Explanation
BACKGROUND: Two properties currently held in the Land Bank are 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. Columbus Compact Corporation will purchase a two-family dwelling located at 1037-1039 E. Main Street (010-051611) and a vacant lot at 1041-1043 E. Main Street (010-026196) to redevelop under the Neighborhood Stabilization Program. The properties will be transferred by deeds and recorded in the Official Records of the 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 of the property to allow the developer to meet the obligation deadline established by the Neighborhood Stabilization Program.
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 (1037-1039 E. Main Street and 1041-1043 E. Main Street) held in the Land Bank pursuant to the Land Reutilization Program; and to declare an emergency.
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 two parcels acquired pursuant to Section 5722.03 for this program, meet the Land Reutilization Program's Disposition Policies and Guiding Principles, and were approved; and
WHEREAS, such parcels of real estate are 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
WHEREAS, an emergency exists in the usual daily operation of the Department of Development, Land Redevelopment Office in that it is immediately necessary to convey title of said parcels of real estate to meet the obligation deadline established by the Neighborhood Stabilization Program, all for the immediate preservation of the public health, peace, property, safety and welfare; 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 parcels of real estate:
PARCEL NUMBER: 010-026196
ADDRESS: 1041-1043 E. Main Street
PARCEL NUMBER: 010-051611
ADDRESS: 1037-1039 E. Main Street
PRICE: $1,500.00
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 for the reasons stated in the preamble hereto, which is hereby made a part hereof, this Ordinance is hereby declared to be an emergency measure and shall take effect and be in force from and after its passage and approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.