Valley & Western Ltd., Railroad as
proposed. Seconded by Smith. Motion carried 5-0.
ITEM V: DESIGNATION OF TAX INCREMENT DISTRICT #11 BOUNDARIES AND THE
APPROVAL OF THE TAX INCREMENT FINANCING PROJECT PLAN - City Administration
City Administration request the Plan Commission review and approve the proposed TID #11 boundaries and
the TID #11 Oshkosh Office Center Tax Incremental Financing Project Plan.
Vice Chairperson Schwalenberg inquired if there was any underground tank exposure.
Mr. William Frueh, City Manager, stated that the purchase is contingent only upon the site having a clean bill
of health in that regard. Mr. Frueh then gave a brief overview of the whole project relative to costs and
sources of payment for this $180,000. project.
The public hearing portion closed with no comments being made by the public.
Motion by Vierthaler for approval of the boundaries of TID #11- Oshkosh Office Center and the
project plan for TID #11. Seconded by Fonstad. Motion carried 5-0.
VI: APPROVAL OF COMPREHENSIVE PLAN IMPLEMENTATION REPORT - Comprehensive Plan
Implementation Committee Request
The Plan Commission is asked to approve the Comprehensive Plan Implementation Report for 1995. The
report was reviewed and recommended by the Comprehensive Plan Implementation Committee at it's
meeting of November 29, 1994.
Mrs. Fonstad inquired if a reference prohibiting double frontage should be included in the Plan.
Mr. Kinney stated that would be included in the Plan eventually. The intent is to do a general update and
bring the whole Plan back section by section to the Plan Commission for review and approval.
Mrs. Fonstad also suggested that with respect to the UW-Oshkosh parking situation, to see an analysis of
the City making a ramp right across from the Polk Library with the revenues from the parking ramp given
back to the City.
Mr. Kinney stated staff will be looking at any and all alternatives.
Motion by Vierthaler for approval of the Comprehensive Plan Implementation Report and that
the Department of Community Development pursue the activities listed as part of it's 1995 work
program. Seconded by Stenz. Motion carried 5-0.
There being no further business, the meeting adjourned.
Respectfully submitted,
15
Bruce A. Roskom
Principal City Planner
APPENDIX D
December 6, 1994
Resolution 94-01
WHEREAS, the Plan Commission has held a public hearing on the creation of a Tax Increment
District and the proposed boundaries thereof; and
WHEREAS, the Chief Executive Officers of the Oshkosh Area School District, Winnebago County
Board, and other entities having power to levy taxes on property located within the proposed TID have
been notified including the School Board of any school district which includes property within the proposed
District pursuant to Section 66.46(a), Wis. Statutes.
NOW, THEREFORE, BE IT RESOLVED that the Plan Commission of the City of Oshkosh hereby
approves creation of Tax Incremental Financing District No. 11, City of Oshkosh, as described in the
attached Exhibit "A".
BE IT FURTHER RESOLVED that the improvements contemplated in TIF No. 11, City of
Oshkosh, are likely to significantly enhance the value of substantially all real property in TIF District No.
11.
BE IT FURTHER RESOLVED that the value of equalized, taxable property in TIF District No. 11,
City of Oshkosh together with all other established Tax Incremental Finance Districts, does not exceed 7%
of the total equalized valued of taxable property within the City of Oshkosh.
BE IT FURTHER RESOLVED that more than 50% of the real property within TID No. 11 is in
need of rehabilitation or conservation within the meaning of Sec. 66.435(3), Wis. Stats..
BE IT FURTHER RESOLVED, that the project costs are consistent with the purposes for which
the Tax Increment District is created with the primary objective to assist in conserve the central business
district by facilitating the rehabilitation of a blighted area.
tif.pc
M
APPENDIX D (cont'd)
EXHIBIT "A"
Tax Increment District #11 is a part of Section 24, T18N, R16E, in the second ward of the
City of Oshkosh, Winnebago County, Wisconsin, described as follows:
Lot 8 Block 26, L. M. Miller's First Addition, also Lots G,H,I,J,K,L,&M, Block 26 of G.
Papendieks Plat.
17
APPENDIX E
JANUARY 10, 1 95 95-05 RESOLUTION
(CARRIED LOST LAID OVER WITHDRAWN
PURPOSE: APPROVE TAX INCREMENT DISTRICT NO. 11 PROJECT PLAN;
CREATE TAX INCREMENTAL FINANCE DISTRICT NO. 11
INITIATED BY: CITY ADMINISTRATION
PLAN COMMISSION RECOMMENDATION:
WHEREAS, pursuant to Section 66.46, Wis. Stats., the City of Oshkosh
proposes to create Tax Increment District No. 11, City of Oshkosh; and
WHEREAS, the City of Oshkosh Plan Commission has prepared and adopted a
project plan for Tax Increment District No. 11, City of Oshkosh, which:
1) Includes a statement listing the kind, number and location of all proposed
public works or improvements within such District.
2) Contains an economic feasibility study.
3) Contains a detailed list of estimated project costs.
4) Contains a description of the methods of financing all estimated project
costs and the time when such costs or monetary obligations related
thereto are to be incurred.
5) Includes a map showing existing uses and conditions of real property in
such District.
6) Includes a map showing proposed improvements and uses therein.
7) Contains a list of estimated non -project costs.
8) Contains a statement of a proposed method for the relocation of any
person to be displaced.
9) Indicates how the creation of TID No. 11 promotes the orderly
development of the City.
10) Contains an opinion of the City Attorney that the Plan complies with
Section 66.46(4)(f), Wis. Stats.
and
WHEREAS, the Plan Commission has held a public hearing on the creation of
a tax increment district and the proposed boundaries thereof and has notified the
Chief Executive Officers of all local government entities having the power to levy
taxes on property within the District, including the School Board of any school district
which includes property within the District pursuant to Section 66.46, Wis. Stats.;
and
'U
APPENDIX E (cont'd)
JANUARY 10, 1995 95-05 .RESOLUTION
(CONT'D)
WHEREAS, the City of Oshkosh Plan Commission has found that:
1) Said Project Plan for Tax Increment District No. 11, City of Oshkosh, is
feasible; and
2) Said Project Plan is in conformity with the Master Plan of the City of
Oshkosh.
NOW, THEREFORE, BE IT RESOLVED that the Common Council of the City of
Oshkosh approves said Project Plan for Tax Increment District No. 11, City of
Oshkosh, pursuant to the provisions of Section 66.46, Wis. Stats.
BE IT FURTHER RESOLVED that the Common Council of the City of Oshkosh
hereby approves creation of Tax Incremental Financing District No. 11, City of
Oshkosh, as described below:
A part of Section 24, T18N, R16E, 2nd Ward, City of Oshkosh, Winnebago
County, Wisconsin, described as follows: Lot 8, Block 26, LM Millers 1st
Addition, also Lots G, H, I, J, K, L & M, Block 26, G. Papendieks Plat.
BE IT FURTHER RESOLVED that the improvements contemplated in TIF #11,
City of Oshkosh, are likely to significantly enhance the value of substantially all real
property in TIF District No. 11.
BE IT FURTHER RESOLVED that the value of equalized, taxable property in TIF
District No. 11, together with all other established Tax Incremental Finance Districts,
does not exceed 7% of the total equalized value of taxable property within the City
of Oshkosh.
• BE IT FURTHER RESOLVED that more than 50% of the real property within TID
#11 is blighted and in need of rehabilitation or conservation within the meaning of
Section 66.435(3), Wis. Stats.
BE IT FURTHER RESOLVED that the project costs are consistent with the
purposes for which the Tax Increment District is created with the primary objective
being to conserve the Central Business District by facilitating the rehabilitation of a
blighted area.
19
STATE OF WISCONSIN
COUNTY OF WINNEBAGO )SS
CITY OF OSHKOSH
I, DONNA C. SERWAS, Clerk for the City of Oshkosh, Winnebago County,
Wisconsin, do hereby certify that the annexed resolution is a
true and correct copy of the original on file in my office, adopted by the
Common Council of the City of Oshkosh, Wisconsin at a regular
meeting held on January 10 , 19 95.
Witness my hand and the Corporation seal of the City of Oshkosh,
Wisconsin, this 12th day of January , 19 95.
City Clerk of the City of Oshkosh
Winnebago County, Wisconsin
20
APPENDIX F
DECEMBER 6, 1994
RESC)LUIION 94-02
WHEREAS, the Plan Commission has held a public hearing on the proposed creation of Tax
Increment District #11 - Oshkosh Office Center (TID #11), and the proposed boundaries of TID #11 as;
and
WHEREAS, the City of Oshkosh Plan Commission has prepared a project plan for Tax Increment
District No. 11, City of Oshkosh, which:
1) Includes a statement listing the kind, number and location of all proposed public works or
improvements within such District;
2) Contains an economic feasibility study;
3) Contains a detailed list of estimated project costs;
4) Contains a description of the methods of financing all estimated project cots and the time
when such costs or monetary obligations related thereto are to be incurred;
5) Includes a map showing existing uses and conditions of real property in such District;
6) Includes a map showing proposed improvements and uses therein;
7) Contains a list of estimated non -project costs;
8) Contains a statement of a proposed method for the relocation of any person to be
displaced;
9) Indicates how the creation of TID No. 11 promotes the orderly development of the City;
10) Contains an opinion of the City Attorney that the Plan complies with Sec. 66.46(4)(t), Wis.
Stats.; and
WHEREAS, the City of Oshkosh Plan Commission has submitted said Project Plan to the
Common Council of the City of Oshkosh.
NOW, THEREFORE, BE IT RESOLVED by the Plan Commission of the City of Oshkosh that:
1) Said Project Plan for Tax Increment District No. 11, City of Oshkosh, is feasible; and
2) Said Project Plan is in conformity with the Master Plan of the City of Oshkosh.
BE IT FURTHER RESOLVED that the Plan Commission of the City of Oshkosh approves said
Project Plan for Tax Increment District No. 11, City of Oshkosh, pursuant to the provisions of Section
66.46, Wis. Stats.
tifplan.pc
21
JANUARY 23, 1995
RESOLUTION 95-01
WHEREAS, on January 10, 1995 the City of Oshkosh Common Council approved a Project Plan
for development of TID #11 and created TID #11 (Resolution 95-05); and
WHEREAS, the City has complied with all Statutory requirements relative to creation of said
District; and
WHEREAS, the TIF Joint Review Board has received and reviewed copies of the TID #11
Project Plan; and
WHEREAS, quality development of the Oshkosh Office Center could not occur without the
ability to successfully implement the TIF mechanism contained in the Project Plan; and
WHEREAS, the economic benefit and increased employment to be derived from the
development of the Oshkosh Office Center are sufficient to compensate for the public cost associated
with the project; and
WHEREAS, benefits of TID #11 outweigh the anticipated tax increments to be paid by the
owners of property in the overlying taxing districts.
NOW, THEREFORE, BE IT RESOLVED by the TIF Joint Review Board that TID #11, City of
Oshkosh - Oshkosh Office Center and said Project Plan are hereby approved.
TIF JOINT REVIEW BOARD
CITY OF OSHKOSH
22