Explanation
BACKGROUND: One parcel currently held in the Land Bank has been approved for disposition. In order to complete the transfer, authorization is needed for the Director of the Department of Development to execute any and all agreements and deeds for conveyance of the real property. This legislation authorizes transfer of one parcel located at 2055 Jermain Dr. (010-167484) to Antranik Baghasarian and Andy Magdesian, who will rehabilitate the existing structure to be maintained as a rental unit. The parcel will be transferred by deed recorded in the Official Records of the Franklin County Recorder’s Office.
FISCAL IMPACT: No funding is required for this legislation. The City may first recover reimbursement of any and all expenses incurred on account of the acquisition, administration, management, maintenance and disposition of such land and such other expenses of the program as the City may apportion to such land from the sale proceeds.
EMERGENCY JUSTIFICATION: Emergency action is requested to expedite the transfer in order to reduce Land Bank maintenance costs.
Title
To authorize the Director of the Department of Development to execute any and all necessary agreements and deeds for conveyance of title of one parcel of real property (2055 Jermain Dr.) held in the Land Bank pursuant to the Land Reutilization Program; and to declare an emergency.
Body
WHEREAS, the Land Redevelopment Office acquired this property after receipt of authorization to purchase parcels from the United States Department of Housing and Urban Development through the Good Neighbor Program by Ordinance 0106-2008, passed January 28, 2008; and
Whereas, by Ordinance 1325-98 Council adopted and elected to use the Revised Code Chapter 5722, Land Reutilization Program, to facilitate effective reutilization of nonproductive land acquired through a sale pursuant to a foreclosure proceeding initiated by the Franklin County Treasurer, or through a sale of forfeited lands by the Frankl...
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