Explanation
Background: The City of Columbus ("City") desires to purchase 52.1 +/- acres of real property situated generally north of Ruhl Avenue, east of Gould Road, south of Allegheny and west of James Road, more fully described in the body of this legislation. Frederick L. Ransier, as the Court Appointed Receiver in connection with that certain case known as Belfor USA Group, Inc. v. Woodland Meadows Partners, LLC, et al., Case No. 2:05-cv-01023 ("Federal Court Action") and on behalf of the fee simple owner Woodland Meadows Partners, LLC, desires to sell the property to the City. The purchase of the real property will create an opportunity to bring it into productive re-use, eliminate an attractive nuisance and to generate tax revenue for the City of Columbus. After investigation, the Department of Development has determined that the purchase of the property would be in the best interest of the City of Columbus and should be allowed. It is therefore necessary to expend $2,010,000.00 from the Northland and Other Acquisitions Fund 735 in order to purchase the subject real property.
Fiscal Impact: Bonds have yet to be sold for this project, necessitating a certification of $2,000.000.00 against the Special Income Tax Fund. Upon sale of bonds, this will be reimbursed
Emergency Justification: Emergency action is requested to allow the purchase of the subject real property without delay in order to comply with conditions imposed on the sale through foreclosure proceedings in Franklin County Common Pleas Court.
Title
To authorize the Director of the Development Department to execute those documents necessary to purchase that real property formerly known as Woodland Meadows in order to bring it into productive re-use; to amend the 2010 CIB; to transfer cash between projects within the same fund; to authorize and direct the City Auditor to transfer $2,000,000.00 from the Special Income Tax Fund to the Northland and Other Acquisitions Fund; to authorize the City Auditor to appropriate $2,010,000.00 within the Northland and Other Acquisitions Fund; to authorize the expenditure of $2,010,000.00 from the Northland and Other Acquisitions Fund; and to declare an emergency. ($2,010,000.00).
Body
WHEREAS, the City of Columbus ("City") desires to purchase that 52.1 +/- acre real property situated generally north of Ruhl Avenue, east of Gould Road, south of Allegheny and west of James Road, more fully described in the body of this legislation; and
WHEREAS, Frederick L. Ransier, as the Court Appointed Receiver in connection with that certain case known as Belfor USA Group, Inc. v. Woodland Meadows Partners, LLC, et al., Case No. 2:05-cv-01023 ("Federal Court Action") and on behalf of the fee simple owner Woodland Meadows Partners, LLC, desires to sell the property to the City; and
WHEREAS, after investigation, the Department of Development has determined that the purchase of the property would be in the best interest of the City of Columbus and should be allowed; and
WHEREAS, it is necessary to transfer funds from the Special Income Tax Fund to this project; and
WHEREAS, the City will sell notes or bonds to fund this project and will reimburse the Special Income Tax Fund; and
WHEREAS, this transfer should be considered as a temporary funding method; and
WHEREAS, the aggregate principal amount of obligations which the City will issue to finance this purchase is presently expected not to exceed $2,000,000.00; and
WHEREAS, the City anticipates incurring certain Original Expenditures (as defined in Section 1.150-2(c) of the Treasury Regulations (the "Treasury Regulations") promulgated pursuant to the Internal Revenue Code of 1986, as amended) with respect to the project described in this ordinance (the "Project");
WHEREAS, it is necessary to expend $2,010,000.00 from the Northland and Other Acquisitions Fund in order to purchase the subject real property; and
WHEREAS, an emergency exists in the usual daily operation of the City of Columbus, in that it is immediately necessary to authorize the Director of the Department of Development to execute those documents necessary for the purchase of said real property without delay in order to comply with conditions imposed on the sale through foreclosure proceedings in Franklin County Common Pleas Court, all 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 Director of the Department of Development be, and hereby is, authorized to execute those documents, as approved by the Department of Law, Real Estate Division, necessary for the purchase of fee simple title to the following described real property:
22.108 ACRE TRACT
Situated in the State of Ohio, County of Franklin, City of Columbus, being located in Section 6, Township 12, Range 21, Refugee Lands and being part of those tracts of land conveyed to Calhoun Investment Co., by deed of record in Official Record 996H11, all references being to records in the Recorder's Office, Franklin County, Ohio and bounded and described as follows:
Being at the point of intersection of the westerly right-of-way line of James Road with the southerly right-of-way line of Allegheny Avenue (as dedicated by plat of record in Plat Book 23, Page 25);
thence South 10° 08' 20" East, along said right-of-way line of James Road, a distance of 175.36 feet to a point of curvature of a curve to the right;
thence continuing along said right-of-way line, being the arc of said curve (Delta = 13° 38' 00", Radius = 2236.83 feet), a chord bearing and distance of South 1° 29' 00" East, 530.99 feet to a point of tangency;
thence South 5° 20' 00" West, continuing along said right-of-way line, a distance of 46.1 feet to a point;
thence South 84° 40' 00" East, continuing along said right-of-way line, a distance of 25.00 feet to a point;
thence South 5° 20' 00" West, continuing along said right-of-way line, a distance of 70.50 feet to a point in the northerly right-of-way line of Ruhl Avenue (50 feet in width);
thence North 85° 58' 00" West, along said right-of-way line of Ruhl Avenue, a distance of 1269.30 feet to the intersection of said right-of-way line with the easterly right-of-way line of Virginialee Road (as dedicated by plat of record in Plat Book 23, Page 25 and being 50 feet in width);
thence North 4° 02' 00" East, along said right-of-way line of Virginalee Road, a distance of 325.00 feet to a point of curvature of a curve to the right;
thence along the arc of said curve (Delta = 90° 00' 00", Radius = 125.00 feet) a chord bearing and distance of North 49° 02' 00" East, 176.78 feet to a point of tangency in the southerly right-of-way line of Virginalee Road East (as dedicated by plat of record in Plat Book 23, Page 25);
thence South 85° 58' 00" East, along said right-of-way line of Virginalee Road East, a distance of 10.00 feet to a point of curvature of a curve to the left;
thence continuing along said right-of-way line and being the arc of said curve (Delta = 90° 00' 00", Radius = 175.00 feet) a chord bearing and distance of North 49° 02' 00" East, 247.49 feet to a point of tangency;
thence North 4° 02' 00" East, continuing along said right-of-way line, a distance of 320.00 feet to the intersection of said line with the southerly right-of-way line of Allegheny Avenue;
thence South 85° 58' 00" East, along said right-of-way line of Allegheny Avenue, a distance of 383.01 feet to a point of curvature of a curve to the right;
thence continuing along said right-of-way line, being the arc of said curve (Delta = 20° 10' 00", Radius = 120.00 feet), a chord bearing and distance of South 75° 53' 00" East, 42.02 feet to a point of tangency;
thence South 65° 48' 00" East, continuing along said right-of-way line, a distance of 335.76 feet to a point of curvature of a curve to the left;
thence continuing along said right-of-way line and being the arc of said curve (Delta = 32° 27' 20" East, Radius = 180.00 feet), a chord bearing and distance of South 82° 01' 45" East, 100.61 feet to a point of tangency;
thence North 81° 44' 30" East, continuing along said right-of-way line, a distance of 3.12 feet to the point of beginning, containing 22.108 acres, more or less.
Subject however, to all legal rights-of-ways and/or easements, if any, of previous record.
Bearings contained herein are based on the same meridian as the southerly right-of-way line of Allegheny Avenue (South 85° 58' 00" East), of record in Plat Book 23, Page 25.
19.986 ACRE TRACT
Situated in the State of Ohio, County of Franklin, City of Columbus, being located in Section 6, Township 12, Range 21, Refugee Lands and being part of those tracts of land conveyed to Calhoun Investment Co., by deed of record in Official Record 996H11, all references being to records in the Recorder's Office, Franklin County, Ohio and bounded and described as follows:
Beginning at the point of intersection of the easterly right-of-way line of Gould Road (60 feet in width), with the northerly right-of-way line of Ruhl Avenue (50 feet in width);
thence North 3° 53' 00" East, along said easterly right-of-way line of Gould Road, a distance of 945.00 feet to the point of intersection of said right-of-way line, with the southerly right-of-way line of Allegheny Avenue (60 feet in width);
thence South 85° 58' 00" East, along said right-of-way line of Allegheny Avenue, a distance of 1013.06 feet to a point in the westerly right-of-way line of Virginalee Road North (as dedicated by plat of record in Plat Book 23, Page 25);
thence South 4° 02' 00" West, along said right-of-way line of Virginalee Road West, a distance of 320.00 feet to a point of curvature of a curve to the left;
thence continuing along said right-of-way line of Virginialee Road West, being the arc of said curve (Delta = 49° 17' 06", Radius = 175.00), a chord bearing and distance of South 20° 36' 33" East, 145.93 feet to a point in the westerly right-of-way line of Chesterfield Road (50 feet in width);
thence along said right-of-way line of Chesterfield Road, the following courses and distances;
South 36° 32' 00" West, 144.28 feet to a point of curvature of a curve to the right;
South 45° 32' 00" West, 117.33 feet, a chord bearing and distance of said curve (Delta = 18° 00' 00", Radius = 375.00 feet), to a point;
South 54° 32' 00" West, 116.73 feet to a point of curvature of a curve to the right;
South 74° 17' 00" West, 84.48 feet, a chord bearing and distance of said curve (Delta = 39° 30' 00", Radius = 125.00 feet), to a point;
North 85° 58' 00" West, 124.31 feet to a point; and
South 4° 02' 00" West, 180.00 feet to the point of intersection of the right-of-way line of Chesterfield Road with the northerly right-of-way line of Ruhl Avenue;
thence North 85° 58' 00" West, along said right-of-way line of Ruhl Avenue, a distance of 622.28 feet to the point of beginning, containing 19.986 acres more or less.
Subject however, to all legal rights-of-ways and/or easements, if any, of previous record.
Bearings contained herein are based on the same meridian as the southerly right-of-way line of Allegheny Avenue (South 85° 58' 00" East), of record in Plat Book 23, Page 25.
5.669 ACRE TRACT
Situated in the State of Ohio, County of Franklin, City of Columbus, being located in Section 6, Township 12, Range 21, Refugee Lands and being part of those tracts of land conveyed to Calhoun Investment Co., by deed of record in Official Record 996H11, all references being to records in the Recorder's Office, Franklin County, Ohio and bounded and described as follows:
Beginning at the point of intersection of the southerly right-of-way line of Allegheny Avenue (being 60 feet in width) with the westerly right-of-way line of Virginalee Road East (50 feet in width and as dedicated by plat of record in Plat Book 23, Page 25).
thence South 4° 02' 00" West, along said right-of-way line of Virginialee Road East, a distance of 320.00 feet to a point of curvature of a curve to the right;
thence along the arc of said curve (Delta = 90° 00' 00", Radius = 125.00 feet), a chord bearing and distance of South 49° 02' 00" West, 176.78 feet to a point of tangency in the northerly right-of-way line of Virginialee Road (50 feet in width);
thence North 85° 58' 00" West, along said northerly right-of-way line of Virginialee Road, a distance of 320.00 feet to a point of curvature of a curve to the right;
thence along the arc of said curve (Delta = 90° 00' 00", Radius = 125.00 feet), a chord bearing and distance of North 40° 58' 00" West, 176.78 feet to a point of tangency in the easterly right-of-way line of Virginialee Road West (being 50 feet in width);
thence North 4° 02' 00" East, along said easterly right-of-way line of Virginialee Road West, a distance of 320.00 feet to the point of intersection of said right-of-way line with the southerly right-of-way line of Allegheny Avenue;
thence South 85° 58' 00" East, along said right-of-way line of Allegheny Avenue, a distance of 570.00 feet to the point of beginning, containing 5.669 acres, more or less.
Subject however, to all legal rights-of-ways and/or easements, if any, of previous record.
Bearings contained herein are based on the same meridian as the southerly right-of-way line of Allegheny Avenue (South 85° 58' 00" East), of record in Plat Book 23, Page 25.
4.388 ACRE TRACT
Situated in the State of Ohio, County of Franklin, City of Columbus, being located in Section 6, Township 12, Range 21, Refugee Lands and being part of those tracts of land conveyed to Calhoun Investment Co., by deed of record in Official Record 996H11, all references being to records in the Recorder's Office, Franklin County, Ohio and bounded and described as follows:
Beginning at the point of intersection of the northerly right-of-way line of Ruhl Avenue (50 feet in width), with the easterly right-of-way line of Chesterfield Road (as dedicated by plat of record in Plat Book 23, Page 25 and being 50 feet in width);
thence North 4° 02' 00" East, along said right-of-way line of Chesterfield Road, a distance of 130.00 feet to an angle point in said line;
thence along the southerly right-of-way line of Chesterfield Road, the following courses and distances:
South 85° 58' 00" East 74.31 feet to a point of curvature of a curve to the left;
North 74° 17' 00" East, 118.27 feet, a chord bearing and distance (Delta = 39° 30' 00", Radius = 175.00 feet), to a point of tangency;
North 54° 32' 00" East 116.73 feet to a point of curvature of a curve to the left;
North 45° 32' 00" East, 132.97 feet, a chord bearing and distance (Delta = 18° 00' 00", Radius = 425.00 feet), to a point of tangency; and
North 36° 32' 00" East, 144.28 feet to the intersection of the right-of-way line of Chesterfield Road with the southerly right-of-way line of Virginalee Road;
thence along the southerly and westerly right-of-way lines of Virginialee Road, the following courses and distances;
South 73° 49' 25" East, 73.63 feet, a chord bearing and distance of a curve to the left (Delta = 24° 17' 19", Radius = 175.00 feet), to a point of tangency;
South 85° 58' 00" East, 10.00 feet to a point of curvature of a curve to the right;
South 40° 58' 00" East, 176.78 feet, a chord bearing and distance (Delta = 90° 00' 00", Radius = 125.00 feet), to a point of tangency; and
South 4° 02' 00" West, 325.00 feet to the point of intersection of the westerly right-of-way line of Virginialee Road with the northerly right-of-way line of Ruhl Avenue;
thence North 85° 58' 00" West, along said right-of-way line of Ruhl Avenue, a distance of 648.31 feet to the point of beginning, containing 4.388 acres, more or less.
Subject however, to all legal rights-of-ways and/or easements, if any, of previous record.
Bearings contained herein are based on the same meridian as the southerly right-of-way line of Allegheny Avenue (South 85° 58' 00" East) of record in Plat Book 23, Page 25.
SECTION 2. The sum of $2,000,000.00 be and is hereby appropriated from the unappropriated balance of the Special Income Tax Fund, Fund 430, and from all monies estimated to come into said fund from any and all sources and unappropriated for any other purpose during the fiscal year ending December 31, 2010 to the City Auditor, Department 22-01, Object Level One 10, OCA Code 902023, Object Level Three 5502.
SECTION 3. That the City Auditor is hereby authorized to transfer said funds to the Northland and Other Acquisitions Fund 735, at such time as is deemed necessary by the City Auditor, and to expend said funds, or so much thereof as may be necessary.
SECTION 4. That the 2010 Capital Improvements Budget is hereby amended as follows:
CURRENT CIB:
Fund 735 / Dept-Div: 44-01 / Project No. 590415-100002 - Economic & Community Development-Woodland Meadows / Amount $2,000,0000
Fund 735 / Dept-Div: 44-01 / Project No. 441737-100000 - Taylor Homes Phase II / Amount $65,000 (Carryover)
REVISED CIB:
Fund 735 / Dept-Div: 44-01 / Project No. 590415-100002 - Economic & Community Development-Woodland Meadows / Amount $2,010,000
Fund 735 / Dept-Div: 44-01 / Project No. 441737-100000 - Taylor Homes Phase II / Amount $55,000 (Carryover)
SECTION 5. That the amount of $2,000,000.00 is hereby transferred and appropriated to the Development Department, 44-01, Fund 735 Northland and Other Acquisitions, Economic & Community Development-Woodland Meadows - 590415-100002, Object Level One 06, Object Level Three Code 6601, OCA 440735.
SECTION 6. That upon obtaining other funds for this project, the City Auditor is hereby authorized and directed to repay the Special Income Tax Fund the amount transferred under Section 3.
SECTION 7. That the City Auditor is authorized to establish proper accounting project numbers, and to make any accounting changes to revise the funding source for any contract or contract modification associated with the expenditure of funds transferred in Section 3, above.
SECTION 8. That the City intends that this ordinance constitute an "official intent" for purposes of Section 1.150-2(e) of the Treasury Regulations, and that the City reasonably expects to reimburse itself for certain Original Expenditures incurred with respect to the Project from the proceeds of obligations to be issued by the City in a principal amount currently estimated to be $2,000,000.00 (the "Obligations").
The City intends to make a reimbursement allocation on its books for the Original Expenditures not later than eighteen months following the later to occur of the date of the Original Expenditure to be reimbursed or the date the Project for which such Original Expenditures were made is "placed in service" within the meaning of the Treasury Regulations Section 1.150-2(c). Upon the issuance of the Obligations, the proceeds of such Obligations shall be used to reimburse the fund from which the advance for costs of the Project will be made.
SECTION 9. All funds necessary to carry out the purpose of this ordinance are hereby deemed appropriated.
SECTION 10. That the City Auditor is hereby authorized and directed to transfer funds within the Northland and Other Acquisitions Fund 735 as follows:
FROM:
Fund 735 / Dept-Div: 44-01 / Project No. 441737-100000 - Taylor Homes Phase II / Amount $10,000 (Carryover)
TO:
Fund 735 / Dept-Div: 44-01 / Project No. 590415-100002 - Economic & Community Development-Woodland Meadows / Amount $10,000
SECTION 11. That the expenditure of $2,010,000.00, or so much thereof as may be necessary in regard to the action authorized in Section 1, be and is hereby authorized and approved as follows: Development Department, Division 44-01, Northland and Other Acquisitions Fund 735, Project No. 590415-100002 Economic & Community Development-Woodland Meadows, OCA Code 754152, Object Level Three 6601.
SECTION 12. That the City Auditor is authorized to make any accounting changes to revise the funding source for all contract or contract modifications associated with this ordinance.
SECTION 13. 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 its passage if the Mayor neither approves nor vetoes the same.