Explanation
BACKGROUND: Council adopted Revised Code Chapter 5722 Land Reutilization Program by Ordinance 2161-93 to facilitate effective reutilization of nonproductive land within the City's boundaries to foster either the return of such land to tax revenue generating status or retention for public use. Two (2) properties currently held in the Land Bank have 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.
FISCAL IMPACT: 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 two parcels of real property 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, one proposal for the sale of two parcels which have been acquired for this program meet the Land Reutilization Program's Disposition Policies and Guiding Principles and have been approved; and
WHEREAS, such these two parcels of real estate are being sold at not less than fair market value in conformity with Ohio Revised Code Section 5722.07; and
WHEREAS, in order to complete the transfer of such properties to the purchasers, 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; 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 parcels of real estate to qualified purchasers:
Parcel: 010-023818 Parcel: 010-047389
Address: 1200 E. Rich Street Address:364 Innis Avenue
Use: Single-family rehab Use: Multi-family rehab
Section 2. That this ordinance shall take effect and be in force from and after the earliest period allowed by law.