Explanation
Background: In 1970, the City as part of the Dennison Avenue Conversation Plan purchased two abutting lots at the northwest corner of West Fourth Avenue and Forsythe Avenue. Subsequently, it was determined that because of its size that the westernmost property was unbuildable. Consequently, the City sold both properties together with restrictive covenants, which prohibited any subsequent owner from splitting off either of the parcels, or selling either parcel separately. The current owner now has a separate buyer for each property, and requests that the City release its restrictive covenants on the subject properties, so they made be sold separately. After investigation by the Department of Development, it is recommended that the proposed restrictions be released. Releasing the restrictions has the support of the Victorian Village Commission. The following legislation authorizes the Director of the Department of Development to execute those documents necessary to release certain restrictive covenants, which prohibit the separate sale of the two aforementioned abutting lots.
Fiscal Impact: The Real Estate Division, Department of Law has established $250.00 as the value of the release of the subject restrictive covenants. The aforementioned fee shall be deposited into the proper fund as set forth in the body of this legislation.
Emergency Justification: N/A
Title
To authorize the Director of the Department of Development to execute those documents necessary to release certain restrictive covenants, which prohibit the separate sale of two abutting lots, located at 248 West and 250 West Fourth Avenue.
Body
WHEREAS, In 1970, the City purchased two abutting lots, located at the northwest corner Fourth Avenue and Forsythe Avenue, as part of the Dennison Avenue Conservation Plan; and
WHEREAS, Subsequently, the westernmost property was deemed unbuildable as a separate lot; and
WHEREAS, Upon sale of the lots, the City sold both properties together with restrictive covenants, which prohibited any subsequent owner from splitting off either of the parcels, or selling either parcel separately, and
WHEREAS, the current owner presently has a separate buyer for each property, and requests that the City release its restrictive covenants on the subject properties, so they made be sold separately, and
WHEREAS, the release of the restrictive covenants would permit the westernmost lot, which is currently vacant, to be developed and has support the Victorian Village Commission and the Department of Development; and
WHEREAS, the Real Estate Division, Department of Law, has determined the value of the release of the subject restrictive covenants to be $250.00 dollars now, therefore:
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the Director of the Department Development be, and hereby is authorized to execute those documents, prepared by the Department of Law, Real Estate Division, necessary to release certain restrictive covenants contained in the deed from the City, recorded in Official Records, Recorded Instrument Number Vol. 3490, Page 910 in the Recorder's Office, Franklin County, Ohio; which restrictions prohibit the separate sale of two abutting lots, located at 248 West (PID #010-044324) and 250 West Fourth Avenue (PID #010-040564).
Section 2. That the City Auditor be, and hereby is authorized and directed to deposit the Two Hundred Fifty Dollars ($250.00), to be received by the City as consideration for the release of the subject restrictive covenants in the appropriate fund.
Section 3. That this ordinance shall take effect and be in force from and after the earliest period allowed by law.