Explanation
Background: The City of Columbus, which is in engaged in the redevelopment of the King Lincoln District area. Ordinance 1089-2004 authorized the City Attorney to pursue options to purchase real property in connection with the King Lincoln District Acquisition Project. The exercise of any option to purchase was made contingent upon future ordinances appropriating and authorizing the expenditure of such funds as are necessary for such purchases. The opportunity now exists for the City to purchase one of the real properties identified for acquisition, located at 113 North 17th Street. The Director of Development has requested the City Attorney to proceed with acquisition of this property. The acquisition of this property involves the City's assumption of a buyer's existing purchase contract. The following legislation authorizes the City Attorney to purchase "113 North 17th Street" by assuming an existing purchase contract in amount of $68,000.
Fiscal Impact: It has been determined that funding for this expenditure will be from the Northland and Other Acquisition Fund.
Emergency Justification: Emergency action is requested in order to allow for the immediate exercise of the City's purchase before the expiration date of the purchase contract.
Title
To authorize the City Attorney to purchase property necessary to the King Lincoln District Acquisition Project by assuming an existing purchase contract for that real estate located at 113 North 17th Street, to expend $68,000.00 from the Northland and Other Acquisition Fund and to declare an emergency. ($68,000.00).
Body
WHEREAS, Ordinance 1089-2004, passed on 6-28-04, authorized the City Attorney, to acquire options to purchase real property and to expend monies for payment of options in connection with the King Lincoln District Acquisition Project; and
WHEREAS, the Department of Development has requested the City Attorney to purchase the real property located at 113 North 17th Street; and
WHEREAS, acquisition of the subject property involves the City assuming the existing buyer's purchase contract; and
WHEREAS, the City desires to assume the purchase contract for the property located at 113 North 17th Street; and
WHEREAS, it is necessary to expend $68,000.00 from the Northland and Other Acquisition Fund in order to purchase the property; and
WHEREAS, an emergency exists in the usual daily operation of the City in that it is necessary to authorize the City Attorney's Office to assume the existing purchase contract for the real property located at "113 North 17th Street" before the expiration of the purchase contract in order to acquire one of the identified properties in the King Lincoln District in order to provide for the immediate preservation of the public health, peace, property and safety; now, therefore,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the City Attorney be, and hereby is, authorized to purchase the real property located at 113 North 17th Street through the assignment and assumption of an existing purchase contract for that property.
Section 2. That the expenditure of $68,000.00,or so much thereof as may be necessary, be and is hereby authorized from the Northland and Other Acquisition Fund, Fund 735, Capital Projects, Department 44-01, Project 441738, King Lincoln District Acquisition, Object Level Three 6601, OCA Code 441738.
Section 3. That for the reasons state in the preamble hereto, which 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 its passage if the Mayor neither approves nor vetoes the same.