Explanation
Background: By Ordinance 3144-2018, Columbus City Council authorized the transfer to two properties held in the Land Reutilization Program to the Central Ohio Community Improvement Corporation (COCIC). The properties were originally acquired by the City as a part of the implementation of the East Franklinton Creative Community Plan and were made available by COCIC to lease to small businesses engaged in art-related businesses. With this legislation, the properties will be transferred back into City ownership and leased to the Franklinton Arts District (FAD), an Ohio nonprofit corporation. FAD is a local arts organization who will occupy a portion of one of the buildings and continue sublease agreements with the existing tenants. The agreement will require the establishment of ongoing building reserves from the income derived from the subleasing.
Fiscal Impact: No funding is required for this legislation.
Title
To authorize the Director of Development to accept deeds for real properties located at 503 W. Walnut Street (010-047939) and 566 W. Town Street (010-015023), Columbus, Ohio 43215 from the Central Ohio Community Improvement Corporation; to execute any and all necessary agreements and documents for the conveyance of the same; and to execute lease agreements with Franklinton Arts District, an Ohio nonprofit corporation. ($0.00)
Body
WHEREAS, by Ordinances 2609-2012 and 0690-2013, the City’s Department of Development acquired properties within the East Franklinton area and hold the properties under its Land Reutilization Program; and
WHEREAS, by Ordinance 3144-2018, the properties were transferred to the Central Ohio Community Improvement Corporation (COCIC) to hold on the behalf of the City and lease the buildings for uses consistent with the East Franklinton Creative Community District Plan; and
WHEREAS, COCIC now wishes to transfer ownership of the properties back to the City; and
WHEREAS, the City desires to accept the property and hold within its Land Reutilization Program; and
WHEREAS, the City desires to lease the properties to the Franklinton Arts District, who will occupy a portion of one of the buildings and sublease space in both buildings to the existing tenants; and
WHEREAS, the property will be transferred to the City by a deed recorded in the Franklin County, Ohio Recorder's Office; and
WHEREAS, it has become necessary in the usual daily operation of the City, to authorize the Director of the Department of Development to accept deeds for those improved real properties identified as 503 W. Walnut Street and 566 W. Town Street, Columbus, Ohio 43215 into its Land Reutilization Program, to execute any and all necessary agreements and documents for the conveyance of the same to the City from the Central Ohio Community Improvement Corporation, and to enter into lease agreements with the Franklinton Arts District, 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 Development, on the behalf of the City, be, and hereby is, authorized to accept Deeds and execute any and all necessary agreements and documents for the conveyance of the same, as approved by the Department of Law, Division of Real Estate, for those certain improved real properties identified as 503 W. Walnut Street, Columbus Ohio 43215, Franklin County Tax Parcel 010-047939 and as 566 W. Town Street, Columbus, Ohio 43215, Franklin County Tax Parcel 010-015023.
SECTION 2. That the Director of the Department of Development, on the behalf of the City, be, and hereby is, authorized to enter into lease agreements on the properties with the Franklinton Arts District, an Ohio nonprofit corporation, as approved by the Department of Law, Division of Real Estate, for the properties described in Section 1.
SECTION 3. That this ordinance shall take effect and be in force from and after the earliest period allowed by law.