HomeMy WebLinkAbouttid-21-fox-river-corridor-projectTAX INCREMENT DISTRICT 1/21
FOX RIVER CORRIDOR.PROJECT
PROJECT PLAN
Schedule:
Plan Commission January 17, 2006
Common Council February 14, 2006
Joint Review Board (Pending)
Department of Community Development
January 2006
Table of Contents
rian6ummary................................................................................
Introduction....................................................................................
Purpose............................................................................................
Boundaries/Legal Description......................................................
Nameof District.............................................................................
CreationDate.................................................................................
ProjectCosts and Improvements .................................................
Table 1 Estimated Project Costs and Improvements .................
Methodof Fivancing......................................................................
Master Plan, Zoning, Building and Other Code Consideration,
Economic Feasibility/Expectation for Development...................
Promotion of Orderly Development .............................................
ProposedUses and Existing Conditions .......................................
Non -Project Costs..........................................................................
Relocation.......................................................................................
Findings...........................................................................................
SupplementalData.........................................................................
Hppenuix A — rroject ivlaps
..........................................................1
........................................................2
4
................................................7
7
8
..........................................................9
10
10
# 1 Boundaries......................................................................................................12
# 2 Phased Hotel/Condo Convention Center and Marina Development ........13
# 3 Proposed Land Use........................................................................................14
# 4 Proposed Improvements................................................................................15
# 5 Existing Zoning..............................................................................................16
# 6 Proposed Zoning............................................................................................17
# 7 Existing Conditions and Land Use...............................................................18
#8 Parcel Identification.......................................................................................19
Appendix B - Hotel/Condo Convention Center Project Tax Revenue Projections Table................21
Appendix C — Five Rivers Development Plan Commission Staff Report...........................................22
Appendix D — Parcel G Development Plan Commission Staff Report...............................................37
AppendixE — Attorney's Opinion..........................................................................................................45
TAX INCREMENT DISTRICT #21
PROJECT PLAN
CITY OF OSHKOSH
PLAN COMMISSION
January 17, 2006
COMMON COUNCIL
February 14,2006(Pending)
JOINT REVIEW BOARD
Pending
PREPARED BY:
DEPARTMENT OF COMMUNITY DEVELOPMENT
January 2006
Plan Summary
City of Oshkosh
Tax Increment District #21 Project Plan
District Name: City of Oshkosh Tax Increment District # 21 Fox River Corridor Project
Location: Central City of Oshkosh; generally located west of Jackson Street between the
Fox River on the south and Pearl Avenue on the north with the district
extending approximately 1,500 feet west along the Fox River and
approximately 600 feet west of Jackson Street between Pearl Avenue and
Marion Road on the north side of the Fox River (including one parcel on the
south side of the river) south of Pearl Avenue, west of Jackson Street
Size: Approximately 26 acres
Parcels: 10
Estimated District
Base Value: $4.4 million
Estimated District
Value at Termination $96.5 million at district termination.
Purpose: To support redevelopment and blight elimination activities in the district and
may involve acquisition and clearance of properties, infrastructure
improvements, environmental remediation, site preparation, trail system
improvements, seawall improvements, docking facilities, and may also include
the provision of developer assistance cash grants.
Proposed Costs: $15.8 million.
Project -Financing: The majority of project costs will be financed using a combination of General
Obligation Notes and/or Lease Revenue Bonds as well as possible loans from
the State Land Trust Program.
Economic Feasibility: Economic feasibility is based on a phased redevelopment plan that involves the
initial construction of a hotel/condominium resort and marina, two 51 unit
apartment buildings, 180 condominium/hotel units and marina, and
commercial and retail facilities.
Introduction
Wisconsin's Tax Incremental Financing law provides a mechanism that enables 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 designated Tax Incremental District (TID) by using tax
revenues or increments generated from new development to pay for project improvements in the
district. The value increment is the difference between the certified base value of the TID at the time
of creation and the increased value of the property in subsequent years until the TID is dissolved. It
is the value increment generated from new development that is used to retire the debt incurred by the
City in implementation of project activities.
Under Tax Incremental Financing, the tax increment generated from private investment in a TID 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 improvements have been recovered and the
debt service attributable to the district has been retired, the TID is dissolved and all taxing
jurisdictions benefit on the same shared basis as before the creation of the TID. If the TID has been
successful, each of the taxing jurisdictions should receive a much larger share of the property taxes
from the new development that came about as a direct result of the creation of the TID.
Tax incremental financing laws provide benefits to all taxing entities, city, county, public schools,
and technical college, by promoting development of new taxable value which otherwise would not
occur. It provides a tool for municipalities to make reasonable levels of investment using local
financing sources 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 TID 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 TID.
Purpose
The purpose of this TID is to promote redevelopment and blight elimination activities in a blighted
older section of the Central City. TID funds will be used to promote redevelopment through
acquisition and clearance, environmental remediation, infrastructure improvement, trail system, and
sea wall improvements, and construction assistance grants. Redevelopment will be consistent with
the adopted Marion Road/Pearl Avenue Redevelopment Plan and Comprehensive Plan.
The main impetus for implementation of this Project Plan is the Phase I development of a $45 million
434,000 square foot 312 unit hotel/condominium and convention center with marina. Subsequent
phases of development involve an additional 180 hotel/condominium units in Phase II and one or
more commercial buildings in Phase III. Tax increments will be used to pay for project costs that
may include the provision of a development assistance grant to the developer of the hotel and
convention center associated with implementing the Phase I development. Other development
anticipated to occur within the district involves the development of a two phase $8.3 million 102 unit
apartment project. Private development and the tax increment generated will be used to implement
significant trail system and sea wall improvements along the Fox River. Map 1 (in Appendix A)
illustrates the proposed district boundaries. Map 2 illustrates the phased hotel and convention center
development. Map 3 illustrates the proposed land uses within the district.
Boundaries/Leal Description
All of Lot 1 and Outlot 2 of Certified Survey Map (CSM) No. 5712 of Winnebago County Records; all of Lot
1 and Outlot I of CSM No. 5840 of Winnebago County Records; all of Lot 23 and Lot 24 of Block F of
Western Addition to Oshkosh; part of vacated Hancock Street; part of Jackson Street; part of Pearl Avenue;
part of Dawes Street; all of Riverway Drive; part of Marion Road; part of Lots 0, 1, and all of Lots 2, 3, 4, 5, 6,
7, 8, 9, 10, 11, 12, 13, and 14 of Block D of Western Addition to Oshkosh; all of vacated Jay Street lying
southerly of Marion Road; all of Block A of Western Addition to Oshkosh; part of the Fox River; and all of
Outlot 1 of CSM No. 5748 of Winnebago County Records, being in the S%s of the NE' , the NV2 of the SE%a,
and the SE% of the SE% of Section 23, Township 18 North, Range 16 East, First and Ninth Wards, City of
Oshkosh; Winnebago County, Wisconsin described as follows:
Beginning at the intersection of the centerline of Jackson Street and the centerline of Pearl Avenue; thence
northwesterly along the centerline of Pearl Avenue to the centerline of Dawes Street; thence southerly along the
centerline of Dawes Street to the southerly right-of-way of Dawes Street also being the northerly line of Outlot 2 of
Certified Survey Map (CSM) No. 5712 of Winnebago County Records; thence westerly along the northerly line of
said Outlot 2 to the west (western most) comer of said Outlot 2; thence easterly along the southerly line of said
Outlot 2 to the southeast (southern most) comer of said Outlot 2; thence northerly along the easterly line of said
Outlot 2 to the northeast corner of said Outlot 2 also being a point on the southerly line of Lot I of said CSM No.
5712; thence easterly along the southerly line of said Lot Ito the southwest right-of-way of Riverway Drive;
thence southeasterly along said right-of-way to the westerly line of CSM No. 5840 of Winnebago County Records;
thence southwesterly along the westerly line of said Lot Ito a point on the northeast line of Lot 23 of Block F of
Western Addition to Oshkosh; thence northwesterly along the northeast line of said Lot 23 and the northeast line of
Lot 24 of said Block F to the northwest corner of said Lot 24; thence southwesterly along the northwest line of said
Lot 24 and its extension to the centerline of vacated Hancock Street being 30 feet southwesterly of the southwest
comer of said Lot 24; thence southeasterly along the centerline of vacated Hancock Street being 30 southwesterly
of and parallel with the southwest line of said Block F to the intersection of the southeast line of said Lot 23
extended; thence northeasterly along the extended southeast line of said Lot 23 to a point on the westerly line of
Lot l of said CSM No. 5840; thence southwesterly along the westerly line of said Lot 1 to the northerly right-of-
way of Marion Road; thence along the southwesterly extension of the westerly line of said Lot 1 to the centerline
of Marion Road; thence westerly along the centerline of Marion Road to a point that is 70 feet southeasterly of,
measured at right angles to, the centerline of the right-of-way of the former SOO Line Railroad Company; thence
southwesterly, and parallel with the centerline of said railroad right-of-way, to a point on the northeasterly Shore
Line (U.S. Harbor Line) of the Fox River as established by a General Ordinance of the City of Oshkosh per
Document No. 276204 of Winnebago County Records; thence southeasterly across the Fox River to the
intersection of the westerly line of Outlot 1 of CSM No. 5748 of Winnebago County Records and the
southeasterly Shore Line (U.S. Harbor Line) of the Fox River as established by a General Ordinance of the City of
Oshkosh per Document No. 276204 of Winnebago County Records; thence southerly along said westerly line to
the southerly line of said Outlot 1; thence easterly along said southerly line to the easterly line of said Outlot 1;
thence northerly along said easterly line to a point on said southeasterly Shore Line (U.S. Harbor Line) of the Fox
River; thence northeasterly across the Fox River to the intersection of said northeasterly Shore Line (U.S. Harbor
Line) of the Fox River and the centerline of Jackson Street; thence northerly along the centerline of Jackson Street
to the point of beginning.
Said description containing approximately 1,863,800 square feet or 42.79 acres more or less.
Approximate land area of the district is 26.04 acres.
Name of District
The district is identified as City of Oshkosh Tax Increment District #21 (TID #21) — Fox River
Corridor Project.
Creation Date
The date of creation for the capture of all new taxable value created within TID # 21 shall be January
1, 2006. The value established as of this date shall be used as the base in computing any increments
that will accrue in the tax base for the district.
Project Costs and Improvements
Preliminary cost estimates to fund public improvement project activities associated with
implementing this Project Plan are estimated at $9.4 million. These costs include but are not limited
to: property acquisition, relocation, site clearance and preparation, environmental remediation,
miscellaneous right-of-way improvements, streetscaping, trail system, seawall construction, river
edge improvements, and administrative/engineering costs. Funds have also been included to provide
for a development assistance/incentive grant in an amount up to $6.4 million to potentially assist with
a portion of the development activity for the hotel/condo resort and convention center. Estimated
costs are shown in Table #1 below and are subject to change as more detailed plans and specifications
are developed prior to project implementation. A map of Proposed Improvements is provided in
Appendix A (Map 4).
Table # 1
Estimated Project Costs and Improvements
Activity
Cost
Year
Public Physical Improvement Expenses
Acquisition & Related Expenses
$3,044,000
2006
Demolition
$750,000
2006-07
Remediation and Unsuitable Soils
$991,600
2006-07
Trail Imrovements
$1,000,000
2007-2010
Sea Wall Improvements
$977,924
2007
Trail and River Edge Improvements
along south shore
$1,161,815
2008
Landscaping/Fencing buffer — west side
Plant 24 property
$80,000
2007
Riverway Drive Extension
$306,000
2007-10
Misc. ROW Improvements & Streetscaping
$300,000
2007-08
Subtotal
$8,611,339
2006-10
Administration Related Expenses
Design work on riverwalks/sea walls
$270,309
2006-08
Other — legal, real estate, planning,
engineering, environmental service
$575,000
2006-10
Subtotal
$845,309
2006-10
Subtotal Improvement's and Admin.
$9,456,648
2006-10
Development Assistance Grant*
- Direct Pay or Pay -As -You -Go
$6.4 million
2006-08
Total
$15,856,648
*The size of the actual development assistance grant is dependent on the timing grant dispersal and identified need of
grant amount.
4
All project activities, including the development assistance grant are proposed to paid through tax
increment generated within the district. Project activities and costs identified in Table 1 represent the
City's best estimate as to the activities needed and the costs associated with implementing the project
at this time.
Acquisition costs generally include, appraisals, purchase price, and closing costs. Demolition costs
include, asbestos testing, asbestos abatement, structural removal including removal of foundation,
tipping fees, filling and grading. Acquisition of two properties is required to implement this project
plan. The properties are the 6.7 acre Mercury Marine Plant 24 property and smaller 2400 square foot
20 foot wide strip of land owned by Wisconsin Public Service. Relocation activities will be
conducted under the appropriate state or federal guidelines. A component of acquisition costs
includes site clearance and environmental remediation of the Plant 24 property and funds have been
budgeted for those purposes.
The City's Comprehensive Plan, Downtown Action Plan, and Pedestrian and Bicycle Plan all have
identified the need to create a downtown looped riverfront trail and funds have been included to
design and implement such a trail system. Funds have been included in the Project Plan to construct
a 12 foot wide clear trail with an estimated cost of approximately $418 per lineal foot. Cost
components typically include construction of a 12 foot wide concrete walk with curbing, railings,
bollard and pedestrian lights, trash receptacles, benches, signage, and landscaping. The City is
currently developing a riverwalk plan with design guidelines document (Fox River Corridor
Rivenvalk Plan and Design Guidelines) with which the proposed riverwalk will be consistent. Figure
1 below illustrates a proposed segment of the trail being developed in the district.
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Seawall improvements will be required along the river edge to allow for docking and marina type
facilities as well as the riverfront trail. Steel sheet pile seawall improvements will be installed to
replace much of the existing concrete and wood pile structures. Steel sheet pile will be used to help
protect the shoreline, improve aesthetics, and allow for installation of the edge improvements.
Additionally, steel sheet wall will allow redevelopment to occur closer to the shoreline. The sheet
pile will be topped with a poured in place concrete cap with a 4 inch cantilever. The estimated cost
of the sheet pile is approximately $632 per lineal foot.
In order to buffer the adjacent older manufacturing sites from the proposed riverfront development,
funds have been included to provide a landscape buffer with fencing along the west side of the
Mercury Marine Plant 24 property. Funding is also being provided for a landscaping buffer on the
south side of the Fox River to provide a visual landscape buffer to the Jeldwen property. This
landscaping will also include installation of trail system, boardwalk, and seawall improvements.
Miscellaneous right-of-way improvements/modifications involve modifications to the median in
Marion Road to allow traffic to circulate from the hotel on the south side of the street to the surface
parking area on the north side of the street. Riverway Drive will be extended approximately 495 feet
to intersect with Marion Road. Cost components also could include streetscaping in various areas of
the district and utility improvements that service the district.
Environmental remediation and removal of unsuitable soils will be required throughout the district
and funds have been included for that purpose.
Administration related expenses include estimates for administrative, planning, professional,
organizational and legal costs. Components of these costs include, in general, cost of salaries and
employee benefits for City employees engaged in the planning, engineering, implementing and
administering activities in connection with the Tax Increment District, the cost of supplies and
materials contract and outside consultant services, and those costs of City departments such as the
City Attorney, Public Works, Finance, Community Development, Parks, and Transportation. Some
of these costs, especially with regard to private consultants, will be financed through various
borrowing issues while work from City employees will be paid from positive tax increments
remaining after annual debt service has been addressed.
It is possible that certain public improvements will be undertaken within the TID regardless of
progress on other planned projects within the TID. In that event, these projects may be funded with
other types of borrowing on either a temporary or long-term basis.
With regard to the Development Assistance Grant (DAG), two methods of assistance have been
identified to help provide gap financing and provide an incentive to support planned development
within this district. The methods identified include the Direct Pay method and/or the Pay -As -You -Go
method.
Direct Pay: In this alternative, portions of the project would be funded through the issuance of Lease
Revenue Bonds (LRB's) issued by the RDA. Bond proceeds would be used to fund discrete portions
of the project, such as land, parking, the conference center, and/or marina. Funded components
would be owned by the RDA and leased to the City as security for the bonds. The leased components
would then be subleased to the developer on an absolute net lease basis. The lease and sublease costs
would be identical to the principal and interest due on the bonds. The developer would receive a
credit against its lease payment in the amount of the tax increment received by the City from the
development, after the City has covered its debt service obligations on the bonds that were issued to
pay for land acquisition and related expenses, and for other public improvements/activities and
expenses. At this point the developer has identified a DAG in the amount of $6.4 million and funds
have been included in this Project Plan to reflect that amount based on initial proforma data, which
amount is also reflected in a term sheet approved by the City of Oshkosh. It should be noted that this
amount is a preliminary estimate that will be subject to further refinement based on additional
developer financial and project information as well as projected TIF increment revenues to support
estimated public improvements as well as the DAG. The final DAG amount will be subject to
approval by the City of Oshkosh.
Pay -As -You -Go: In this alternative the City/RDA would issue a TIF Revenue Bond to the developer
in the amount of the DAG. No funds would actually be disbursed to the developer with issuance of
the bond document. With issuance of the TIF Revenue Bond, the City is to appropriate funds to pay
the principal and interest on the bonds from funds that become available in the City's TIF increment
account (which occurs when tax payments are made on completed components of the project). The
developer would be able to pledge the bond document as additional collateral receiving a
construction loan and long term financing for the project through the private marketplace. In this
approach, the City retains a first claim on tax increments received in order to cover its debt service
obligations on bonds issued to pay for land acquisition and related expenses, and for other public
improvements/activities and expenses. After those debt service obligations are covered, the
developer would receive payment on the TIF Revenue Bond from tax increment. Because the
revenue stream to the developer would be realized at a later date with the Pay -As -You -Go method
rather than under a direct pay method, payments made to the developer may include a time value of
money calculation.
Method of Financing
The method of financing project costs will be through the issuance of lease revenue bonds, general
obligation notes, loans from the State Land Trust, or any other method of financing approved by the
Oshkosh Common Council. The City envisions that payment for both the public improvements and
any development incentives will be paid from lease revenue bonds issued by the Redevelopment
Authority. Lease payments will be paid from TIF increment revenue. Column 10 on the revenue table
in Appendix B illustrates the estimated revenue that will be available to service any bonds to be
issued.
Master Plan, Zoning, Building, and Other Code Considerations
The project elements proposed in the Project Plan conform to the objectives and conceptual
recommendations contained in the City's Comprehensive Plan, as approved by the Plan Commission
and Common Council. Additionally, project elements and proposed zoning conform to the goals and
objectives identified in the Marion Road/Pearl Avenue Redevelopment Area Project Plan and
Downtown Action Plan. The existing and proposed zoning are shown on Maps #5 and #6 in
Appendix A. It is proposed to change a portion of land within the district from M-2 Central
Industrial District to C-3PD Central Commercial District with a Planned Development Overlay,
which is the majority zoning in the area and that which allows residential type structures, not
currently a permitted use under the industrial zoning.
Economic Feasibilitv/Expectations for Development
Economic feasibility of this district is predicated on redevelopment occurring as blighted and
underutilized properties are redeveloped. At this time, the City is anticipating development costs
exceeding $50 million for the Phase I Hotel/Convention Center and Marina. The tax revenue
projections in Appendix B illustrate the anticipated value of the Phase I development area throughout
the life of the district and estimates the value of the development to exceed $72 million in 2032 when
the TID is retired. Appendix C contains excerpts from the staff report for the development plan for
Phase I development area.
Phase II development would involve construction of approximately 180 additional condominium -
hotel units that would be located on the west side of the Plant 24 property adjacent to the Fox River,
as well as the expansion of the commercial marina facility. This phase may also include construction
of an exhibit hall and parking deck on the north side of Marion Road in the area of the Phase I surface
parking. The estimated value of this development (without the parking deck and exhibit hall) is $20
million and should be completed as of 2010.
Phase III development would entail construction of a commercial building or buildings on the west
side of Jackson Street between Marion Road and Pearl Avenue. The developable area of this parcel
will be approximately 1.9 acres. Based on similar commercial developments in the area, the
development's value should be approximately $2.2 million and would be completed by 2011.
Additional development in the district involves the Parcel G property where it is anticipated that the
development will include two 51 unit apartment buildings, a community room with underground and
surface parking. The estimated value of this development is approximately $8.3 million and will be
developed in 2 phases. Phase I will entail the development of 51 units and will be completed by
2008. Phase II would involve the development of an additional 51 units and community room. Phase
II should be completed by 2010. Phase I is projected to have a development value of approximately
$4 million and Phase II value of $4.3 million. Appendix D contains excerpts from the staff report for
this development.
Table III in the Supplemental Data section summarizes the anticipated value of all properties in the
district and estimates the value of the district at $96.5 million in 2032 when the TID is retired in
2032.
Promotion of Orderly Development
The elimination of blighted and underutilized properties within a planned development district as
well as in a designated redevelopment area promotes orderly development by ensuring that land is
developed to its highest and best use in a manner consistent with appropriate local plans. Most
redevelopment project activity within TID #21 will be reviewed by the City's Plan Commission,
Redevelopment Authority, and/or the Common Council to ensure compliance with the goals and
objectives of various plans as they relate to implementation of this Project Plan. As such, this Project
Plan is consistent with the redevelopment plan for this area (Marion Road/Pearl Avenue
Redevelopment Project) and the City's Comprehensive Plan.
Proposed Uses and Existin2 Conditions
The proposed uses in the district are identified in Map #3 in Appendix A. The district contains
current or former older industrial properties and land in need of environmental remediation. Several
of the parcels have had buildings and structures demolished due to deterioration of building or site
improvements constituting a blighted area as defined in State Statutes 66.1333(2m)(a). This blighting
condition was found to impair the sound growth of the community and was a primary factor in
declaring this area as blighted in the Marion Road/Pearl Avenue Redevelopment District Project
Plan.
The contributing factors in finding the area as blighted are defined in Section 66.1331(3)(a) and
66.1333(2m)(b), Wisconsin Statutes. Properties were identified as "blighted" per the following
selected standards identified in Wisconsin Statutes, Section 66.1333 (2m)(b)3(bm):
A. Dilapidation, deterioration, age, or obsolescence;
B. Faulty lot layout in relation to size, adequacy, accessibility or usefulness, unsanitary or unsafe
conditions (includes structures that are nonconforming per zoning district standards);
C. Deterioration of site improvements;
D. Property which is predominately open and which because of obsolete platting, diversity of
ownership, deterioration of structures or of site improvements, or other such factors that
substantially impairs or arrests the sound growth of the community.
Map # 7 in Appendix A identifies existing conditions and land uses.
Proposed land use and zoning in the area is intended to be consistent with the goals and objectives of
the City's Comprehensive Plan and the Marion Road/Pearl Avenue Redevelopment Area Project
Plan. In that regard, the district's proposed zoning is C-3 PD Central Commercial District with a
Planned Development Overlay. The C-3 District allows commercial, retail, multiple family, and
mixed -use commercial/residential uses and is appropriate in older central city areas. The PD overlay
is appropriate, per Section 30-33 of the Zoning Ordinance, as this is a designated redevelopment area.
Non -Project Costs
It is anticipated there will be no non -project costs related to implementing this Project Plan.
Relocation
Relocation of individuals or businesses will be carried out in accordance with applicable relocation
requirements set forth by the State of Wisconsin and/or federal regulations.
9
Findings and Report to the Joint Review Board
• The district is a blighted area TID;
• More than 50 percent of the real property within the TID is blighted within the meaning of
Section 66.1105(2), 66.1333(2m)(b) Wisconsin Statutes;
• Not less than 50% of the structures/properties within the TID are in need of rehabilitation or
conservation within the meaning of Section 66.1333, Wisconsin Statutes;
• Property that has been vacant for the last 7 years does not exceed 25% of the area of the district:
• The redevelopment of the area will have a significant positive impact on the value of all real
property in the District and is in keeping with the goals and objectives of the Comprehensive
Plan;
• Were it not for the financing mechanisms provided through Tax Increment Law, planned
redevelopment of this district would in all likelihood not occur;
• The primary objective for creation of TID #21 Project Plan is for blight elimination and to
promote redevelopment;
• The Project Plan is feasible and is in conformity with the City's Comprehensive Plan;
• Improvement of the area is likely to enhance significantly the value of substantially all of the
other property in the district;
• The project costs identified in the Project Plan relate directly to eliminating blight and
rehabilitating the area;
• The equalized value of taxable property within the district plus the value increment of all existing
districts within the city does not exceed 12 percent of the total equalized value of taxable property
within the city.
Supplemental Data
The project plan contains a listing of project costs and statement that the majority of costs will be
paid for through tax increments generated within the district. Additional increment will be generated
as redevelopment occurs within the district. Property owners in the district benefit from
improvements and should not pay for them because most of the blighting influences were developed
at a time prior to modem zoning, planning, and building code considerations. The benefits received at
the end of the TID timeframe will be the elimination of blighting influences in the area and increased
property tax values from redevelopment.
The share of tax increments paid by property owners within the district, based on the estimated
increment from the anticipated development discussed in the Economic Feasibility section of this
document.
10
Table III District Increment & Revenue Projections
Increment Equalized Increment
Value Tax Rate Received City County School
2007 5,724,987 22.19
2008 30,472,222 22.19
2009 37,057,560 22.19 127,037 44,361 30,375 41,516 9,731
2010 47,491,247 22.19 676,179 236,122 161,674 220,975 51,795
2011 47,577,841 22.19 822,307 287,150 196,614 268,730 62,989
2012 77,384,913 22.19 1,053,831 367,998 251,971 344,392 80,723
2013 80,549,430 22.19 1,055,752 368,669 252,430 345,020 80,871
2014 81,250,128 22.19 1,717,171 599,636 410,576 561,172 131,535
2015 81,964,840 22.19 1,787,392 624,157 427,365 584,120 136,914
2016 82,693,847 22.19 1,802,940 629,587 431,083 589,201 138,105
2017 83,437,433 22.19 1,818,800 635,125 434,875 594,384 139,320
2018 84,195,892 22.19 1,834,976 640,774 438,743 599,670 140,559
2019 84,969,519 22.19 1,851,477 646,536 442,688 605,063 141,823
2020 85,758,619 22.19 1,868,307 652,413 446,712 610,563 143,112
2021 86,563,501 22.19 1,885,474 658,407 450,817 616,173 144,427
2022 87,384,481 22.19 1,902,984 664,522 455,003 621,895 145,769
2023 88,221,880 22.19 1,920,844 670,759 459,274 627,732 147,137
2024 89,076,028 22.19 1,939,062 677,120 463,630 633,685 148,532
2025 89,947,258 22.19 1,957,644 683,609 468,073 639,758 149,955
2026 90,835,913 22.19 1,976,597 690,228 472,604 645,952 151,407
2027 91,742,340 22.19 1,995,930 696,979 477,227 652,270 152,888
2028 92,666,897 22.19 2,015,649 703,865 481,942 658,714 154,399
2029 93,609,945 22.19 2,035,763 710,888 486,751 665,287 155,939
2030 94,571,853 22.19 2,056,278 718,052 491,656 671,992 157,511
2031 95,553,000 22.19 2,077,205 725,360 496,660 678,830 159,114
2032 96,553,769 22.19 2,098,549 732,813 501,763 685.806 16n 749
Total
11
APPENDIX A
PROJECT MAPS
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13
Map
ID
Parcel #
Owner
Local Address
Class
Description
Dwelling
Units
Census
Tract
Zoning
1
90102440000
CITY OF OSHKOSH
0 PEARL AVE
2
VACANT PARCEL
0
0005
C-3PD
2
90102430300
CITY OF OSHKOSH
DAWES ST
4
VACANT PARCEL
0
0005
C-3PD
3
90102000000
CITY OF OSHKOSH
JACKSON ST
4
VACANT PARCEL
0
0005
C-3PD
4
90102490000
CITY OF OSHKOSH
460 MARION RD
4
CITY OF
OSHKOSH WATER
TOWER
0
0005
C-3PD
5
90102270000
WIS PUBLIC
SERVICE CORP
MARION RD
4
VACANT PARCEL
0
0005
M-2
6
90102300000
MERCURY MARINE
449 MARION RD
C
MERCURY
MARINE PLANT 24
0
0005
M-2
7
90102030000
CITY OF OSHKOSH
JACKSON ST
4
VACANT PARCEL
0
0005
C-3PD
8
90102210000
CITY OF OSHKOSH
JACKSON ST
4
VACANT PARCEL
0
0005
C-3PD
9
90102220000
CITY OF OSHKOSH
MARION RD
4
VACANT PARCEL
0
0005
C-3PD
10
90900010100
JELD-WEN
WINDOWS &
DOORS
W 6TH AVE
C
VACANT PARCEL
0
0012
M-2
20
APPENDIX B
HOTEL/CONDO/CONVENTION CENTER PROJECT
TAX REVENUE PROJECTIONS TABLE
City of Oshkosh, Wisconsin
Tax
Increment
Revenue Projections • Five Rivers Project
Fox
River Corridor
Tax Incremental Financing Disbict 021
W" e,rtnae vvre
Value
Tux Tax
R4roao4
Ctniaw
We to
Tc
n0
PrgeIed
PV
Vahetim
aeawuoi,nd tawwanu
va5¢xiR
Person
Es&r d
Base
Nceentl
EquaftW
Reeue
Arvud
Period
Year
tr.Cu+z+aes t+pmmexs
9Raxm
Rope
TmaloeVa'ue
Vale
(6)-(11
Tax Re's
(8)11000(9)
fRwewe
Erdn9
(1)
R) (3)
(4)
(5)
(6)
(7)
(8)
(s)
(tot
1111
(11)
&2035
1400,000
1nrzo06
-
4,4ao.aeo
1/12W7
10,124,981 10124,987
10]24,931
10,124987
4.400.600
5,724,987
21190
4/120
,J1/m(
22,541,135 32,659,723
32872,222
2004010
34,812.222
4.4%03
30412,222
211&
8/120
111/2 9
6213601 38883,330
39,743.274
1,114,286
41,457,560
1,460,000
31,051,560
22190
327,037
101,908
9/120
1112010
5591601 44,478,137
46132,94)
1,42x511
47,561518
4,4WU
43161.518
2219)
616,119
5CS317
9/120
1112011
555.385 45043522
47,620991
1,112851
48763846
4,460,003
44,363.&8
22160
822331
581,582
Men'.
1112012
483.963 45,527,485
49,057,314
857,143
49,914.51)
4,40,000
45511,11
21390
951,154
63x036
9/1201
1112033
50038,521
5)3,129
50603,450
4.40603
4x260.950
211m
9&,434
613,853
Simi
1112014
51,039,292
785714
51,325,405
1,400000
4x92&O%
211m
1.09961
591,338
&'1201
1112015
51060,618
17221,121
&,181,601
4.404000
60,381,301
221m
5,025,3&
563.)30
9'11201
3112016
53.101,219
2332906
55,434,185
4,460030
51,031,185
221m
1.041,265
531,515
9'1201
1/1)2011
54,163,305
1544,038
56,107,393
4,40600
51,701,393
221m
1,117,912
&1,609
9n2O1
1112013
55,24x511
1.555271
5&8O842
4,4MW0
52401,&2
211m
1,132449
515,405
4'1201
11&019
-
5,351,502
1,165,453
51,511,955
4.4000
$3111955
221m
1,147,381
4%332
9N201
1W?020
-
57,418,532
777,635
5&25x168
4,4%00
5385x168
211m
1,162)91
455589
91202
1112021
5&62x10
3x8818
59016921
4,4M03O
51,61x921
22160
1,118681
444,09
9nf202
1112022
59.017.665
3703600
63504,555
4.4%600
59,104,555
221m
1,195058
42.793
4'11202
In2023
049&,618
3,171,163
&,171.441
4,460.03
5%711,441
211m
1,211,949
402593
9h202
1/2024
-
62216,612
2&5€36
&,862248
44W,W0
60,462248
221m
1,313530
460.602
9/1202
111/2025
(3,460$14
2114503
63513153
4,4%000
61,111,453
221&
1,324328
3&,449
911202
1112026
-
64,1&163
3587,381
66,311544
4.460,003
£1,911514
223m
1,341,657
368956
,4/1202
1112027
66024,766
1,058254
61,083.01
4.4MW3
62683021
211m
1,351,528
350536
x'120
122028
6),315,262
529,121
61,871389
1,4%060
63,414,369
221m
1,3139&
333,123
9/1202
1(112029
-
6&692161
5.040,482
13732&9
4,4%(00
69.331&9
221m
1,39936
316,659
9/1202
1112030
70,466.010
1,320.413
74,386,424
4.4%00
69,99&424
221m
140$ 497
301,036
4'V]3
3/12601
-
11,467,330
3,660,345
75,061.615
4.4%(O9
10661,615
221m
1,538.491
30]2
9'1203
1/3(2032
72896611
28%276
75,776953
14%(60
)1,376953
221m
1552999
2926$
9/1203
Nmxe ttn7lmsby SPR G5rm t aw t.f
o.vom5wwe MM 3% frtI47CA5 M FM.dae Gw, flow
Assumptions:
(2) & (3) Project information was supplied by Developer Oct 2005, for Phase I on, and was slightly modTed as fo6ows:
• NOI discounted to 25%with a Cap Rate of 11% to calculate taxable value. Opening Year assumed to be 2008.
- Residenfalvalue of$368,852 assumed assessed at 90%, and phased In at 50% 2007,25% in 2008,12.5% in 2009,12.5% In 2010.
Taxable value projections not available for Phases II and Ili.
100% of value used as equalized assessed value
(4) Total projected real estate taxable valve, with annual inflation of 2%
(5) Includes 50% of $4M initial purchase o1FF&E, that depreciates over 7years, and then is repurchased at cost with 4.5% annual increase. These values are not
inflated,
(6) Total estimated taxable value for calculating Increment including Inflation as described herein.
(7) Base value of Tax Incremental District currently estimated by the City at $4.4M, subject to change
(e) Tax Incremental District increment is (6) minus (7)
(9) Projected Equalized Tax Rate is estimated for Pay 2006 at 22,190 per $1,000 of taxable value.
(10) Annual Tax Increment Revenue is equal to (8) divided by $1,000, and multiplied by (9). Revenue is received two years after value is added (value added In 2006,
vim be assessed in 2007 for taxes payable In 2008.
(11) Present Value of Sea Annual Tax Increment Revenue is based on revenue received n column 10, discounted at 6.5%. from 31112006.
(12) Period ending date, Is the latest date increment revenue received each year.
21
Reyaed lvITOO5 ySP $TWn &2sd oaexn5R,t role, mFmnnosAslo Ft C Fb,.
APPENDIX C
FIVE RIVERS DEVELOPMENT
PLAN COMMISSION STAFF REPORT
STAFF REPORT
PLAN COMMISSION
NOVEMBER 15, 2005
ITEM II: CONDITIONAL USE PERMIT/PLANNED DEVELOPMENT REVIEW/
AND ACCESS CONTROL VARIANCES FOR THE DEVELOPMENT OF
A MIXED USE HOTEL/CONDOMINIUM RESORT AND CONVENTION
CENTER AT THE SOUTHWEST CORNER OF JACKSON STREET AND
MARION ROAD — Barry Polzin and Five Rivers Resort, petitioners, City of
Oshkosh, owner
PROPOSAL/BACKGROUND
The petitioners are proposing to develop a 434,000+ square foot hotel/condominium and
convention center on a redevelopment parcel within the Marion Road/Pearl Avenue
Redevelopment area. The twelve -story development will contain a variety of uses including 312
hotel units, a convention facility, marina and yacht club, pub/restaurant, board rooms, club
rooms, office space, retail space, indoor/outdoor water feature, spa, arcade, and fitness center
(see developer project narrative titled "Uses and Design").
Parking will be provided with approximately 116 stalls at the main complex site (both surface
and underground) and 332 in a surface parking lot across Marion Road. Access will be provided
to the main complex via 4 driveways along Marion Road (Access Control Ordinance permits a
maximum of 2 driveways). The surface parking lot contains three driveway accesses with two to
Marion Road and one to Riverway Drive. Total parking available is 448 stalls.
The twelve story, 200 foot tall structure will be constructed with natural stone for the lower 2-3
floors and a cast stone for the upper floors. The attached renderings illustrate the two main
facades, front and rear. At the front of the structure along Marion Road, a water feature with
waterfall and pond are planned. The building envelope encompasses approximately 107,446
square feet, paving 201,929 square feet, and landscaping 232,369 square feet. No exterior details
have been provided for the yacht club.
The site plan indicates an outdoor terrace area around the convention facilities and outdoor
seating for the pub/restaurant. The site plan illustrates the riverwalk along the parcel's frontage
with connections from the resort to the riverwalk. The riverwalk would be part of the looped
riverfront trail system in the Fox River Corridor.
Total building occupancy/capacity will be approximately 2,500 persons. The estimate number of
employees will be 100 with approximately 40 employees per shift. The estimated number of
visitors/customers on site at the busiest time would be 2,000.
The project is the first phase of a multi -phased development that will involve construction of
additional condo -hotel units to the west on a 5 acre site in Phase 2, and commercial development
to the north along Jackson Street on a 1.9 acre site in Phase 3 that is currently shown as
greenspace. Attached is the map illustrating the phases of development, however, only Phase I is
under consideration at this time.
CUP/PD — Five Rivers Resort CUP/PD 22
STAFF REPORT PLAN COMMISSION
ITEM II NOVEMBER 15, 2005
The items being considered at this time include:
➢ Conditional Use Permit/Development Plan Review for the Hotel and Convention Center;
➢ Access Control Variance for a total of 4 driveways to Marion Road at the main facility site;
➢ Access Control Variance for a total of 3 driveway accesses from the surface parking lot (two
to Marion Road and one to Riverway Drive).
In order to implement the phased development plan, the Redevelopment Authority proposes to
acquire the Mercury Marine Plant 24 property up to the former railroad corridor, which is owned
by the City. The City of Oshkosh owns lands north of Marion Road. Because a portion of Phase
1 includes the Mercury Marine property that is zoned industrial, a zone change will be required
to implement the development as proposed: Once a purchase agreement is arrived at for the
Mercury Marine Property, rezoning of the parcel will be initiated.
Subject Site
Existin` Land Use
Zonin
C-3PD Central Commercial District with a Planned
Undeveloped
Development Overlay and M-2 Central Industrial District
Adjacent Land Use and Zoning
Existin ,Uses
Zonin
North
Institutional (religious) and retail (gas station)
C-3 PD
South
Industrial across the river
M-2
East
Commercial (City Center)
C-3 PD
West
Industrial (Mercury Marine & Lamico
M-2
Coiii
reliensive
Jiaii Laiid Ilse Recommendation,
Land
Use'
10 Year
Land Use
Recommendation
Mixed -Downtown
Development
20 Year
Land Use
Recommendation
Mixed -Downtown
Development
ANALYSIS
In reviewing the appropriateness of the request for this development staff has reviewed it for
consistency with adopted plans for the subject area and the Zoning Ordinance. With respect to
local plans, the development as proposed is consistent with the following plans:
■ Economic Development, including tourism, revitalization of the downtown and Central
City areas.
23
CUP/PD — Five Rivers Resort CUP/PD
STAFF REPORT
ITEM II
PLAN COMMISSION
NOVEMBER 15, 2005
➢ Comprehensive Plan —
■ Land Use Element, including recommended land use and goals, objectives, and actions
that specifically includes encouraging redevelopment of the Central City to be oriented
toward the lakefront and riverfront as well as incorporating permanent open space.
■ Agricultural, Cultural, and Natural Resources, including increasing public access to the
waterfront.
■ Transportation, including providing a looped trail system along the Fox River.
➢ Downtown Action Plan, relative to maximizing economic development along the Fox River
and maximizing riverfront linkages.
➢ Marion Road/Pearl Avenue Redevelopment Plan, identifying this area as appropriate for
redevelopment.
➢ Pedestrian and Bicycle Circulation Plan, for the riverwalk element.
The land use as proposed as well as the development and site plan are consistent with the City's
vision of development for this area as identified in the aforementioned plans.
With regard to the Zoning Ordinance, the development was reviewed for consistency with the
Planned Development guidelines and conditional use permit standards and found consistent with
these standards and principles. More specifically, the development is consistent with the Planned
Development review criteria which identifies the area as suitable for the proposed development;
its compatibility with adjacent development or planned development; utilization of site planning
principles common to high quality development; mitigation of potential negative impacts from
the development; and conformance with the Comprehensive Plan, or other adopted City plans.
With respect to the Access Control Variances, the site plan was reviewed by the Transportation
Director and Director of Public Works who support the current driveway configuration. Marion
Road acts as a local type street where the number of accesses to service this development will not
negatively impact on the street's ability to accommodate traffic loads.
With regard to the base standards of the Zoning Ordinance, all base standards (setbacks, parking,
etc,) appear to have been complied with, with the exception of the height of the structure, which
per the Ordinance is 45 feet. The structure's proposed height at approximately 200 feet is
generally consistent with heights of other buildings in the area (University dorms, Court Tower,
etc.) as well as being consistent with heights of buildings generally located in the urbanized
central city and downtown areas. A variance will also be required from the Winnebago County
airport height limitation requirements that allow for a maximum height of 165 in this area.
CUP/PD — Five Rivers Resort CUP/PD
24
STAFF REPORT
ITEM II
RECOMMENDATION/CONDITIONS:
PLAN COMMISSION
NOVEMBER 15, 2005
Staff recommends a finding that the CUP/PD request for the Hotel and Convention Center is
consistent with Section 30-11(D) and 30-33(E)(b) of the Zoning Ordinance and the request and
Access Control Variances be approved with the following conditions:
1) Height variance from Winnebago County.
2) Final approval of building elevation materials and color by the Department of Community
Development.
3) Zone change of the M-2 portion of the development to C-3 PD.
4) Acquisition of non -City owned lands to implement Phase 1 development.
5) Approval of landscape plan by the Department of Community Development.
25
CUP/PD — Five Rivers Resort CUP/PD
Uses and Design
Five Rivers Resort is a 312 room condo/hotel and conference center on the Fox River in
downtown Oshkosh. At approximately 430,000 square feet (over nine football fields), the
12 story structure is roughly 200 feet tall and over 800 feet in length.
Among its many amenities, the resort boasts a 58,000 square foot, state-of-the-art
convention center making it one of the largest and arguably one of the finest venues the
state has to offer.
Other amenities include; indoor/outdoor themed swimming pools and spa, steam rooms, a
massive fitness facility, game room/arcade, private club rooms, restaurants, shops, room
service, valet parking, concierge service, a 100 -slip marina with yacht club and a full -
service spa.
Architecturally, the frame of the building will be constructed out of steel and concrete
with an external insulation finish system (EIFS) as siding. The external portion of the
building has been designed to look as though the entire structure was built on a massive
rock. The first 30 feet being stone construction and siding including two massive
waterfalls, connected by a river, in the front of the building. Professional landscaping
including plantings, flower beds, stone outcroppings, and earthen berms grace the
perimeter of the building.
The resort's single loaded corridor puts every room in the hotel on the water. The private
decks and massive windows throughout the complex along with public and private
terraces which span the entire length of the building, offer breathtaking views of the Fox
River and Lake Winnebago.
The interiors will be equally spectacular. Utilizing the services of some of the top
consultants and designers in the country, the hotel promises to please even the most
discriminating guests. Slated to be a four -star hotel, the individual condo/hotel units have
been meticulously designed with the hotel guests in mind. The public space, lobby,
corridors, restaurants and convention center will be appointed with truly unique
furnishings not seen in your typical hotel environment.
Five Rivers Investments, LLC 3382 Oakwood Court, West Bend WI 53095
Phone 414-881-0300 Fax 262-675-6556 a -mail tsdoie6n7vahoo.com
www.flvcriversresort.com
26
Ground Floor Plan
With a few exceptions, the ground floor is dedicated mainly as conference space and
occupies roughly 127,000 s.f.
Marina and Yacht Club — The permanent structure marina will contain up to 100 slips
and will accommodate boats up to 50 feet in length. The individual docks will have
water, electricity, and cable/wireless. Pump -out service will be available as well as dock
service. Residents of the marina will have full use of the resort amenities, such as
swimming pools, fitness center, arcade, and spa to name a few. The private yacht club
will have bathrooms, showers, a meeting/gathering room, kitchen, and an outdoor
covered patio with tables, chairs and grills.
Conference Facility (68,113 s.f. total) — As one of the largest conference centers in the
state, this area includes our 16,500 s.f. grand ballroom which can be partitioned into three
separate rooms. Two additional rooms, at 3000 s.f. and 6500 s.f., may serve as separate
ballrooms or can be divided into eight separate break-out rooms. All of these venues are
attached to a total of over 22,600 s.f of water front, pre -function space, and over 18,000
s.f. of terrace. Total break-out rooms available will be 15, and will occupy roughly
15,000 s.f.
Executive Board Rooms (2100 s.f.) - Two large, waterfront executive boardrooms are
adjacent to the waterfront break-out rooms and will be complete with their own small
break-out office, reception area, and wet bar. The main board rooms will feature seating
for up to 18 guests and will be equipped with all of the state-of-the-art electronics.
On the other side of the 3000 s.f. break-out rooms will be our business center and banquet
managers' office. Across the hall, will be two large restrooms with two additional
restrooms adjacent to the Pub.
Three sets of staircases and four hi -speed elevators will move customers to any floor in
the facility, along with a couple of back -of -house freight elevators for the staff.
Back -of -house runs from the delivery area all the way through the complex to the
nfechanical/Iaundry room. This area includes ample storage space, a banquet and pub
kitchen and mechanical and staff rooms.
Waterfront Pub (3000+ s.f.) - The Pub will be accessible both from the river walk and
from inside the resort via the main elevators or the staircase off the main lobby. The
intent of the pub will be to attract the local community, hotel guests and water enthusiast
as it will be one of only a handful of waterfront pubs/restaurants on the Winnebago
system. The menu will contain light fair such as hamburgers, sandwiches, and fried
foods. The atmosphere and dress will be casual.
Five Rivers Investments, LLC 3382 Oakwood Court, West Bend WI 53095
Phone 414-881-0300 Fax 262-675-6556 e-mail tsdoiEc ,yahoo.com
wnnv. fi ve riv a rs res o rt. c o m
27
The main entrance off Marion Road and adjacent to Jackson Street will feature stunning
views of two large waterfalls flowing over massive rock outcroppings and a meandering
stream running from the check -in area east over to Jackson street.
Parking (485 stalls) - Parking will consist of 100 stalls with an additional eight, 2 -car
private garages under the main complex plus a 350 stall, surface parking lot located
across Marion Road. Valet parking will be provided.
Second Floor Plan
The second floor plan is comprised mostly of public space and occupies about 52,000 s.f.
The Club Rooms (3600 s.f.) — At roughly 1800 s.f each, these smoking and non-
smoking club rooms will prove to be the pride of Five Rivers Resort. For a small fee, the
guest of either of these exclusive club rooms will enjoy a fireplace with fine, leather
furnishings, a card table, a billiard room, a wet bar, seating for up to 35 guests, a private
patio and concierge service.
Office Space (4000 s.f.) — Two main offices totaling 2300 s.f. are located on the west end
of the lobby. The sales office will be divided into a couple of separate offices/meeting
rooms and will be used by the on -site sales staff.
Behind the front desk are a series of smaller offices and will be occupied by hotel
employees/staff.
Our drive -up, check -in area will be an elevated grand entrance with views of a beautiful
waterfall cascading down into the pond and river below. Guest arriving at the resort will
be greeted with a large covered parking area for check -in that will house up to 18 cars.
under roof.
The lobby will have an equally spectacular view of yet another waterfall coming off the
atrium into the pond below. Four hi -speed, glass elevators, and an elegant, curved
staircase will be on either side of the waterfall.
In addition to a couple of seating areas, the lobby will also serve as the check -in area,
featuring the front desk and concierge.
Retail (2700 s.f.) — Adjacent to the front desk will be our retail outlet. While not intended
to function as a full service grocery store, this outlet will provide staples, such as milk,
bread, juice, eggs, soda, candy, toiletries etc. and will also serve as a boutique with items
for sale, such as T -shits, hats, coffee mugs etc.
Five Rivers Investments, LLC 3382 Oakwood Court, West Bend WI 53095
Phone 414.881-0300 Fax 262-675-6556 a -mail tsdoiena,vahoo.com
www.t iveriversresort.co m
28
Food and Beverage Service (14,000 s.f.) — About eight feet up from the lobby floor is
the atrium featuring the club rooms, lounge, restaurant with 3 -tiered seating, private
dining, cafe and kitchen, all of which is attached to either the outdoor patio, balcony or
TIKI Bar. Lots of glass, as depicted by the elevation drawing, offers fantastic views of
the Fox River and Lake Winnebago.
Water Park (24,000 s.f.) — The resort would not be complete without our massive
indoor/outdoor, themed water park. The 13,000 s.f. indoor complex features a large
men's and women's locker room, complete with his and her steam rooms. Inside the pool
area will be a large, heated adult pool, a zero -depth kiddy pool, and an elegant
indoor/outdoor spa, which will be open year-round.
The outdoor water complex will feature another large, heated swimming pool and will be
a combination adult and kiddy pool with a zero -depth entrance at one end of the pool.
Adjacent to the outdoor pool will be the TIKI Bar, which will also serve as an outside
seating venue for the cafe. It will be serviced by the adjoining kitchen for food service
and stocking requirements.
Third Floor Plan
In addition
to housing the spa, arcade,
and fitness
center, the third floor is the starting
floor for all
of the condominium units.
This floor
occupies roughly
52,000 s.f.
Spa (2800 s.f.) — Located directly above the hotels main lobby, the spa is easily
accessible for hotel guests and the general public. This will be a leased space and will
likely be operated under a "flagged" name such as Aveda.
Arcade (4600 s.f.)
— Across the
atrium from
the spa is the arcade or "kiddy casino"! This
will be operated on
a percentage
basis with a
company called Game Room Gear who
specializes in arcades
for hotels,
water parks,
and restaurants.
Fitness Center (1600 s.f.) — This will not be your standard hotel -type fitness center by
any means! With lots of glass overlooking the indoor water park on one side and the Fox
River on the other side, the west wall will be solid mirrors. The floor will be outfitted
with the latest in commercial aerobic and strength training equipment including multiple
sets of free weights. Separate zones will be utilized for both the aerobic and strength
training areas offering the user a level of privacy. TV's will accompany each piece of
aerobic equipment along with a set of TV's in the strength training areas.
Condos (29,000 s.f.) — A total of 18 condominium units, featuring 7 separate floor plans,
will be available on the third floor.
Five Rivers Investments, LLC 3382 Oakwood Court, West Bend WI 53095
Phone 414-881-0300 Fax 262-675-6556 a -mail tsdoig6Iwahoo.com
www.flvcriversresort.com
29
Fourth - Twelfth Floor Plan
With the exception of the varying number of units available on each floor, the fourth
through the twelfth floor are reserved for only condominium units. Each floor is equipped
with four hi -speed elevators, staircases, vending service, and housekeeping.
Summary
Oshkosh is about to embark on one of the largest development project in the Cities
history. Five Rivers Resort is a massive project both physically and in its projected
economic impact to the City of Oshkosh and its residents. This destination resort, with its
stunning elevations and projected levels of occupancy will be the catalyst for tremendous
growth for the City. Oshkosh has made great strides in the last ten years and has
instituted an exciting plan for its waterfront. We firmly believe that Five Rivers Resort
will dramatically enhance the waterfront and will work synergistically to accelerate
future development.
This is clearly not one of your run-of-the-mill projects. Five Rivers Resort will be one of
the top resorts of its kind in the State and will soon become a top destination for State
Association conventions and leisure travel. In today's competitive environment, the time
has come to think outside of the box. It's all about big ideas, growth and taking action.
Five Rivers Investments, LLC 3382 Oakwood Court, West Bend WI 53095
Phone 414-881-0300 Fax 262-675-6556 e-mail tsdoiena vahoo.com
www.flveriversresort.com
30
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APPENDIX D
PARCEL G DEVELOPMENT
PLAN COMMISSION STAFF REPORT
STAFF REPORT
PLAN COMMISSION
NOVEMBER 16, 2004
ITEM III: CONDITIONAL USE PERMIT/DEVELOPMENT PLAN REVIEW FOR A
MULTIFAMILY DEVELOPMENT ON PARCEL G IN THE MARION
ROAD/PEARL AVENUE REDEVELOPMENT AREA Concord 30, LLC,
petitioner, City of Oshkosh, owner
PROPOSAL
Concord 30, LLC is requesting a Conditional Use Permit/Development Plan Review to construct a new
multifamily building on Parcel G in the Marion Road/Pearl Avenue Redevelopment Area. The project
consists of three structures that will contain a total of 102 apartment units and a community room
facility. Each three story multifamily building will include approximately 20,000 square feet of area
per floor. Approximately one third of the units will have one bedroom and two thirds will have two
bedrooms.
The community room/office facility which connects the two buildings will be approximately 1,200
square feet and one story and will act as a main entrance for the entire development. A total of 186
parking spaces are proposed, with 116 underground and 70 surface spaces. The site plan shows the
potential to install 18 additional surface spaces near the community room in the future.
The project is designed to be constructed in two phases. The first phase will include the 51 unit
building on the west portion of the site and associated underground and surface parking. The second
phase will include the second multifamily building and the community room/office. The structures
will have a design complimentary to the building the same developer built on Parcel C but will provide
a higher level of amenities.
After reviewing the initial project proposal, the Redevelopment Authority directed the developer and
city staff to refine the proposal to address interest expressed by the university in the redevelopment
area. The developer met with the university and added the community room to the project as a result.
The 1,200 square foot community room will provide an opportunity for community/university interface
in the forms of community presentations, forums, etc. as well as to provide an additional amenity for
tenant use. The area will serve as the main entrance for the entire development, and will include
kitchen facilities, office space and an outside patio.
ANALYSIS
Existing Land Use Zoning
C-3 PD
Adjacent Land Use and Zoning
North Multiple Family; Church C-3 PD
South Industrial M-2
East Undeveloped City Redevelopment Parcels C-3 PD
West Multiple Family C-3 PD
37
STAFF REPORT PLAN COMMISSION
ITEM III -2- NOVEMBER 16, 2004
The Comprehensive Plan targeted the Marion/Pearl Avenue area for redevelopment and in 1998
redevelopment activities began. Since that time, redevelopment plans have been developed and
approved, a TIP District has been established and acquisition, demolition and environmental work and
public utility and street construction have been undertaken.
Private investment in the area to date has resulted in the following development;
• Five new multifamily buildings (44 units) in the Radford Village Development
• A 20,000 square foot multi tenant commercial development, Radford Square
• A 5,400 square foot commercial building occupied by Subway and Wingers Bar and Grill
• A 3,400 square foot commercial building containing Madison Tanning
• A 50,000 square foot multifamily building containing 54 units, Concord Place
Development Plan/Review Criteria
Each development proposed in a Planned Development area must be reviewed using standards
contained in Section 30-33(E)(3)(b) of the Zoning Ordinance. These standards include reviewing
proposed development for suitability of the site for redevelopment as well as compatibility with the
overall area. It must also be reviewed to the extent that it is in conformance with the base standards of
the Zoning Ordinance and conformance with the Comprehensive Plan or other adopted city plans. A
development must also be reviewed for utilization of site planning principles common to high quality
development and mitigation of potential negative impacts.
The proposed use is in conformance with the standards of the base C-3 zoning district. The site is part
of a designated redevelopment area that is currently vacant and suitable for redevelopment. The
proposed use conforms with the Comprehensive Plan, Redevelopment Plan and Tax Incremental
Project Plan for the area. The project also appears compatible with abutting uses that are located
outside the redevelopment area.
The proposed buildings are located close to the sidewalk, creating a "street wall" effect. This is in
keeping with traditional urban design in urban areas and consistent with the multifamily development
on Parcel C and on the lot on the north side of Pearl Avenue, across the street.
The proposal was submitted in response to a formal Request for Proposals sent out by the
Redevelopment Authority. The RFP contained guidelines for development of this site and the proposal
is consistent with the redevelopment guidelines for this site.
Base Standard Modifications/Community Benefit
As proposed, this development will require base standard modifications for density and setback.
The Ordinance requires 1,500 square feet of land area per unit for residential structures in a C-3
District. The subject site contains 2.96 acres or 128,937 square feet - 1,289 square feet per unit. As a
result, the overall development contains less open space than the ordinance requires. The proposed
development should be viewed in the context of its location within a more densely developed urban
area and within the redevelopment area. The density of the proposed development is appropriate
within both of these contexts and the modification of the base standard modification for land area
appears appropriate.
38
STAFF REPORT PLAN COMMISSION
ITEM III -3- NOVEMBER 16, 2004
The Ordinance requires a 25 foot setback for structures and parking in the C-3 District. Setback
modifications for a 6' setback will be needed from the east, north and west property lines from the
street for the buildings. The proposed setback would be more consistent with this urban location and
with redevelopment guidelines. Again, this development is taking place in a central city area where
development typically takes place closer to the street. If this building contained a commercial use, the
Ordinance would not require any setback at all.
The base standard modifications necessary for this development appear appropriate considering the
location of the development and the consistency with the redevelopment goals and design guidelines.
In terms of community benefit, this continues the private investment in the redevelopment area, creates
additional market rate central city housing opportunities, and creates more taxable value which will
benefit the TID in the short term, and the community as a whole in the longer term. The developer
estimates development costs at $7 million,
Because of it's central city location, the project creates additional housing proximate to jobs, shopping
and schools without requiring the costly extension of streets and public and private utility service, as
would a comparably sized suburban, greenfield development.
The Redevelopment Authority has reviewed and approved this site development plan and project
proposal.
RECOMMENDATION/CONDITIONS
Staff recommends the Plan Commission find the proposed CUP consistent with Section 30-11(D) of
the Zoning Ordinance and the request be approved with the following conditions:
1) Temporary driveway access from Dawes Street or Street B is granted subject to approval by the
Planning Services Division and that the driveways are to be relocated when proposed Street A
is constructed. Temporary driveway accesses are to be abandoned per the Department of Public
Works.
2) The "future" parking areas identified on the proposed site plan are to be developed for parking
at the time of construction of each building, bringing the total number of parking spaces
provided to 204 for the project.
3)
4)
Final landscape/site plan subject to staff approval.
The base standard modification for the 6' building setback is subject to any restrictions
associated with the established utility easement,
39
SUPPLEMENT TO GENERAL APPLICATION OF CONCORD 30, LLC
NOVEMBER 1, 2004
Concord 30, LLC proposes to construct a 102 unit, two phase (two building), three story wood
frame apartment complex of approximately 116,000 square feet over a partially exposed pre -cast
parking garage of approximately 38,600 square feet. Approximately one-third of each building
will be comprised of one bedroom units, with the remainder consisting of two bedroom units.
The units will be designed to accommodate individual washers and dryers. The project intends
to provide amenities, such as elevators and a tenant fitness center, not readily available in the
downtown/campus area. We also propose to construct a 1,182 square foot community room,
with kitchen facilities and patio, which will adjoin the two buildings and provide a central
location for management offices.
The buildings' exteriors will combine cast stone, brick, and stucco with metal accents on the roof
parapets. The buildings' locations will result in the placement of some balconies on the property
line, six feet (6') from the sidewalk. Foundation plantings will be provided around the buildings,
as well as a landscaped tenant courtyard between buildings south of the community room, and
landscaped green space between buildings and sidewalks at the entry patio north of the
community room. On the south end of the parcel, we propose to construct 70 surface parking
spaces that will be screened from Pearl Avenue, in addition to 116 underground spaces, resulting
in one stall per bedroom. In the event two stalls per unit are required based on actual parking
demand, 18 additional spaces will be constructed (shown as "future" on the plan).
40
Concord 30, LLC proposes to commence construction of the first phase of 51 units and 34
surface parking stalls not later than August 31, 2005 and estimates completion of the first phase
within 300 days of commencement. We propose to commence construction of the second phase
of 51 units, the community room, and balance of parking within 300 days of complete occupancy
of the first phase and complete construction within 300 days of commencement.
41
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42
MARION 'ROAD IPEARL AVENUE REDEVELOPMENT
44
APPENDIX E
ATTORNEY'S OPINION
CITY HALL
215 Church Avenue
P.O. Box 1130 APPENDIX E
Oshkosh, Wisconsin
54902-1130 City of Oshkosh
OJHKOJH
City Attorney's Office
Phone: (920) 236-5115
Fax: (920) 236-5090
http;l/www.ci.oshkosh.wi. us
January 13, 2006
Mr. Dan-yBunch
Director of Planning Services
City of Oshkosh
215 Church Avenue
Oshkosh, WI 54903-1130
Dear Darryn:
I have reviewed the project plan for City of Oshkosh Tax Increment District #21 — Fox River
Corridor Project, pursuant to Section 66.1105(4)(f) of Wisconsin Statutes. I find that the plan
includes a statement listing the kind, number and location of 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 of existing uses of the real property in the district and 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 Plan Commission of the project plan and their submission to the Common
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 Section
66.1105, Wisconsin Statutes.
Sincerely,
CIT F OS O
Warren P. Kraft
City Attorney
* 45