The final price that Oshkosh Corp. will pay for a portion of Lakeshore Municipal Golf Course so that it can build a new global headquarters has been put at $3.281 million.
In a resolution that will come before the Common Council next week, the company agrees to pay that amount for a total of 32.81 acres. This parcel size is slightly less than the original estimate that Oshkosh would need 35 acres for the project.
But there are still a few hitches to work through.
Perhaps not surprisingly, an archeological site has been identified on the land, which the city has agreed to document. Any artifacts that are recovered will go to the Oshkosh Public Museum, city officials said.
The company also will perform due diligence on the site, and the city is holding off on demolition of the clubhouse until it gets a green light that the sale will go through.
Issues related to zoning, land use and proposed tax increment financing also need to be addressed, and the city and the company still have to come to terms on the specifics of a development agreement.
Assuming the sale goes through, the city will use the proceeds first to pay off the golf course’s debt to the general fund, which in the current city budget is nearly $1 million. Another $350,000 will be held aside for projects related to the headquarters development, such as the demolition of the clubhouse.
The remaining $2 million or so will be put aside until the council decides what to do with that money.
The city has already agreed to $7.2 million in capital improvements for the headquarters project.