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A9DTT iF ZqA1 - 8 lS RESOLUTION
PURPOSE: ESTABLISHI`4ENT OF OSHKOSH MARINE SUPPLY, FAIR .SARKET VALUE
AND PURCHASE OF SAME
INITIATID BY: CITY ADMINISTRATION
WHEREAS, the Co�on Council of the City of Oshkosh has approved the
Redevelopment Plan for the Oshkosh Centre Redevelopment Project No. 1; and
WE�REAS, the Plan Co�ission has certified the project to the Co�on Council
as prescribed in Wisconsin Statutes, Section 66.43(5)(d); and
'v1HEREAS, three appraisals have been made on tha property described as
follocas (commonly known as the Oshkosh Marine Supply.):
L. M. Miller's lst Addition peY Leach's Map of 1894, Lot 11, Block 16,
8th Ward, City of Oshkosh, Winnebago County, Wisconsin.
WHEREAS, a review appraisal has been submitted to the Co�on Council in
accordance with Title 3 of the Uniform Relocation Assistance and Real Property
Acquisition Policies Act of 1970 and requirements of HUD Handbook 1376.1; and
WHEREAS, the property and interest to be acquired includes land and
buildings exclusive of equipment and fixtures, both moveable and immovable;
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Oshkosh
that the Common Council certifies that the work of the appraisers and the review
appraisal has been performed in a competent manner in accordance with applicable
state laws, the Uniform Act, and Department of Housing and Urban Development
policies and requirements;
BE IT FURTHER RESOLVED by the Co�on Council of the City of Oshkosh that
fair market value for the Oshkosh Marine Supply property is hereby established
at NINETY ONE THOUSAND ($91,000.00) DOLLARS, and that the proper
City officials are hereby authorized and directed to purchase said property in
that amount. Money for this purpose is hereby appropriated from Account No. 331-104,
Oshkosh Downtown Redevelopment Fund.
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BE IT FURTHER RESOLVED that the proper City officals are hereby au[fiorized
and directed to transfer the si� of $ 91,000.00 from Account No. 310-550, General
Fund Equity to Account No. 331-104, Oshkosh Downtown Redevelopment Fund. Said
money to be repaid to Account No. 310-550, General Fund Equity from the proceeds
of promissory notes issued pursuant to Section 67.1212 of the Wisconsin Statutes.
- 15B -
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