Explanation
BACKGROUND: One property 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 such real property. This parcel will be purchased by Matt V. Glaser for new construction of infill structure at 514 Second Avenue.
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.
Title
To authorize the Director of the Department of Development to execute any and all necessary agreements and deeds for conveyance of title of a parcel of real property (514 Second Avenue) held in the Land Bank pursuant to the Land Reutilization Program.
Body
WHEREAS, by Ordinance 2161-93 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 Franklin County Auditor or through a conveyance in lieu of foreclosure to foster either return of such land to tax revenue generating status or its devotion to public use; and
WHEREAS, a proposal for the sale of one parcel which has been acquired pursuant to Section 5722.03 for this program meet the Land Reutilization Program's Disposition Policies and Guiding Principles and has been approved; and
WHEREAS, such parcel of real estate is being sold at not less than fair market value in conformity with Ohio Revised Code Section 5722.07, competitive bidding is not required; and
WHEREAS, under 5722.07 "fair market value" means the appraised value of the nonproductive land made with reference to such redevelopment and reutilization restrictions as may be imposed by the electing subdivision as a condition of sale or as may be otherwise applicable to such land; and
WHEREAS, in order to complete the transfer of such property to the purchaser, authority is needed for the Director of the Department of Development to execute any and all necessary agreements and deeds of conveyance for such real property; and Now Therefore,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the Director of the Department of Development is hereby authorized and directed to execute any and all necessary agreements and deeds to convey title of the following parcel of real estate:
PARCEL NUMBER: 010-019851
ADDRESS: 514 Second Avenue
PRICE: $500.00
USE: New construction of infill at 514 Second Avenue
514 Second Avenue (010-119851)
Being Lot Number (87) of Terrace View Addition, as the same is numbered and delineated upon the recorded plat thereof, of record in Plat Book 4, Page 250, Recorder's Office, Franklin County, Ohio.
Section 2. That for good cause shown, Section 329.29 of the Columbus City Codes, 1959, is hereby waived.
Section 3. That Council hereby finds that the selection process utilized in this matter is in accordance with the Land Bank Disposition Process created pursuant to the City's Land Reutilization Program and hereby approves the same.
Section 4. That this ordinance shall take effect and be in force from and after the earliest period provided by law.