HomeMy WebLinkAbouttid-39-final-project-plan
Organizational Joint Review Board Meeting: December 17, 2019
Public Hearing: December 17, 2019
Approval by Plan Commission: December 17, 2019
Adoption by Common Council: January 14, 2020
Approval by the Joint Review Board: January 20, 2020
December 17, 2019
Project Plan for the Creation of
Tax Incremental District No. 39
(Cabrini School Redevelopment)
Tax Incremental District No. 39 Creation
Project Plan
City of Oshkosh Officials
Common Council
Lori Palmeri Mayor
Steve Herman Deputy Mayor
Debra L. Allison-Aasby Council Member
Jake Krause Council Member
William Miller Council Member
Matt Mugerauer Council Member
Bob Poeschl Council Member
City Staff
Mark Rohloff City Manager
Allen Davis Community Development Director
Lynn Lorenson City Attorney
Mark Lyons Planning Services Manager
Kelly Nieforth Economic Development Services Manager
Russ Van Gompel Finance Director
Pamela Ubrig City Clerk
Plan Commission
Thomas Fojtik, Chair John Hinz
Kathleen Propp, Vice-Chair John Kiefer
Mamadou Coulibaly Justin Mitchell
Lynnsey Erickson Lori Palmeri, Mayor
Mike Ford Thomas Perry
Derek Groth
Joint Review Board
Mark Rohloff, City Manager City Representative
Mark Harris, County Executive Winnebago County
Amy Van Straten, Chief Financial Officer Fox Valley Technical College District
Barbara Herzog, School Board President Oshkosh School District
Burk Tower Public Member
Table of Contents
EXECUTIVE SUMMARY ........................................................................................................................................... 4
TYPE AND GENERAL DESCRIPTION OF DISTRICT ........................................................................................ 7
PRELIMINARY MAPS OF PROPOSED DISTRICT BOUNDARY ...................................................................... 8
MAPS SHOWING EXISTING USES AND CONDITIONS ................................................................................. 10
PRELIMINARY PARCEL LIST AND ANALYSIS ................................................................................................. 12
EQUALIZED VALUE TEST ..................................................................................................................................... 13
STATEMENT OF KIND, NUMBER AND LOCATION OF PROPOSED PUBLIC WORKS AND OTHER
PROJECTS ................................................................................................................................................................ 14
MAP SHOWING PROPOSED IMPROVEMENTS AND USES ......................................................................... 15
DETAILED LIST OF PROJECT COSTS .............................................................................................................. 17
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
PROPOSED CHANGES IN MASTER PLAN, MAP, BUILDING CODES AND CITY OF OSHKOSH
ORDINANCES .......................................................................................................................................................... 23
RELOCATION ........................................................................................................................................................... 23
ORDERLY DEVELOPMENT OF THE CITY OF OSHKOSH ............................................................................. 24
LIST OF ESTIMATED NON-PROJECT COSTS ................................................................................................. 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
THE OWNERS OF PROPERTY IN THE OVERLYING TAXING JURISDICTIONS ..................................... 26
_____________________________________________________________________________________________
TID No. 39 Project Plan City of Oshkosh
Prepared by Ehlers Page 4 December 17, 2019
SECTION 1: Executive Summary
Description of District
Tax Incremental District (“TID”) No. 39 (“District”) is a proposed district in need of rehabilitation or
conservation consisting of a 1.28-acre parcel at the location of the former St. Francis Cabrini School
which had stood vacant since 2017. The City has received an application from Northpointe Development
Corporation (“Developer”) for tax incremental financing (“TIF”) assistance to support rehabilitation of
the school structure for use as low-income senior apartments (“Project”). The Project will include
construction of approximately 35 apartment units and 26 single car garage units as well as surface
parking. The Project would be financed with a combination of Low-Income Housing Tax Credits
(LIHTC), Historic Tax Credits, Community Development Block Grant funds and a “pay as you go”
development incentive provided by the District. Developer intends to make application in early January
2020 to the Wisconsin Housing & Economic Development Authority for the tax credits. If credits are
awarded, Developer expects to commence construction in October of 2020 with Project completion and
occupancy in the summer of 2021. Developer is requesting creation of the District at this time as the
application for tax credits must include documentation of the Project’s funding sources and financial
feasibility.
Authority
The City is creating the District under the provisions of Wis. Stat. § 66.1105.
Estimated Total Project Cost Expenditures
The City anticipates making total expenditures of $582,500 (“Project Costs”) to undertake the projects
listed in this Project Plan (“Plan”). Project Costs include a $500,000 development incentive, and an
estimated $82,500 in District administrative expense. The potential incentive amount is based on
Developer’s assistance request. To the extent development incentives are provided, the amounts, timing
of and related conditions will be determined based on the City’s review and confirmation of a
demonstrated financing gap and may therefore vary from the assumptions used in the Plan for purposes of
assessing economic feasibility.
Incremental Valuation
The City projects that an incremental increase in land and improvements value of approximately
$1,830,000 will result from the Project. Creation of this additional value will be made possible by the
Project Costs made within the District. Assumptions as to the development timing and associated values
are included in Section 10 of this Plan.
Expected Termination of District
Based on the Economic Feasibility Study located within Section 10 of this Plan, the City anticipates that
the District will generate enough tax increment to pay all Project Costs by the year 2035, reflecting 14
years of tax increment collections, and 16 years of total elapsed time. If necessary, the District would be
permitted to remain open for up to 29 years, allowing for up to a total of 27 years of tax increment
collection.
_____________________________________________________________________________________________
TID No. 39 Project Plan City of Oshkosh
Prepared by Ehlers Page 5 December 17, 2019
Summary of Findings
As required by Wis. Stat. § 66.1105, and as documented in this 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 Plan: 1) would not occur; or 2) would not occur in the manner, at the values, or
within the timeframe desired by the City. The City recognizes the community need for
affordable senior housing which typically requires TIF participation. The Developer’s application
for TIF assistance reflects an Internal Rate of Return of 4.04% for the tax credit investor if
$500,000 in development incentives are provided to the Project, and a 1.41% return without
incentives. Developer has further stated that tax credit investors typically seek a 4% to 5.5%
return on similar projects. Based on the Developer’s representations in their application for TIF
assistance, the City has concluded that the Project would not likely proceed without a
development incentive. The specific amount and terms of any incentive provided to the Project
will be subject to additional due diligence undertaken by the City prior to approval of a
development agreement to include verification of the Project’s sources and uses, projected
cashflows, financing gap and investor returns. The City has elected to defer further analysis until
the Developer has secured the tax credit allocation for the Project.
2. The economic benefits of the 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 that in addition to the
incremental value expected to be created, the Project will result in rehabilitation and conservation
of the former school building, creation of affordable senior housing, and provision of
employment and commercial opportunities related to the construction and operation of the
Project.
3. The benefits of the proposal outweigh the anticipated tax increments to be paid by the
owners of property in the overlying taxing jurisdictions. As required by Wis. Stat. §
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 prepared and can be found in
Appendix A of this plan. However, because the Project would not occur without the use of tax
incremental financing, these tax increments would not be paid but for creation of the District.
Accordingly, the City finds that the benefits expected to be realized as set forth in this Plan
outweigh the value of the tax increments to be invested in the Project.
4. Not less than 50% by area of the real property within the District is in need of rehabilitation or
conservation within the meaning of Wis. Stat. § 66.1337(2m)(a) and as further detailed in Section
5 of the Plan.
5. Based on the foregoing finding, the District is designated a district in need of rehabilitation or
conservation based on the identification and classification of the property included within the
District.
6. The Project Costs relate directly to rehabilitating and conserving property, consistent with the
purpose for which the District is created.
_____________________________________________________________________________________________
TID No. 39 Project Plan City of Oshkosh
Prepared by Ehlers Page 6 December 17, 2019
7. Improvements to be made in the District are likely to significantly enhance the value of
substantially all of the other real property in the District.
8. The equalized value of taxable property in the District, plus the incremental value 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. That there are no parcels to be included within the District that were annexed by the City within
the three-year period preceding adoption of this Resolution.
10. That none of the territory within the District will be devoted to retail business at the end of the
District’s maximum expenditure period, pursuant to Wis. Stat.§ 66.1105(5)(b).
11. The Plan for the District is feasible and is in conformity with the Master Plan of the City.
_____________________________________________________________________________________________
TID No. 39 Project Plan City of Oshkosh
Prepared by Ehlers Page 7 December 17, 2019
SECTION 2: Type and General Description of District
The District is a proposed district in need of rehabilitation or conservation consisting of a 1.28 acre parcel
at the location of the former St. Francis Cabrini School which had stood vacant since 2017. The City has
received an application from Developer for TIF assistance to support rehabilitation of the school structure
for use as low-income senior apartments. The Project will include construction of approximately 35
apartment units and 26 single car garage units as well as surface parking. The Project would be financed
with a combination of Low-Income Housing Tax Credits (LIHTC), Historic Tax Credits, Community
Development Block Grant funds and a “pay as you go” development incentive provided by the District.
Developer intends to make application in early January 2020 to the Wisconsin Housing & Economic
Development Authority for the tax credits. If credits are awarded, Developer expects to commence
construction in October of 2020 with Project completion and occupancy in the summer of 2021.
Developer is requesting creation of the District at this time as the application for tax credits must include
documentation of the Project’s funding sources and financial feasibility.
_____________________________________________________________________________________________
TID No. 39 Project Plan City of Oshkosh
Prepared by Ehlers Page 8 December 17, 2019
SECTION 3: Preliminary Maps of Proposed District Boundary
_____________________________________________________________________________________________
TID No. 39 Project Plan City of Oshkosh
Prepared by Ehlers Page 9 December 17, 2019
_____________________________________________________________________________________________
TID No. 39 Project Plan City of Oshkosh
Prepared by Ehlers Page 10 December 17, 2019
SECTION 4: Maps Showing Existing Uses and Conditions
_____________________________________________________________________________________________
TID No. 39 Project Plan City of Oshkosh
Prepared by Ehlers Page 11 December 17, 2019
_____________________________________________________________________________________________
TID No. 39 Project Plan City of Oshkosh
Prepared by Ehlers Page 12 December 17, 2019
SECTION 5: Preliminary Parcel List and Analysis
The District will consist of a single tax parcel: Lot 2 (“Lot”) of a Certified Survey Map approved on
November 5, 2019. As of January 1, 2020, the Lot was part of the following parcel:
Parcel Number: 04-0435-000
Address: 605 Merritt Avenue
Owner: St. Mary’s Congregation
The Lot comprises 1.28 acres of the original 2.51-acre parent parcel and is the site of the former St.
Francis Cabrini School. The school structure, which has sat vacant for the past three years, will be
converted to a 35-unit low income senior apartment complex is in need of rehabilitation or conservation
as defined in Wis. Stat. § 66.1337(2m)(a). Specifically, the Project will involve carrying out plans for a
program of voluntary repair and rehabilitation of buildings or other improvements as identified below.
The rehabilitation of the building will include:
• ADA accessibility improvements which includes installing an elevator.
• The interior must be modified for apartments which will include new code-compliant spaces for
bedrooms, bathrooms and kitchens.
• The plumbing system must be replaced.
• The HVAC system must be replaced.
• The electrical system must be replaced.
The conservation of the building exterior will include:
• Brick maintenance and tuck pointing.
• Window replacement.
• Door replacement.
• Roof and stairway repairs as needed.
_____________________________________________________________________________________________
TID No. 39 Project Plan City of Oshkosh
Prepared by Ehlers Page 13 December 17, 2019
SECTION 6: Equalized Value Test
The following calculations demonstrate that the City expects to be in compliance with Wis. Stat. §
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 $176,732,100, or about 4.2% of the City’s total equalized value. This
value is less than the maximum of $505,391,460 in equalized value that is permitted for the City.
District Creation Date 1/14/2020
Valuation Data
Currently Available
2019
Total EV (TID In)4,211,595,500
12% Test 505,391,460
Increment of Existing TIDs 176,732,100
Projected Base Value of District 0
Total Value Subject to 12% Test 176,732,100
Compliance PASS
City of Oshkosh, Wisconsin
Tax Increment District # 39
Valuation Test Compliance Calculation
_____________________________________________________________________________________________
TID No. 39 Project Plan City of Oshkosh
Prepared by Ehlers Page 14 December 17, 2019
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 as outlined in this Plan. Project Costs will be diminished by any income, special
assessments or other revenues, including user fees or charges, other than tax increments, received or
reasonably expected to be received in connection with the implementation of the Plan. If Project Costs
incurred benefit territory outside the District, a 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, design and construction is completed. With all Project Costs, 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. The following is a list of public works and other tax incremental financing
eligible Project Costs that the City expects to make, or may need to make, in conjunction with the
implementation of the District’s Plan. The map found in Section 7 of this Plan along with the Detailed
List of Project Costs found in Section 9 provide additional information as to the kind, number and
location of potential Project Costs.
Community Development
Cash Grants (Development Incentives)
The City may enter into agreements with property owners, lessees, or developers of land located within
the District for 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.
Miscellaneous
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 relating to the implementation of the Plan.
_____________________________________________________________________________________________
TID No. 39 Project Plan City of Oshkosh
Prepared by Ehlers Page 15 December 17, 2019
SECTION 8: Map Showing Proposed Improvements and Uses
_____________________________________________________________________________________________
TID No. 39 Project Plan City of Oshkosh
Prepared by Ehlers Page 16 December 17, 2019
_____________________________________________________________________________________________
TID No. 39 Project Plan City of Oshkosh
Prepared by Ehlers Page 17 December 17, 2019
SECTION 9: Detailed List of Project Costs
The following list identifies the Project Costs that the City may incur in implementing the District’s Plan.
All projects identified, and related costs reflect the best estimates available as of the date of preparation of
this Plan. All costs are preliminary estimates and may increase or decrease. Certain Project Costs listed
may become unnecessary, and other Project Costs not currently identified may need to be made. (Section
7 details the general categories of eligible Project Costs). Changes in Project Cost totals or the types of
Project Costs to be incurred will not require that this Plan be amended. This Plan is not meant to be a
budget nor an appropriation of funds for specific Project Costs, but a framework within which to manage
Project Costs.
Project Name/Type Timeframe Total
Development Incentives1 2023 - 2035 500,000$
TIF Administrative Expenses 2020 - 2035 82,500$
Total Projects 582,500$
Notes:
1 Incentive shown reflects requested amount from Developer's TIF Application dated 10-23-2019, and is identified for
1 purposes of establishing economic feasibility only. The City has not agreed to final terms or conditions with Developer.
City of Oshkosh, Wisconsin
Tax Increment District # 39
Detailed List of Project Costs
_____________________________________________________________________________________________
TID No. 39 Project Plan City of Oshkosh
Prepared by Ehlers Page 18 December 17, 2019
SECTION 10: Economic Feasibility Study, Financing Methods, and the
Time When Costs or Monetary Obligations Related are to
be Incurred
This Section includes a forecast of the valuation increases expected within the District, the associated tax
increment collections, a summary of how Project Costs would be financed, and a projected cash flow
demonstrating that the District is economically feasible.
Key Assumptions
The Project Costs the City plans to make are expected to create $1,830,000 in incremental value by
January 1, 2022. The development Project estimated valuations and timing are included in Table 1.
Assuming the City’s current equalized TID Interim tax rate of $25.11 per thousand of equalized value,
and no economic appreciation or depreciation, the Project would generate $1,194,350 in incremental tax
revenue over the 27-year term of the District as shown in Table 2.
_____________________________________________________________________________________________
TID No. 39 Project Plan City of Oshkosh
Prepared by Ehlers Page 19 December 17, 2019
35 Unit Senior
Apt. Complex Annual Total
1 2020 0 2020 1
2 2021 1,830,000 1,830,000 2021 2
3 2022 0 2022 3
4 2023 0 2023 4
5 2024 0 2024 5
6 2025 0 2025 6
7 2026 0 2026 7
8 2027 0 2027 8
9 2028 0 2028 9
10 2029 0 2029 10
11 2030 0 2030 11
12 2031 0 2031 12
13 2032 0 2032 13
14 2033 0 2033 14
15 2034 0 2034 15
16 2035 0 2035 16
17 2036 0 2036 17
18 2037 0 2037 18
19 2038 0 2038 19
20 2039 0 2039 20
21 2040 0 2040 21
22 2041 0 2041 22
23 2042 0 2042 23
24 2043 0 2043 24
25 2044 0 2044 25
26 2045 0 2045 26
27 2046 0 2046 27
Totals 1,830,000 1,830,000
Notes:
1Estimated valuation taken from Developer's TIF Application dated 10-23-2019. Developer anticipates
1Project completion and occupancy in summer of 2021.
City of Oshkosh
Tax Increment District # 39
Development Assumptions1
Construction Year Construction Year
Table 1 – Development Assumptions
_____________________________________________________________________________________________
TID No. 39 Project Plan City of Oshkosh
Prepared by Ehlers Page 20 December 17, 2019
0
2 2021 1,830,000 2022 0 1,830,000 2023 $25.11 45,943
3 2022 0 2023 0 1,830,000 2024 $25.11 45,943
4 2023 0 2024 0 1,830,000 2025 $25.11 45,943
5 2024 0 2025 0 1,830,000 2026 $25.11 45,943
6 2025 0 2026 0 1,830,000 2027 $25.11 45,943
7 2026 0 2027 0 1,830,000 2028 $25.11 45,943
8 2027 0 2028 0 1,830,000 2029 $25.11 45,943
9 2028 0 2029 0 1,830,000 2030 $25.11 45,943
10 2029 0 2030 0 1,830,000 2031 $25.11 45,943
11 2030 0 2031 0 1,830,000 2032 $25.11 45,943
12 2031 0 2032 0 1,830,000 2033 $25.11 45,943
13 2032 0 2033 0 1,830,000 2034 $25.11 45,943
14 2033 0 2034 0 1,830,000 2035 $25.11 45,943
15 2034 0 2035 0 1,830,000 2036 $25.11 45,943
16 2035 0 2036 0 1,830,000 2037 $25.11 45,943
17 2036 0 2037 0 1,830,000 2038 $25.11 45,943
18 2037 0 2038 0 1,830,000 2039 $25.11 45,943
19 2038 0 2039 0 1,830,000 2040 $25.11 45,943
20 2039 0 2040 0 1,830,000 2041 $25.11 45,943
21 2040 0 2041 0 1,830,000 2042 $25.11 45,943
22 2041 0 2042 0 1,830,000 2043 $25.11 45,943
23 2042 0 2043 0 1,830,000 2044 $25.11 45,943
24 2043 0 2044 0 1,830,000 2045 $25.11 45,943
25 2044 0 2045 0 1,830,000 2046 $25.11 45,943
26 2045 0 2046 0 1,830,000 2047 $25.11 45,943
27 2046 0 2047 0 1,830,000 2048 $25.11 45,943
Totals 1,830,000 0 Future Value of Increment 1,194,530
Notes:
City of Oshkosh
Tax Increment District # 39
Tax Increment Projection Worksheet
Table 2 – Tax Increment Projection Worksheet
_____________________________________________________________________________________________
TID No. 39 Project Plan City of Oshkosh
Prepared by Ehlers Page 21 December 17, 2019
Financing and Implementation
The City anticipates making total Project Cost expenditures of $582,500 including a $500,000
development incentive, and an estimated $82,500 in District administrative expense. The potential
incentive amount is based on Developer’s assistance request. To the extent development incentives are
provided, the amounts, timing of and related conditions will be determined based on the City’s review
and confirmation of a demonstrated financing gap and may therefore vary from the assumptions used in
the Plan for purposes of assessing economic feasibility.
Development incentive payments will be paid from tax increments as they are collected on a “pay as you
go” basis. Administrative expenses will be paid from tax increments collected, or from advances from
other funds to the extent those costs exceed cash amounts available. The City will recover any amounts
advanced to the District as cash flows permit.
Based on the cash flow exhibit (Table 3), the City anticipates that the District will generate enough tax
increment to pay all Project Costs by the year 2035, reflecting 14 years of tax increment collections, and
16 years of total elapsed time. If necessary, the District would be permitted to remain open for up to 29
years, allowing for up to a total of 27 years of tax increment collection. The projected closure is based on
the various assumptions noted in this Plan and will vary dependent on actual Project Costs incurred and
the actual amount of tax increments collected.
_____________________________________________________________________________________________
TID No. 39 Project Plan City of Oshkosh
Prepared by Ehlers Page 22 December 17, 2019
Cash Flow
City of Oshkosh
Tax Increment District # 39
Cash Flow Projection
Year
90%Year
2020 15,000 15,000 15,000 15,000 0 0 2020
2021 4,500 4,500 4,500 4,500 0 0 0 2021
2022 0 4,500 4,500 4,500 4,500 0 0 500,000 2022
2023 45,943 45,943 41,349 4,500 45,849 94 94 458,651 2023
2024 45,943 45,943 41,349 4,500 45,849 94 189 417,302 2024
2025 45,943 45,943 41,349 4,500 45,849 94 283 375,953 2025
2026 45,943 45,943 41,349 4,500 45,849 94 377 334,603 2026
2027 45,943 45,943 41,349 4,500 45,849 94 472 293,254 2027
2028 45,943 45,943 41,349 4,500 45,849 94 566 251,905 2028
2029 45,943 45,943 41,349 4,500 45,849 94 660 210,556 2029
2030 45,943 45,943 41,349 4,500 45,849 94 755 169,207 2030
2031 45,943 45,943 41,349 4,500 45,849 94 849 127,858 2031
2032 45,943 45,943 41,349 4,500 45,849 94 943 86,509 2032
2033 45,943 45,943 41,349 4,500 45,849 94 1,038 45,160 2033
2034 45,943 45,943 41,349 4,500 45,849 94 1,132 3,810 2034
2035 45,943 45,943 3,810 31,410 4,500 39,720 6,223 7,356 0 2035
2036 45,943 45,943 0 45,943 53,299 0 2036
2037 45,943 45,943 0 45,943 99,243 0 2037
2038 45,943 45,943 0 45,943 145,186 0 2038
2039 45,943 45,943 0 45,943 191,130 0 2039
2040 45,943 45,943 0 45,943 237,073 0 2040
2041 45,943 45,943 0 45,943 283,017 0 2041
2042 45,943 45,943 0 45,943 328,960 0 2042
2043 45,943 45,943 0 45,943 374,903 0 2043
2044 45,943 45,943 0 45,943 420,847 0 2044
2045 45,943 45,943 0 45,943 466,790 0 2045
2046 45,943 45,943 0 45,943 512,734 0 2046
2047 45,943 45,943 0 45,943 558,677 0 2047
2048 45,943 45,943 0 0 45,943 604,620 (0)2048
Total 1,194,530 24,000 1,218,530 500,000 31,410 82,500 613,910 Total
Notes:
1Incentive shown reflects requested amount from Developer's TIF Application dated 10-23-2019, and is identified for purposes of establishing economic feasibility only.
1The City has not agreed to final terms or conditions with Developer.
Projected Revenues
Tax
Increments
Advance to
Cover Admin.
Expense
Total
Expenditures
Repay
Advance @
2% Interest
Balances
Admin.
Expense
Projected Expenditures
MRO
Payments
Outstanding
Development
Incentives
(MRO)1 @
Projected TID Closure
Annual Cumulative
Total
Revenues
Table 3
_____________________________________________________________________________________________
TID No. 39 Project Plan City of Oshkosh
Prepared by Ehlers Page 23 December 17, 2019
SECTION 11: Annexed Property
A tax incremental district cannot include annexed territory unless at least three years have elapsed since
the annexation, or certain other requirements are met. None of the property within the proposed District
boundary was annexed during the past three years.
SECTION 12: Estimate of Property to be Devoted to Retail Business
Pursuant to Wis. Stat. § 66.1105(5)(b), the City estimates that none 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 territory to be included in the District is presently zoned I, Institutional District and will be rezoned to
I – PD, Institutional District with a Planned Development Overlay to allow for construction of the Project.
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’s Comprehensive Plan identifying the area as
appropriate for a Community Facility. The Institutional District with a Planned Development Overly is
consistent with the Comprehensive Plan. Development within the District will be required to conform to
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. 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. Should
implementation of this Plan require relocation of individuals or business operations, relocations will be
handled in compliance with Wis. Stat. Chapter 32 and Wis. Admin. Code ADM 92.
_____________________________________________________________________________________________
TID No. 39 Project Plan City of Oshkosh
Prepared by Ehlers Page 24 December 17, 2019
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 through the provision of appropriate financial incentives that will result in
rehabilitation and conservation of property, and creation of affordable senior housing. Through use of tax
increment financing, the City can attract new investment that results in increased tax base. Development
will occur in an orderly fashion in accordance with approved plans so that the Project will be compatible
with adjacent land uses. Redevelopment of the existing structure within the District will add to the tax
base and will generate positive secondary impacts such as employment and commercial opportunities
related to the construction and operation of the Project.
SECTION 17:
List of Estimated Non-Project Costs
Non-project costs are public works projects which only partly benefit the District. Costs incurred that do
not benefit the District may not be paid with tax increments. Examples of non-project costs are:
• 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.
At present, the City has not identified any non-project costs associated with implementation of the Plan. If
the District is unable to fully fund all Project Costs required to implement the Plan, those costs will
become non-project costs to the extent they are funded from other sources. If, in the course of
implementation of the Plan: 1) improvements are made within the District that benefit property outside
the District; or 2) improvements are made outside the District that will only partially benefit the District;
the City will apportion those costs based on a reasonable allocation of the benefit. The costs related to
benefit received by properties outside the District are non-project costs.
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TID No. 39 Project Plan City of Oshkosh
Prepared by Ehlers Page 25 December 17, 2019
SECTION 18: Opinion of Attorney for the City of Oshkosh Advising
Whether the Plan is Complete and Complies with
Wisconsin Statutes 66.1105
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TID No. 39 Project Plan City of Oshkosh
Prepared by Ehlers Page 26 December 17, 2019
DOR Form PC-202 2018/19 Percentage
Winnebago County 749,693 20.22%
City of Oshkosh 1,482,441 39.98%
Oshkosh Area School District 1,320,217 35.60%
Fox Valley Techncial College 156,024 4.21%
Total 3,708,374
Total 241,489 477,519 425,264 50,258 1,194,530
Notes:
§ 66.1105(4)(i)4.
Estimated Portion of Taxes that Owners of Taxable Property in Each Taxing Jurisdiction
Overlaying District Would Pay by Jurisdiction1
Exhibit A: Calculation of the Share of Projected Tax Increments
Estimated to be Paid by the Owners of Property in the
Overlying Taxing Jurisdictions