Explanation
Background: This ordinance authorizes the Director of Finance and Management to sell that city-owned property located at 2682 Cleveland Avenue, Columbus, Ohio, containing approximately .302 acres and identified as Franklin County Auditor Tax Parcel 010-059116. This property is not needed to support city operations and is considered surplus. The Department of Finance and Management, Real Estate Management Office, marketed this surplus property for sale through a commercial real estate listing and received a purchase offer that has been negotiated with terms acceptable to the City.
This legislation authorizes the Director of Finance and Management to enter into a Real Estate Purchase and Sale Contract by and between the City and Executive Office Group, LLC, an Ohio limited liability company, for a sales price of Fifty Two Thousand Nine Hundred Dollars ($52,900.00) and to execute those documents necessary to grant fee simple title to the City’s real property situated at 2682 Cleveland Avenue, Columbus, Ohio and identified as Franklin County Auditor Tax Parcel 010-059116. The Buyer intends to rehabilitate the existing structure and convert it into office suites.
Fiscal Impact: The City will receive proceeds from the sale in the amount of $52,900.00 that will be deposited in Fund 7748, the General Permanent Improvement Fund.
Emergency Justification: Emergency action is requested to allow for the immediate execution of the agreement by the City so that the sale can proceed without delay to meet the closing deadline and other terms of the Real Estate Purchase and Sale Contract.
Title
To authorize the Director of Finance and Management to execute those documents necessary to enter into a Real Estate Purchase and Sale Contract with Executive Office Group, LLC for the sale of city-owned property located at 2682 Cleveland Avenue and to execute those documents necessary to grant fee simple title; and to declare an emergency.
Body
WHEREAS, the City is the owner of that real property located at 2682 Cleveland Avenue, Columbus, Ohio and identified as Franklin County Auditor Tax Parcel 010-059116; and
WHEREAS, the surplus real property has been offered to the public for sale through a commercial real estate listing; and
WHEREAS, the City received a purchase offer and has negotiated terms of the sale that are in the best interest of the City; and
WHEREAS the City desires to enter into a contract for the sale of approximately .302 acre of that certain city-owned real property located at 2682 Cleveland Avenue and identified as Franklin County Auditor Tax Parcel 010-059116, for the sale price of Fifty Two Thousand Nine Hundred Dollars ($52,900.00); and
WHEREAS, and emergency exists in the usual daily operation of the Department of Finance and Management in that it is immediately necessary to authorize the Director to execute those documents necessary to enter into and execute a sale contract by and between the City and Executive Office Group, LLC, an Ohio limited liability company, to meet the closing deadline and other terms of the Real Estate Purchase and Sale Contract, for the immediate preservation of the public health, peace, property, safety and welfare; now, therefore,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the Director of the Department of Finance and Management be and hereby is authorized to execute those documents necessary, on behalf of the City of Columbus, as prepared and approved by the Department of Law, Division of Real Estate, to enter into a Real Estate Purchase and Sale Contract by and between the City and Executive Office Group, LLC, for the sale of that certain city-owned property known as 2682 Cleveland Avenue and identified as Franklin County Auditor Tax Parcel 010-059116, and to execute a quitclaim deed and any ancillary documents necessary to grant fee simple title to that same real property.
SECTION 2. That the proceeds received by the City from the sale of the property shall be deposited in Fund 7748, the General Permanent Improvement Fund.
SECTION 3. 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.