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Home My WebLink Abouttid-31-project-plan-final-for-state Organizational Joint Review Board Meeting Held: February 2, 2017 Public Hearing Held: February 7, 2017 Approval by Plan Commission: February 7, 2017 Adoption by Common Council: February 28, 2017 Approval by the Joint Review Board: March 6, 2017 February 28, 2017 Project Plan for the Creation of Tax Incremental District No. 31 (Buckstaff Redevelopment) Tax Incremental District No. 31 Creation Project Plan City of Oshkosh Officials Common Council Steve Cummings Mayor Debra L. Allison-Aasby Deputy Mayor Caroline Panske Council Member Lori Palmeri Council Member Thomas R. Pech, Jr. Council Member Steve Herman Council Member Ben Stepanek Council Member City Staff Mark Rohloff City Manager Allen Davis Community Development Director Lynn Lorenson City Attorney Darryn Burich Planning Director Kelly Nieforth Economic Development Services Manager Trena Larson Finance Director Pamela Ubrig City Clerk Plan Commission David Borsuk Karl Nollenberger Edward Bowen Kathleen Propp Thomas Fojtik, Chair Jeffrey Thoms John Hinz Robert Vajgrt Kiefer John Mayor Steve Cummings Joint Review Board Mark Rohloff, City Manager City Representative Mark Harris, County Executive Winnebago County Melissa Kohn, Director – Oshkosh Campus Fox Valley Technical College District Allison Garner, School Board President Oshkosh School District Bill Castle Public Member Table of Contents TYPE AND GENERAL DESCRIPTION OF DISTRICT ........................................................................................ 4 PRELIMINARY MAPS OF PROPOSED DISTRICT BOUNDARY ...................................................................... 5 MAPS SHOWING EXISTING USES AND CONDITIONS ................................................................................... 7 PRELIMINARY PARCEL LIST AND ANALYSIS ................................................................................................... 9 EQUALIZED VALUE TEST ..................................................................................................................................... 10 STATEMENT OF KIND, NUMBER AND LOCATION OF PROPOSED PUBLIC WORKS AND OTHER PROJECTS ................................................................................................................................................................ 11 MAPS SHOWING PROPOSED IMPROVEMENTS AND USES ...................................................................... 15 ECONOMIC FEASIBILITY STUDY, FINANCING METHODS, AND THE TIME WHEN COSTS OR MONETARY OBLIGATIONS RELATED ARE TO BE INCURRED .................................................................. 18 ANNEXED PROPERTY........................................................................................................................................... 23 ESTIMATE OF PROPERTY TO BE DEVOTED TO RETAIL BUSINESS ...................................................... 23 PROPOSED ZONING ORDINANCE CHANGES ................................................................................................ 23 ORDINANCES .......................................................................................................................................................... 23 RELOCATION ........................................................................................................................................................... 23 ORDERLY DEVELOPMENT OF THE CITY OF OSHKOSH ............................................................................. 24 OPINION OF ATTORNEY FOR THE CITY OF OSHKOSH ADVISING WHETHER THE PLAN IS COMPLETE AND COMPLIES WITH WISCONSIN STATUTES 66.1105 ...................................................... 25 CALCULATION OF THE SHARE OF PROJECTED TAX INCREMENTS ESTIMATED TO BE PAID BY DETAILED LIST OF PROJECT COSTS .............................................................................................................. 17 LIST OF ESTIMATED NON-PROJECT COSTS ................................................................................................. 24 EXECUTIVE SUMMARY ........................................................................................................................................... 1 PROPOSED CHANGES IN MASTER PLAN, MAP, BUILDING CODES AND CITY OF OSHKOSH THE OWNERS OF PROPERTY IN THE OVERLYING TAXING JURISDICTIONS ...................................... 26 PLAN COMMISSION PUBLIC HEARING/MINUTES OF FEBRUARY 7, 2017..........................................27 COMMON COUNCIL CREATION RESOLUTION OF FEBRUARY 21, 2017 ........................................29 JOINT REVIEW BOARD RESOLUTION OF MARCH 6, 2017................................................................31 Adoption by Common Council: Scheduled for February 28, 2017 January 27, 2017 Project Plan for the Creation of Tax Incremental District No. 31 (Buckstaff Redevelopment) Organizational Joint Review Board Meeting Held: February 2, 2017 Public Hearing Held: February 7, 2017 Approval by Plan Commission: February 7, 2017 Approval by the Joint Review Board: Scheduled for March 6, 2017 _____________________________________________________________________________________________ Project Plan TID No. 31 Creation City of Oshkosh Prepared by Ehlers Page 1 February 28, 2017 SECTION 1: Executive Summary Description of District Type of District, Size and Location Tax Incremental District (“TID”) No. 31 (the “TID” or “District”) is a proposed 8.77 acre blighted area located east of S. Main Street between E. 11th Avenue and E. South Park Avenue. Creation of the District is intended to facilitate construction of a proposed privately owned sports and event arena and the associated public infrastructure improvements that will be required to support it. A map of the proposed District boundaries is located in Section 3 of this plan. Estimated Total Project Expenditures. The City anticipates making total Project Cost expenditures of approximately $7,342,000 to facilitate construction of the arena and the associated public infrastructure improvements that will be required to support it. The estimated expenditures include $2,531,000 for necessary street and utility improvements on E. 11th Avenue, S. Park Avenue, and S. Main Street, and $1,819,000 for private site improvements consisting of environmental remediation costs, additional foundation work required for construction due to soil conditions (geo-piers) and stormwater management. Costs for both the public and private improvements are expected to be paid by the site developer and reimbursed through the tax increments collected. In addition to the $4,350,000 in estimated public and private improvement costs detailed above, the City expects to pay an estimated $2,542,000 in interest expense on the incentive provided, $186,000 to pay the cost of an outstanding SBA loan associated with the development site, and an estimated $265,000 in administrative costs that will be incurred over the life of the District. Economic Development The City projects that additional land and improvements value of approximately $18 million will result from creation of this District and construction of the arena. This additional value will be a result of the improvements made and projects undertaken within the District. A table detailing assumptions as to the timing of new development and redevelopment and associated values is located in Section 10 of this Plan. In addition, creation of the District is expected to result in other economic benefits as detailed in the Summary of Findings hereafter. Expected Termination of District Based on the Economic Feasibility Study located in Section 10 of this Plan, this District would be expected to remain open for 23 years of its 27-year maximum statutory life. Summary of Findings As required by Wisconsin Statutes Section 66.1105, and as documented in this Project Plan and the exhibits contained and referenced herein, the following findings are made: 1. That “but for” the creation of this District, the development projected to occur as detailed in this Project Plan: 1) would not occur; or 2) would not occur in the manner, at the values, or within the timeframe desired by the City. In making this determination, the City has considered the following information: _____________________________________________________________________________________________ Project Plan TID No. 31 Creation City of Oshkosh Prepared by Ehlers Page 2 February 28, 2017  In order to make the site included within the District suitable for use as a sports arena, the City will need to make a substantial investment to pay for the costs of street and utility infrastructure improvements. Due to the extensive initial investment in public infrastructure that is required in order to allow development to occur, the City has determined that development will not occur solely as a result of private investment. Accordingly, the City finds that absent the use of TIF, development of a sports and event arena is unlikely to occur. 2. The economic benefits of the Tax Incremental District, as measured by increased employment, business and personal income, and property value, are sufficient to compensate for the cost of the improvements. In making this determination, the City has considered the following information:  As demonstrated in the Economic Feasibility Section of this Project Plan, the tax increments projected to be collected are sufficient to pay for the cost of the development incentives and other related Project Costs needed to allow for construction of the arena.  Seven full-time positions and one part-time position will be required for management and operation of the facility, providing additional employment opportunity for area residents. Additional employment opportunity will also result from facility construction, and from event day employment for activities such as parking cars, ushers, security, ticketing, and food and beverage vendors.  The Milwaukee Bucks developmental league team which will rent the facility will have 12 players on the roster at all times that will have housing provided for them in Oshkosh. The team will have a head coach, two assistant coaches, an athletic trainer, and one director of basketball operations. There will be a President hired and the team expects to hire up to 20 people locally. The Team President and Basketball Operations position will live in Oshkosh full time. The other 20 positions will be in marketing, promotions, and ticket sales. At least half of these will be year- round full time and the remaining will most likely be some type of year-round part time or during the season only. Payroll and benefits for the local staff on both the basketball and business side are estimated to be $1 million per year.  The University of Wisconsin Extension office performed an economic impact analysis for Greater Oshkosh, looking at a very conservative and worst case scenario. At half stadium capacity (1,750), assuming half are coming from outside of the county (875), per season it equates to $525,000 in new money coming in (based on a $15/ticket and spending $10/person on food in the arena) per D League season. This does not account for:  Money spent by current residents  Money spent on higher end seats (VIP/season tickets, floor seats, etc.)  Money spent outside the arena by current residents (restaurants/bars, etc.)  Money spent outside the arena by visitors (restaurants/bars, shopping, overnights, etc.)  If the stadium is above half capacity  Any other of the 2-4 events per month held at arena throughout the year (sports tournaments, concerts, etc.)  Money spent by team and management in residence during the season (residence, food, entertainment, etc.) 3. The benefits of the proposal outweigh the anticipated tax increments to be paid by the owners of property in the overlying taxing jurisdictions.  If approved, the District’s creation would become effective for valuation purposes as of January 1, 2017. As of this date, the values of all existing real and personal property within the District would be frozen and the property taxes collected on this base value would continue to be distributed amongst the various taxing entities as they currently are now. Taxes levied on any _____________________________________________________________________________________________ Project Plan TID No. 31 Creation City of Oshkosh Prepared by Ehlers Page 3 February 28, 2017 additional value established within the District due to new construction, renovation or appreciation of property values occurring after January 1, 2017 would be collected by the TID and used to repay the costs of TIF-eligible projects undertaken within the District.  Since the development expected to occur is unlikely to take place or in the same manner without the use of TIF (see Finding #1) and since the District will generate economic benefits that are more than sufficient to compensate for the cost of the improvements (see Finding #2), the City reasonably concludes that the overall benefits of the District outweigh the anticipated tax increments to be paid by the owners of property in the overlying taxing jurisdictions. It is further concluded that since the “but for” test is satisfied, there would, in fact, be no foregone tax increments to be paid in the event the District is not created. As required by Section 66.1105(4)(i)4, a calculation of the share of projected tax increments estimated to be paid by the owners of property in the overlying taxing jurisdictions has been made and can be found in Appendix A of this plan. 4. Not less than 50% by area of the real property within the District is a blighted area within the meaning of Wisconsin Statutes Section 66.1105(2)(ae)1. 5. Based upon the findings, as stated above, the District is declared to be a blighted area District based on the identification and classification of the property included within the District. 6. The project costs relate directly to promoting the elimination of blight consistent with the purpose for which the District is created. 7. The improvement of such area is likely to enhance significantly the value of substantially all of the other real property in the District. 8. The equalized value of taxable property of the District, plus the value increment of all existing tax incremental districts within the City, does not exceed 12% of the total equalized value of taxable property within the City. 9. The City estimates that less than 35% of the territory within the District will be devoted to retail business at the end of the District’s maximum expenditure period, pursuant to Wisconsin Statutes Sections 66.1105(5)(b) and 66.1105(6)(am)1. 10. The Project Plan for the District in the City is feasible, and is in conformity with the master plan of the City. _____________________________________________________________________________________________ Project Plan TID No. 31 Creation City of Oshkosh Prepared by Ehlers Page 4 February 28, 2017 SECTION 2: Type and General Description of District The District, comprising 8.77 acres located east of S. Main Street between E. 11th Avenue and E. South Park Avenue, is being created by the City under the authority provided by Wisconsin Statute Section 66.1105 and will be classified as a blighted area district based on a finding that at least 50%, by area, of the real property within the District meets that condition as defined in Wisconsin Statute Section 66.11105(2)(ae)1. The preliminary parcel list included in Section 5 to this Plan identifies those parcels meeting those criteria. Collectively, these parcels represent 91.79% of the total District area. Creation of the District is intended to facilitate construction of a proposed privately owned sports and event arena and the associated public infrastructure improvements that will be required to support it. A preliminary map of the proposed District boundary can be found in Section 3 of this Plan. _____________________________________________________________________________________________ Project Plan TID No. 31 Creation City of Oshkosh Prepared by Ehlers Page 5 February 28, 2017 SECTION 3: Preliminary Maps of Proposed District Boundary _____________________________________________________________________________________________ Project Plan TID No. 31 Creation City of Oshkosh Prepared by Ehlers Page 6 February 28, 2017 _____________________________________________________________________________________________ Project Plan TID No. 31 Creation City of Oshkosh Prepared by Ehlers Page 7 February 28, 2017 SECTION 4: Maps Showing Existing Uses and Conditions _____________________________________________________________________________________________ Project Plan TID No. 31 Creation City of Oshkosh Prepared by Ehlers Page 8 February 28, 2017 _________________________________________________________________________________________________________________________________ Project Plan TID No. 31 Creation City of Oshkosh Prepared by Ehlers Page 9 February 28, 2017 SECTION 5: Preliminary Parcel List and Analysis City of Oshkosh, Wisconsin Tax Increment District # 31 Base Property Information Map Ref # Parcel Number Street Address Owner Acreage1 Land Imp PP Total Equalized Value Ratio3 Land Imp PP Total Blighted4 Rehab/ Conservation 1 03‐0324‐0100 1118 S Main Street Oshkosh Furniture LLC 1.94 34,000 0 0 34,000 99.76% 34,082 0 0 34,082 1.94 2 03‐0324‐0200 1212 S Main Street Oshkosh Furniture LLC 6.11 106,900 0 0 106,900 99.76% 107,157 0 0 107,157 6.11 3 03‐0377‐0000 0 Pioneer Drive Fox Valley & Western Ltd 0.72 0 0 0 0 99.76% 0 0 0 0 Total Acreage 8.77 140,900 0 0 140,900 141,239 0 0 8.05 0 91.79% 0.00% Estimated Base Value 141,239 NOTES: 1Acreage for Map Reference #1 and #2 parcels provided by City staff. Acreage for Map Reference #3 parcel taken from City of Oshkosh Parcel Viewer. 2Estimated January 1, 2017 assessed values as provided by the City of Oshkosh. 3Equalization ratio as of January 1, 2016 as published by the Wisconsin Department of Revenue. 4Properties to be located within the District consist of land upon which buildings or structures have been demolished and which because of obsolete platting, diversity of ownership, deterioration of 3of structures or site improvements, or otherwise, substantially impairs or arrests the sound growth of the community consistent with Wis. Stat. § 66.1105(2)(ae)1.b. Property Information Assessment Information2 Equalized Value District Classification _____________________________________________________________________________________________ Project Plan TID No. 31 Creation City of Oshkosh Prepared by Ehlers Page 10 February 28, 2017 SECTION 6: Equalized Value Test The following calculations demonstrate that the City is in compliance with Wisconsin Statutes Section.66.1105(4)(gm)4.c., which requires that the equalized value of the taxable property in the proposed District, plus the value increment of all existing tax incremental districts, does not exceed 12% of the total equalized value of taxable property within the City. The equalized value of the increment of existing tax incremental districts within the City, plus the base value of the proposed District, totals $264,280,139. This value is less than the maximum of $453,147,036 in equalized value that is permitted for the City of Oshkosh. The City therefore expects to be in compliance with the statutory equalized valuation test and may proceed with creation of this District. District Creation Date 2/28/2017 Valuation Data Percent Valuation Data Currently Available Change Est. Creation Date 2016 Total EV (TID In) 3,776,225,300 3,776,225,300 12% Test 453,147,036 453,147,036 Total Existing Increment 264,138,900 264,138,900 Projected Base of New or Amended District 141,239 141,239 Total Value Subject to 12% Test 264,280,139 264,280,139 Compliance PASS PASS City of Oshkosh, Wisconsin Tax Increment District # 31 Valuation Test Compliance Calculation _____________________________________________________________________________________________ Project Plan TID No. 31 Creation City of Oshkosh Prepared by Ehlers Page 11 February 28, 2017 SECTION 7: Statement of Kind, Number and Location of Proposed Public Works and Other Projects Project Costs are any expenditure made, estimated to be made, or monetary obligations incurred or estimated to be incurred, by the City as outlined in this Plan. Project Costs will be diminished by any income, special assessments or other revenues, including user fees or charges received. To the extent the costs of a Project benefit the City outside the District that proportionate share of the cost is not a Project Cost. Costs identified in this Plan are preliminary estimates made prior to design considerations and are subject to change after planning is completed. Pro-ration of costs in the Plan are also estimates and subject to change based upon implementation, future assessment policies and user fee adjustments. The following is a list of public works and other TIF-eligible projects that the City may need to implement in conjunction with this District. Any costs necessary or convenient to the creation of the District or directly or indirectly related to the public works and other projects are considered Project Costs and eligible to be paid with tax increment revenues of the District. Property, Right-of-Way and Easement Acquisition Property Acquisition In order to promote and facilitate redevelopment the City may acquire property within the District. The cost of property acquired, and any costs associated with the transaction, are eligible Project Costs. Following acquisition, other Project Costs within the categories detailed in this Section may be incurred in order to make the property suitable for development and/or redevelopment. Any revenue received by the City from the sale of property acquired pursuant to the execution of this Plan will be used to reduce the total project costs of the District. If total Project Costs incurred by the City to acquire property and make it suitable for development and/or redevelopment exceed the revenues or other consideration received from the sale or lease of that property, the net amount shall be considered “real property assembly costs” as defined in Wisconsin Statutes Section 66.1105(2)(f)1.c., and subject to recovery as an eligible Project Cost. Acquisition of Rights-of-Way The City may need to acquire property to allow for installation of streets, driveways, sidewalks, utilities, stormwater management practices and other public infrastructure. Costs incurred by the City to identify, negotiate and acquire rights-of-way are eligible Project Costs. Acquisition of Easements The City may need to acquire temporary or permanent easements to allow for installation and maintenance of streets, driveways, sidewalks, utilities, stormwater management practices and other public infrastructure. Costs incurred by the City to identify, negotiate and acquire easement rights are eligible Project Costs. Relocation Costs If relocation expenses are incurred in conjunction with the acquisition of property, those expenses are eligible Project Costs. These costs may include, but are not limited to: preparation of a relocation plan; allocations of staff time; legal fees; publication of notices; obtaining appraisals; and payment of relocation benefits as required by Wisconsin Statutes Sections 32.19 and 32.195. _____________________________________________________________________________________________ Project Plan TID No. 31 Creation City of Oshkosh Prepared by Ehlers Page 12 February 28, 2017 Site Preparation Activities Environmental Audits and Remediation Any cost incurred by the City related to environmental audits, testing, and remediation are eligible Project Costs. Demolition In order to make sites suitable for development, the City may incur costs related to demolition and removal of structures or other land improvements, to include abandonment of wells or other existing utility services. Site Grading Land within the District may require grading to make it suitable for development and/or redevelopment, to provide access, and to control stormwater runoff. The City may need to remove and dispose of excess material, or bring in fill material to provide for proper site elevations. Expenses incurred by the City for site grading are eligible Project Costs. Utilities Sanitary Sewer System Improvements There are inadequate sanitary sewer facilities serving areas of the District. To allow redevelopment to occur, the City may need to construct, alter, rebuild or expand sanitary sewer infrastructure within the District. Eligible Project Costs include, but are not limited to, construction, alteration, rebuilding or expansion of: collection mains; manholes and cleanouts; service laterals; force mains; interceptor sewers; and all related appurtenances. To the extent sanitary sewer projects undertaken within the District provide direct benefit to land outside of the District, the City will make an allocation of costs based on such benefit. Those costs corresponding to the benefit allocated to land within the District, and necessitated by the implementation of the Project Plan, are eligible Project Costs. Implementation of the Project Plan may also require that the City construct, alter, rebuild or expand sanitary sewer infrastructure located outside of the District. That portion of the costs of sanitary sewer system projects undertaken outside the District which are necessitated by the implementation of the Project Plan are eligible Project Costs. Water System Improvements There are inadequate water distribution facilities serving areas of the District. To allow redevelopment to occur, the City may need to construct, alter, rebuild or expand water system infrastructure within the District. Eligible Project Costs include, but are not limited to, construction, alteration, rebuilding or expansion of: distribution mains; manholes and valves; hydrants; service laterals; and all related appurtenances. To the extent water system projects undertaken within the District provide direct benefit to land outside of the District, the City will make an allocation of costs based on such benefit. Those costs corresponding to the benefit allocated to land within the District, and necessitated by the implementation of the Project Plan, are eligible Project Costs. Implementation of the Project Plan may also require that the City construct, alter, rebuild or expand water system infrastructure located outside of the District. That portion of the costs of water system projects undertaken outside the District which are necessitated by the implementation of the Project Plan are eligible Project Costs. Stormwater Management System Improvements Redevelopment within the District will cause stormwater runoff and pollution. To manage this stormwater runoff, the City may need to construct, alter, rebuild or expand stormwater management infrastructure within the District. Eligible Project Costs include, but are not limited to, construction, alteration, rebuilding or expansion of: stormwater collection mains; inlets, manholes and valves; service laterals; and _____________________________________________________________________________________________ Project Plan TID No. 31 Creation City of Oshkosh Prepared by Ehlers Page 13 February 28, 2017 infiltration, filtration and detention Best Management Practices (BMP’s). To the extent stormwater management system projects undertaken within the District provide direct benefit to land outside of the District, the City will make an allocation of costs based on such benefit. Those costs corresponding to the benefit allocated to land within the District, and necessitated by the implementation of the Project Plan, are eligible Project Costs. Implementation of the Project Plan may also require that the City construct, alter, rebuild or expand stormwater management infrastructure located outside of the District. That portion of the costs of stormwater management system projects undertaken outside the District which are necessitated by the implementation of the Project Plan are eligible Project Costs. Streets and Streetscape Street Improvements There are inadequate street improvements serving areas of the District. To allow redevelopment to occur, the City may need to construct and/or reconstruct streets, highways, alleys, access drives and parking areas. Eligible Project Costs include, but are not limited to: excavation; removal or placement of fill; construction of road base; asphalt or concrete paving or repaving; installation of curb and gutter; installation of sidewalks and bicycle lanes; installation of culverts, signals; utility relocation, to include burying overhead utility lines; street lighting; installation of traffic control signage and traffic signals; pavement marking; right-of-way restoration; installation of retaining walls; and installation of fences, berms, and landscaping. Streetscaping and Landscaping In order to attract redevelopment consistent with the objectives of this Plan, the City may install amenities to enhance development sites, rights-of-way and other public spaces. These amenities include, but are not limited to: landscaping, lighting of streets, sidewalks, parking areas and public areas; installation of planters, benches, clocks, tree rings, trash receptacles and similar items; and installation of brick or other decorative walks, terraces and street crossings. These and any other similar amenities installed by the City are eligible Project Costs. RDA Type Activities Contribution to Redevelopment Authority As provided for in Wisconsin Statue Sections 66.1105(2)(f)1h and 66.1333(13), the City may provide funds to its RDA to be used for administration, planning operations, and capital costs, including but not limited to real property acquisition, related to the purposes for which it was established in furtherance of any redevelopment or urban renewal project. Funds provided to the RDA for this purpose are eligible Project Costs. Revolving Loan/Grant Program To encourage private redevelopment consistent with the objectives of this Plan, the City, through its RDA, may provide loans and/or matching grants to eligible property owners in the District. Loan and/or matching grant recipients will be required to sign an agreement specifying the nature of the property improvements to be made. Eligible improvements will be those that are likely to improve the value of the property, enhance the visual appearance of the property and surrounding area, correct safety deficiencies, or as otherwise specified by the RDA in the program manual. Any funds returned to the RDA from the repayment of loans made are not considered revenues to the District, and will not be used to offset District Project Costs. Instead, these funds may be placed into a revolving loan fund and will continue to be used for the program purposes stated above. Any funds provided to the RDA for purposes of implementing this program are considered eligible Project Costs. _____________________________________________________________________________________________ Project Plan TID No. 31 Creation City of Oshkosh Prepared by Ehlers Page 14 February 28, 2017 Miscellaneous Cash Grants (Development Incentives) The City may enter into agreements with property owners, lessees, or developers of land located within the District for the purpose of sharing costs to encourage the desired kind of improvements and assure tax base is generated sufficient to recover project costs. No cash grants will be provided until the City executes a developer agreement with the recipient of the cash grant. Any payments of cash grants made by the City are eligible Project Costs. Projects Outside the Tax Increment District Pursuant to Wisconsin Statutes Section 66.1105(2)(f)1.n, the City may undertake projects within territory located within one-half mile of the boundary of the District provided that: 1) the project area is located within the City’s corporate boundaries and 2) the projects are approved by the Joint Review Board. The cost of projects completed outside the District pursuant to this section are eligible project costs, and may include any project cost that would otherwise be eligible if undertaken within the District. The City intends to make the following project cost expenditures outside the District: improvement of portions of E. 11th Avenue, S. Park Avenue, and S Main Street which adjoin but do not lie entirely within the boundaries of the District. Professional Service and Organizational Costs The costs of professional services rendered, and other costs incurred, in relation to the creation, administration and termination of the District, and the undertaking of the projects contained within this Plan, are eligible Project Costs. Professional services include, but are not limited to: architectural; environmental; planning; engineering; legal; audit; financial; and the costs of informing the public with respect to the creation of the District and the implementation of the Plan. Administrative Costs The City may charge to the District as eligible Project Costs reasonable allocations of administrative costs, including, but not limited to, employee salaries. Costs allocated will bear a direct connection to the time spent by City employees in connection with the implementation of the Plan. Financing Costs Interest expense, debt issuance expenses, redemption premiums, and any other fees and costs incurred in conjunction with obtaining financing for projects undertaken under this Plan are eligible Project Costs. With all Projects the costs of engineering, design, survey, inspection, materials, construction, restoring property to its original condition, apparatus necessary for public works, legal and other consultant fees, testing, environmental studies, permits, updating City ordinances and plans, judgments or claims for damages and other expenses are included as Project Costs. In the event any of the Project Cost expenditures included in this Plan are determined not to be reimbursable out of the TIF fund by counsel retained by the City for purposes of making such determination, or a court of record so rules in a final order, then such Project Cost is deleted from this Plan and the remainder of the Projects shall be deemed the entirety of the Projects for purposes of this Plan. The City reserves the right to implement only those projects that remain viable as the Plan period proceeds. _____________________________________________________________________________________________ Project Plan TID No. 31 Creation City of Oshkosh Prepared by Ehlers Page 15 February 28, 2017 SECTION 8: Maps Showing Proposed Improvements and Uses _____________________________________________________________________________________________ Project Plan TID No. 31 Creation City of Oshkosh Prepared by Ehlers Page 16 February 28, 2017 _____________________________________________________________________________________________ Project Plan TID No. 31 Creation City of Oshkosh Prepared by Ehlers Page 17 February 28, 2017 SECTION 9: Detailed List of Project Costs All costs are based on 2017 prices and are preliminary estimates. The City reserves the right to increase these costs to reflect inflationary increases and other uncontrollable circumstances between 2017 and the time the expenditure is made. The City also reserves the right to increase certain Project Costs to the extent others are reduced or not implemented without amending the Plan. The tax increment allocation is preliminary and is subject to adjustment based upon the implementation of the Plan. This Plan is not meant to be a budget nor an appropriation of funds for specific projects, but a framework within which to manage projects. All costs included in the Plan are estimates based on best information available. The City retains the right to delete projects or change the scope and/or timing of projects implemented as they are individually authorized by the Common Council, without amending the Plan. Proposed TIF Project Cost Estimates Supporting Project List Providing Basis for Development Incentive 1 Concrete Paving 2017 324,000 180,000 504,000 2 Water Main 2017 162,000 86,000 248,000 3 Sanitary Sewer Main 2017 80,000 66,000 146,000 4 Storm Sewer 2017 70,000 970,000 1,040,000 5 Sidewalk 2017 57,600 32,000 30,000 119,600 6 Traffic Signals 2017 125,000 125,000 250,000 7 Street Lights 2017 79,200 44,000 100,000 223,200 8 Remediation Expense 2017 825,000 825,000 9 Geo Pier & Grid Installation 2017 759,600 759,600 10 Stormwater Management 2017 234,050 234,050 Total Supporting Project List 897,800 1,503,000 130,000 1,818,650 4,349,450 Estimated Project List 11 Development Incentive Principal 2019 ‐ 2040 (Total from Above)4,349,450 12 Development Incentive Interest 2019 ‐ 2040 2,541,995 13 SBA Loan 2019 ‐ 2032 185,551 14 Administrative Costs 2017 ‐ 2040 265,000 Total Projects 7,341,996 Notes: 1Cost estimates for Project ID Nos. 1 ‐ 10 provided by City staff. 2Portions of E. 11th Avenue, S. Park Avenue, and S Main Street that will be improved adjoin but do not lie entirely within the boundaries of the District. To the extent 2improvements are made outside the District, these improvements are eligible Project Costs pursuant to Wisconsin Statutes Section 66.1105(2)(f)1.n. City of Oshkosh, Wisconsin Tax Increment District # 31 & Estimated Project List1 & 2 TotalProject ID Project Name/Type E. 11th Ave S. Park Ave S. Main St.Projected Year Site Work TotalProject ID Project Name/Type Projected Year _____________________________________________________________________________________________ Project Plan TID No. 31 Creation City of Oshkosh Prepared by Ehlers Page 18 February 28, 2017 SECTION 10: Economic Feasibility Study, Financing Methods, and the Time When Costs or Monetary Obligations Related are to be Incurred The information and exhibits contained within this Section demonstrate that the proposed District is economically feasible insofar as:  The City has available to it the means to secure the necessary financing required to accomplish the projects contained within this Plan. A listing of “Available Financing Methods” follows.  The City expects to complete the projects in one or multiple phases, and can adjust the timing of implementation as needed to coincide with the pace of private development. A discussion of the phasing and projected timeline for project completion is discussed under “Plan Implementation” within this Section. A table identifying the financing method for each phase and the time at which that financing is expected to be incurred is included.  The development anticipated to occur as a result of the implementation of this Plan will generate sufficient tax increments to pay for the cost of the projects. Within this Section are tables identifying: 1) the development expected to occur, 2) a projection of tax increments to be collected resulting from that development and other economic growth within the District, and 3) a cash flow model demonstrating that the projected tax increment collections and all other revenues available to the District will be sufficient to pay all Project Costs. Available Financing Methods To the extent Project Costs cannot be paid from cash on hand, the following is a list of the types of debt obligations that the City could utilize to raise the capital needed to finance Project Costs or to pay commitments to developers. General Obligation (G.O.) Bonds or Notes The City may issue G.O. Bonds or Notes to finance the cost of projects included within this Plan. The Wisconsin State Constitution limits the principal amount of G.O. debt that the City may have outstanding at any point in time to an amount not greater than five percent of its total equalized value. As of December 31, 2016 the City had approximately $48.6 million in unused G.O. debt capacity available. Bonds Issued to Developers (“Pay as You Go” Financing) The City may issue a bond or other obligation to one or more developers who provide financing for projects included in this Plan. Repayment of the amounts due to the developer under the bonds or other obligations are limited to an agreed percentage of the available annual tax increments collected that result from the improvements made by the developer. To the extent the tax increments collected are insufficient to make annual payments, or to repay the entire obligation over the life of the District, the City’s obligation is limited to not more than the agreed percentage of the actual increments collected. Bonds or other obligations issued to developers in this fashion are not general obligations of the City and, therefore, do not count against the City’s statutory borrowing capacity. _____________________________________________________________________________________________ Project Plan TID No. 31 Creation City of Oshkosh Prepared by Ehlers Page 19 February 28, 2017 Tax Increment Revenue Bonds The City has the authority to issue revenue bonds secured by the tax increments to be collected. These bonds may be issued directly by the City, or as a form of lease revenue bond by a Redevelopment Authority (RDA). Tax Increment Revenue Bonds and Lease Revenue Bonds are not general obligations of the City and therefore do not count against the City’s statutory borrowing capacity. To the extent tax increments collected are insufficient to meet the annual debt service requirements of the revenue bonds, the City may be subject to either a permissive or mandatory requirement to appropriate on an annual basis a sum equal to the actual or projected shortfall. Utility Revenue Bonds The City can issue revenue bonds to be repaid from revenues of its various systems, including revenues paid by the City that represent service of the system to the City. There is neither a statutory nor constitutional limitation on the amount of revenue bonds that can be issued, however, water rates are controlled by the Wisconsin Public Service Commission and the City must demonstrate to bond purchasers its ability to repay revenue debt with the assigned rates. To the extent the City utilizes utility revenues other than tax increments to repay a portion of the bonds, the City must reduce the total eligible Project Costs in an equal amount. Special Assessment “B” Bonds The City has the ability to levy special assessments against benefited properties to pay part of the costs for street, curb, gutter, sewer, water, storm sewers and other infrastructure. In the event the City determines that special assessments are appropriate, the City can issue Special Assessment B bonds pledging revenues from special assessment installments to the extent assessment payments are outstanding. These bonds are not counted against the City's statutory borrowing capacity. If special assessments are levied, the City must reduce the total eligible Project Costs under this Plan in an amount equal to the total collected. Plan Implementation The City anticipates making total Project Cost expenditures of approximately $7,342,000 to facilitate construction of the arena and the associated public infrastructure improvements that will be required to support it. The estimated expenditures include $2,531,000 for necessary street and utility improvements on E. 11th Avenue, S. Park Avenue, and S. Main Street, and $1,819,000 for private site improvements consisting of environmental remediation costs, additional foundation work required for construction due to soil conditions (geo-piers) and stormwater management. Costs for both the public and private improvements are expected to be paid by the site developer and reimbursed through the tax increments collected. In addition to the $4,350,000 in estimated public and private improvement costs detailed above, the City expects to pay an estimated $2,542,000 in interest expense on the incentive provided, $186,000 to pay the cost of an outstanding SBA loan associated with the development site, and an estimated $265,000 in administrative costs that will be incurred over the life of the District. If financing as outlined in this Plan proves unworkable, the City reserves the right to use alternate financing solutions for the projects as they are implemented. _____________________________________________________________________________________________ Project Plan TID No. 31 Creation City of Oshkosh Prepared by Ehlers Page 20 February 28, 2017 Development Assumptions Actual Arena Annual Total 1 2017 18,000,000 18,000,000 2017 1 2 2018 0 2018 2 3 2019 0 2019 3 4 2020 0 2020 4 5 2021 0 2021 5 6 2022 0 2022 6 7 2023 0 2023 7 8 2024 (8,000,000) (8,000,000)2024 8 9 2025 0 2025 9 10 2026 0 2026 10 11 2027 0 2027 11 12 2028 0 2028 12 13 2029 0 2029 13 14 2030 0 2030 14 15 2031 0 2031 15 16 2032 0 2032 16 17 2033 0 2033 17 18 2034 0 2034 18 19 2035 0 2035 19 20 2036 0 2036 20 21 2037 0 2037 21 22 2038 0 2038 22 23 2039 0 2039 23 24 2040 0 2040 24 25 2041 0 2041 25 26 2042 0 2042 26 27 2043 0 2043 27 Totals 0 10,000,000 10,000,000 Notes: 1Estimated valuation provided by City of Oshkosh staff on 1‐4‐2017. City of Oshkosh, Wisconsin Tax Increment District # 31 Development Assumptions1 Construction Year Construction Year _____________________________________________________________________________________________ Project Plan TID No. 31 Creation City of Oshkosh Prepared by Ehlers Page 21 February 28, 2017 Increment Revenue Projections Type of District Base Value 141,239 District Creation Date Appreciation Factor 0.00%Apply to Base Value Valuation Date Jan 1, 2017 Base Tax Rate $26.98 Max Life (Years) Rate Adjustment Factor Expenditure Period/Termination 22 2/28/2039 Revenue Periods/Final Year 27 2045 Extension Eligibility/Years Yes 3 Tax Exempt Discount Rate 4.00% Recipient District Taxable Discount Rate 5.50% Construction Year Value Added Valuation Year Inflation Increment Total Increment Revenue Year Tax Rate1 Tax Increment Tax Exempt NPV Calculation Taxable NPV Calculation 1 2017 18,000,000 2018 0 18,000,000 2019 $26.98 485,696 467,016 460,376 2 2018 0 2019 0 18,000,000 2020 $26.98 485,696 916,069 896,750 3 2019 0 2020 0 18,000,000 2021 $26.98 485,696 1,347,851 1,310,376 4 2020 0 2021 0 18,000,000 2022 $26.98 485,696 1,763,026 1,702,438 5 2021 0 2022 0 18,000,000 2023 $26.98 485,696 2,162,233 2,074,061 6 2022 0 2023 0 18,000,000 2024 $26.98 485,696 2,546,086 2,426,310 7 2023 0 2024 0 18,000,000 2025 $26.98 485,696 2,915,175 2,760,195 8 2024 ‐8,000,000 2025 0 10,000,000 2026 $26.98 269,831 3,112,338 2,936,017 9 2025 0 2026 0 10,000,000 2027 $26.98 269,831 3,301,918 3,102,673 10 2026 0 2027 0 10,000,000 2028 $26.98 269,831 3,484,206 3,260,640 11 2027 0 2028 0 10,000,000 2029 $26.98 269,831 3,659,483 3,410,372 12 2028 0 2029 0 10,000,000 2030 $26.98 269,831 3,828,019 3,552,299 13 2029 0 2030 0 10,000,000 2031 $26.98 269,831 3,990,073 3,686,826 14 2030 0 2031 0 10,000,000 2032 $26.98 269,831 4,145,894 3,814,340 15 2031 0 2032 0 10,000,000 2033 $26.98 269,831 4,295,721 3,935,206 16 2032 0 2033 0 10,000,000 2034 $26.98 269,831 4,439,786 4,049,771 17 2033 0 2034 0 10,000,000 2035 $26.98 269,831 4,578,310 4,158,364 18 2034 0 2035 0 10,000,000 2036 $26.98 269,831 4,711,507 4,261,295 19 2035 0 2036 0 10,000,000 2037 $26.98 269,831 4,839,580 4,358,861 20 2036 0 2037 0 10,000,000 2038 $26.98 269,831 4,962,728 4,451,340 21 2037 0 2038 0 10,000,000 2039 $26.98 269,831 5,081,139 4,538,997 22 2038 0 2039 0 10,000,000 2040 $26.98 269,831 5,194,995 4,622,085 23 2039 0 2040 0 10,000,000 2041 $26.98 269,831 5,304,473 4,700,842 24 2040 0 2041 0 10,000,000 2042 $26.98 269,831 5,409,740 4,775,492 25 2041 0 2042 0 10,000,000 2043 $26.98 269,831 5,510,958 4,846,251 26 2042 0 2043 0 10,000,000 2044 $26.98 269,831 5,608,283 4,913,321 27 2043 0 2044 0 10,000,000 2045 $26.98 269,831 5,701,865 4,976,895 Totals 10,000,000 0 Future Value of Increment 8,796,497 Notes: 1Tax rate shown is actual TID Interim Rate for the 2016/17 levy per DOR Form PC‐202 (Tax Increment Collection Worksheet). 27 Yes City of Oshkosh, Wisconsin Tax Increment District # 31 Tax Increment Projection Worksheet Blighted Area February 28, 2017 _________________________________________________________________________________________________________________________________ Project Plan TID No. 31 Creation City of Oshkosh pared by Ehlers Page 22 February 28, 2017 Cash Flow City of Oshkosh, Wisconsin Tax Increment District # 31 Cash Flow Projection Year Interest Year 2017 0 4,349,450 108,736 4,458,186 35,000 35,000 (35,000) (35,000)4,458,186 2017 2018 (700)(700)4,458,186 222,909 4,681,096 10,000 10,000 (10,700) (45,700)4,681,096 2018 2019 485,696 (914)484,782 4,681,096 415,829 213,263 4,478,530 13,254 10,000 439,083 45,700 (0)4,478,530 2019 2020 485,696 (0)485,696 4,478,530 462,443 200,804 4,216,892 13,254 10,000 485,696 0 (0)4,216,892 2020 2021 485,696 (0)485,696 4,216,892 462,443 187,722 3,942,172 13,254 10,000 485,696 0 (0)3,942,172 2021 2022 485,696 (0)485,696 3,942,172 462,443 173,986 3,653,716 13,254 10,000 485,696 0 (0)3,653,716 2022 2023 485,696 (0)485,696 3,653,716 462,443 159,564 3,350,837 13,254 10,000 485,696 0 (0)3,350,837 2023 2024 485,696 (0)485,696 3,350,837 462,443 144,420 3,032,814 13,254 10,000 485,696 0 (0)3,032,814 2024 2025 485,696 (0)485,696 3,032,814 462,443 128,519 2,698,890 13,254 10,000 485,696 0 (0)2,698,890 2025 2026 269,831 (0)269,831 2,698,890 246,578 122,616 2,574,928 13,254 10,000 269,831 0 (0)2,574,928 2026 2027 269,831 (0)269,831 2,574,928 246,578 116,418 2,444,768 13,254 10,000 269,831 0 (0)2,444,768 2027 2028 269,831 (0)269,831 2,444,768 246,578 109,910 2,308,100 13,254 10,000 269,831 0 (0)2,308,100 2028 2029 269,831 (0)269,831 2,308,100 246,578 103,076 2,164,599 13,254 10,000 269,831 0 (0)2,164,599 2029 2030 269,831 (0)269,831 2,164,599 246,578 95,901 2,013,923 13,254 10,000 269,831 0 (0)2,013,923 2030 2031 269,831 (0)269,831 2,013,923 246,578 88,367 1,855,712 13,254 10,000 269,831 0 (0)1,855,712 2031 2032 269,831 (0)269,831 1,855,712 246,578 80,457 1,689,592 13,254 10,000 269,831 0 (0)1,689,592 2032 2033 269,831 (0)269,831 1,689,592 259,831 71,488 1,501,249 10,000 269,831 0 0 1,501,249 2033 2034 269,831 0 269,831 1,501,249 259,831 62,071 1,303,488 10,000 269,831 0 0 1,303,488 2034 2035 269,831 0 269,831 1,303,488 259,832 52,183 1,095,840 10,000 269,832 (0)0 1,095,840 2035 2036 269,831 0 269,831 1,095,840 259,832 41,800 877,809 10,000 269,832 (0) (0)877,809 2036 2037 269,831 (0)269,831 877,809 259,831 30,899 648,877 10,000 269,831 0 (0)648,877 2037 2038 269,831 (0)269,831 648,877 259,832 19,452 408,497 10,000 269,832 (0) (0)408,497 2038 2039 269,831 (0)269,831 408,497 259,831 7,433 156,100 10,000 269,831 0 (0)156,100 2039 2040 269,831 (0)269,831 156,100 156,100 0 0 10,000 166,100 103,731 103,731 0 2040 2041 269,831 2,075 271,906 0 0 0 0 271,906 375,637 0 2041 2042 269,831 7,513 277,344 0 0 0 0 277,344 652,981 0 2042 2043 269,831 13,060 282,891 0 0 0 0 282,891 935,872 0 2043 2044 269,831 18,717 288,549 0 0 0 0 288,549 1,224,420 0 2044 2045 269,831 24,488 294,320 0 0 0 0 294,320 1,518,740 0 2045 Total 8,796,497 64,239 8,860,736 6,891,445 185,551 265,000 7,341,996 Total Notes: 1Percentage, term and interest rate shown for purposes of establishing economic feasibility only. The City has not agreed to terms or conditions with the proposed developer as to any public participation in the project. 2Initial principal amount of development incentive is equal to the City's estimated cost of the public improvements and TID eligible site improvements that will be required to support the redevelopment project. 3Reflects remaining liability for existing SBA loan associated with the property to be acquired by the City. Cumulative PAYGO Principal Outstanding Beginning Principal2 Ending Principal Deferred Interest SBA Loan3 Admin. Total Expenditures Annual Developer Incentive Payments Tax Increments Interest Earnings/ (Cost) Total Revenues Projected Revenues Expenditures Balances Pay As You Go (PAYGO) Developer Obligation1 Pro ected TID Closure _____________________________________________________________________________________________ Project Plan TID No. 31 Creation City of Oshkosh Prepared by Ehlers Page 23 February 28, 2017 SECTION 11: Annexed Property There are no lands proposed for inclusion within the District that were annexed by the City on or after January 1, 2004. SECTION 12: Estimate of Property to be Devoted to Retail Business Pursuant to Wisconsin Statutes Sections 66.1105(5)(b) and 66.1105(6)(am)1, the City estimates that less than 35% of the territory within the District will be devoted to retail business at the end of the District’s maximum expenditure period. SECTION 13: Proposed Zoning Ordinance Changes The proposed Plan is in general conformance with the City of Oshkosh’s present zoning and no changes are anticipated to the Plan area’s Central Mixed Use – Planned Development (CMU-PD) Overlay zoning. SECTION 14: Proposed Changes in Master Plan, Map, Building Codes and City of Oshkosh Ordinances The proposed Plan is in general conformance with the City of Oshkosh’s Comprehensive Plan identifying the area as appropriate for mixed downtown development. All development within the District will be required to conform to the State Building Codes and will be subject to the City's permitting and inspection procedures. The proposed Plan conforms to all relevant State and local ordinances, plans, and codes, thus, no changes to the existing regulations are proposed or needed. SECTION 15: Relocation Implementation of this Plan will not require relocation of individuals or business operations. If relocation were to become necessary, it will be carried out in accordance with the relocation requirements set forth in Chapter 32 of the Wisconsin Statutes and the Federal Uniform Relocation Assistance and Real Property Acquisitions Policy Act of 1970 (P.L. 91-646) as applicable. _____________________________________________________________________________________________ Project Plan TID No. 31 Creation City of Oshkosh Prepared by Ehlers Page 24 February 28, 2017 SECTION 16: Orderly Development of the City of Oshkosh Creation of the District and the implementation of the projects in its Plan will promote the orderly development of the City of Oshkosh by eliminating blight and encouraging redevelopment of an underutilized site. By utilizing the provisions of the Tax Increment Finance Law, the City can stabilize property values and attract new investment that results in increased tax base. Development of new uses in the District will add to the tax base and will generate positive secondary impacts in the community such as increased employment opportunities and increased demand for retail, service and hospitality related services. SECTION 17: List of Estimated Non-Project Costs Non-Project costs are public works projects that only partly benefit the District or are not eligible to be paid with tax increments, or costs not eligible to be paid with TIF funds. Examples would include: A public improvement made within the District that also benefits property outside the District. That portion of the total project costs allocable to properties outside of the District would be a non-project cost. A public improvement made outside the District that only partially benefits property within the District. That portion of the total project costs allocable to properties outside of the District would be a non-project cost. Projects undertaken within the District as part of the implementation of this Project Plan, the costs of which are paid fully or in part by impact fees, grants, special assessments, or revenues other than tax increments. The City does not expect to incur any non-project costs in the implementation of this Project Plan. _____________________________________________________________________________________________ Project Plan TID No. 31 Creation City of Oshkosh Prepared by Ehlers Page 25 February 28, 2017 SECTION 18: Opinion of Attorney for the City of Oshkosh Advising Whether the Plan is Complete and Complies with Wisconsin Statutes 66.1105 _____________________________________________________________________________________________ Project Plan TID No. 31 Creation City of Oshkosh Prepared by Ehlers Page 26 February 28, 2017 Statement of Taxes Data Year: 2015 Percentage Winnebago County 19,019,113 19.58% City of Oshkosh 40,658,289 41.85% School District of Oshkosh Area 33,555,438 34.54% Fox Valley Technical College 3,910,234 4.03% Total 97,143,074 Revenue Year Winnebago County City of Oshkosh School District of Oshkosh Area Fox Valley Technical College Total Revenue Year 2019 95,092 203,283 167,771 19,550 485,696 2019 2020 95,092 203,283 167,771 19,550 485,696 2020 2021 95,092 203,283 167,771 19,550 485,696 2021 2022 95,092 203,283 167,771 19,550 485,696 2022 2023 95,092 203,283 167,771 19,550 485,696 2023 2024 95,092 203,283 167,771 19,550 485,696 2024 2025 95,092 203,283 167,771 19,550 485,696 2025 2026 52,829 112,935 93,206 10,861 269,831 2026 2027 52,829 112,935 93,206 10,861 269,831 2027 2028 52,829 112,935 93,206 10,861 269,831 2028 2029 52,829 112,935 93,206 10,861 269,831 2029 2030 52,829 112,935 93,206 10,861 269,831 2030 2031 52,829 112,935 93,206 10,861 269,831 2031 2032 52,829 112,935 93,206 10,861 269,831 2032 2033 52,829 112,935 93,206 10,861 269,831 2033 2034 52,829 112,935 93,206 10,861 269,831 2034 2035 52,829 112,935 93,206 10,861 269,831 2035 2036 52,829 112,935 93,206 10,861 269,831 2036 2037 52,829 112,935 93,206 10,861 269,831 2037 2038 52,829 112,935 93,206 10,861 269,831 2038 2039 52,829 112,935 93,206 10,861 269,831 2039 2040 52,829 112,935 93,206 10,861 269,831 2040 2041 52,829 112,935 93,206 10,861 269,831 2041 2042 52,829 112,935 93,206 10,861 269,831 2042 2043 52,829 112,935 93,206 10,861 269,831 2043 2044 52,829 112,935 93,206 10,861 269,831 2044 2045 52,829 112,935 93,206 10,861 269,831 2045 Total 1,722,218 3,681,688 3,038,511 354,079 8,796,497 Note: The projection shown above is provided to meet the requirements of Wisconsin Statute 66.1105(4)(i)4. Estimated portion of taxes that owners of taxable property in each taxing jurisdiction overlaying district would pay by jurisdiction. Exhibit A: Calculation of the Share of Projected Tax Increments Estimated to be Paid by the Owners of Property in the Overlying Taxing Jurisdictions __________________________________ d. Permit reduction of double parking row island width/area to 5 feet wide and less than 250 square feet in area. e. Allow zero (0) shade/deciduous trees per double parking row island, with the condition that six (6) shade/deciduous trees be planted along the northern perimeter of the parking lot. f. Allow chain link fencing with slats as the exterior materials of the dumpster enclosure with approval from Planning Services. 2. Base standard modification from the Access Control Ordinance to permit reduction of lateral clearance of the Wisconsin Street right-out exit to about 20 feet where code requires a 75 foot lateral clearance. Seconded by Vajgrt. Motion carried 9-0. III. PUBLIC HEARING ON PROPOSED CREATION OF TAX INCREMENT FINANCING DISTRICT #31 BUCKSTAFF REDEVELOPMENT; DESIGNATION OF BOUNDARIES AND APPROVAL OF PROJECT PLAN Tax Incremental District #31 (the “TID” or “District”) is a proposed 8.05 acre blighted area district located along South Main Street between East South Park Avenue and East 11th Avenue. The proposed District, referred to as the Buckstaff Redevelopment will be created to facilitate a proposed 8.05 acre, $21 million redevelopment project consisting of an 80,000 sq ft multi-purpose arena and public infrastructure improvements. The Canadian National Railroad owns an additional 0.72 acres within the proposed District with redevelopment potential. The City anticipates making total Project Cost expenditures of approximately $5.1 million to facilitate redevelopment within the District. This total is comprised of $5.1 million in potential “pay as you go” development incentives for $1.8 million for extraordinary site costs due to the contamination and site location and $3.3 million in street, utilities, and other public infrastructure improvements. Mr. Burich presented the item and introduced Todd Taves of Ehlers & Associates who are the financial consultants for the city and prepared the project plan for the proposed creation of the TIF District. He reviewed the site and surrounding area as well as the land use and zoning classifications in this area and discussed the purpose and costs of the proposed Distri ct. He reviewed the boundaries of the TIF District and discussed the storm water and remediation incentives. He discussed further the potential site redevelopment costs as it is a contaminated area and the costs for street and sidewalk reconstruction, and improvements necessary for signals at South Park Avenue and 11 th Avenue and sewer and water improvements. He reviewed the project costs and a rendering of the arena to be developed on the site and explained how the developer would be paying for the costs initially and the establishment of the TIF District would provide the funding mechanism to pay the developer back for these costs. Mr. Thoms questioned if the developm ent does not move forward, if the TIF District will be cancelled. Plan Commission Minutes February 7, 2017 costs and other site issues that would be addressed with the $5.1 million development Page 27 __________________________________ Mr. Burich responded affirmatively. Mr. Thoms then questioned if the establishment of the TIF District was to assist the developer with choosing Oshkosh for the location of their developme nt. Mr. Burich indicated that the establishment of the TIF District is showing that the community is willing to move forward with this project and will assist the developer in moving forward. Mr. Thoms commented that there is a portion of property added on the east of the subject site for the arena that is owned by the railroad. He questioned if the TIF District would cover the wrap around road extension that was discussed when the planned development of the arena was reviewed. Mr. Burich indicated that the TIF would have to be amended to add that aspect of the development at a later date if that plan was going to proceed. He further stated that the life of the proposed TIF would be 27 years. Mr. Kiefer inquired what will happen on 12th Avenue and what the current conditions of the road were. Mr. Gohde explained that 12th Avenue is 37 feet wide and was being included in the TIF District as the sewer pipes in that area may be too small to handle the capacity for the arena. He further explained that 12th Avenue is not a concrete street and he does not believe sewer capacity will be an issue as far as serving the arena and 12 th Avenue may not be required to be reconstructed. Mr. Burich stated that we add potential projects into the plan that may not move forward to ensure that all costs could be covered and that we can use TIF funding to pay it back if it is deemed necessary. Mr. Gohde commented that we do not need to move forward now with the potential street reconstruction to serve the arena. Mr. Burich added that if the street reconstruction is determined to not be necessary, it will reduce the overall project costs of the TIF District. Mr. Kiefer questioned if the 12th Avenue reconstruction costs are not included in the project plan. the TIF sooner than anticipated. Todd Taves, Ehlers & Associates, gave further explanation of project costs which have to be a direct result of the project that the TIF was created to support and that the developer cannot be required to pay for items that are not deemed necessary. Plan Commission Minutes February 7, 2017 Mr. Burich indicated that they were however if it was not needed the city will be able to pay off Page 28 FEBRUARY28, 2017 17-90 RESOLUTION CARRIED____7-0__ LOST________LAIDOVER________WITHDRAWN________) PURPOSE: APPROVETAXINCREMENT DISTRICT NO. 31 PROJECT PLAN; DESIGNATE TAXINCREMENTDISTRICT NO. 31BOUNDARIES; CREATE TAXINCREMENT DISTRICTNO. 31 BUCKSTAFF REDEVELOPMENT INITIATEDBY: CITY ADMINISTRATION PLAN COMMISSION RECOMMENDATION: Approved WHEREAS, theCityofOshkosh (the “City”) hasdetermined that useofTax Incremental Financing isrequiredtopromote development andredevelopment within theCity; and WHEREAS, TaxIncrement District No. 31 (the “District”) isproposed to be created bythe City asablightedarea district inaccordance withtheprovisions of Wisconsin StatutesSection 66.1105 (the "TaxIncrement Law"); and WHEREAS, aProject Planfor theDistrict hasbeen prepared that includes: a. Astatement listingthekind, numberand locationofallproposedpublicworks orimprovements withintheDistrict, orto theextent provided in Wisconsin Statutes Sections 66.1105(2)(f)1.k. and66.1105(2)(f)1.n., outsideoftheDistrict; b. Aneconomic feasibility study; c. Adetailed listofestimatedproject costs; d. Adescription ofthemethods offinancingallestimated projectcosts andthe timewhen the related costsormonetary obligationsaretobe incurred; e. Amap showingexistingusesand conditions ofrealpropertyin theDistrict; f. Amap showingproposed improvements anduses intheDistrict; g. Proposed changes ofzoningordinances, master plan, map, buildingcodesand Cityordinances; h. Alistofestimatednon-projectcosts; i. Astatement oftheproposed planfor relocation ofanypersons tobe displaced; Page 29 FEBRUARY28, 2017 17- 90 RESOLUTION CONTD j. Astatement indicating howtheDistrictpromotes theorderly development of theCity; k. AnopinionoftheCityAttorney orofanattorney retained bytheCityadvising that theplan is complete andcomplies withWisconsinStatutesSection 66.1105(4)(f); and WHEREAS, priortoitspublication, acopyofthe noticeofpublic hearingwas senttoowners ofallproperty intheproposeddistrict, tothechiefexecutive officers of Winnebago County, theOshkosh AreaSchool District, andthe FoxValley Technical CollegeDistrict, andanyother entities havingthepower tolevytaxesonproperty located withinthe District, inaccordance withthe procedures specifiedin theTaxIncrement Law; and WHEREAS, inaccordancewiththeprocedures specified in theTaxIncrement Law, thePlan Commission, onFebruary 7, 2017 helda publichearingconcerning the projectplanandboundariesandproposed creation ofthe District, providinginterested partiesareasonableopportunityto expresstheirviewsthereon; and WHEREAS, aftersaid publichearing, the PlanCommission designated the boundaries oftheDistrict, adoptedthe Project Plan, and recommended totheCommon Councilthatit createsuch District and approve theProjectPlan NOW, THEREFORE, BEITRESOLVED bytheCommonCouncil oftheCityof Oshkosh that: 1. The boundaries ofthe Districtshallbenamed "CityofOshkoshTax Increment District No. 31, Buckstaff Redevelopment", arehereby established asspecifiedinExhibit Aof thisResolution. 2. TheDistrict iscreatedeffective asofJanuary1, 2017. 3. TheCommonCouncil finds and declares that: a) Notlessthan50% byarea oftherealproperty withintheDistrictisa blightedareawithin themeaning ofWisconsin Statutes Section 66.1105(2)(a)1. Page 30 Page 31 Page 32