Explanation
BACKGROUND: Ordinance 1274-2023 authorized the Director of the Department of Development to transfer the Land Bank structure located at 536 Walnut St. (010-010628) to Columbus Landmarks Foundation. The City Land Bank program and Columbus Landmarks have partnered to stabilize the house and issue a joint Request for Proposals (RFP) to find a buyer who will renovate the structure in a historically appropriate manner. This Ordinance will repeal and replace 1274-2023, to change the buyer from Columbus Landmarks to Walnut Street Franklinton Partners, LLC, the winner of the RFP. The buyer will combine the structure with adjacent properties as a part of an adaptive reuse of three single-family homes for mixture of uses, including an art gallery, artist housing, and other commercial uses. Parties agreed to have the property transfer directly from the City to the buyer to allow the City to place standard land bank redevelopment restrictions on the transfer. A separate agreement between Columbus Landmarks and the buyer will place a historic easement on the site to ensure the structure is preserved in a historically appropriate manner.
FISCAL IMPACT: No additional funding is necessary.
Title
To repeal and replace Ordinance 1274-2023, passed by Columbus City Council on May 22, 2023; to authorize the Director of Development to execute any and all necessary agreements and deeds for conveyance of title of one parcel of real property (536 Walnut St.) held pursuant to the Land Reutilization Program.
Body
WHEREAS, on May 22, 2023, Columbus City Council passed Ordinance 1274-2023 authorizing the Director of the Department of Development to transfer the parcel located at 536 Walnut St. (010-010628) to Columbus Landmarks Foundation, for the sum of $50,000.00 plus a $195.00 processing fee.
WHEREAS, both Columbus Landmarks Foundation and the Department of Development seek to repeal and replace Ordinance 1274-2023 to change the buyer from the Columbus Landmarks Foundation to Walnut Street Franklinton Partners LLC; and
WHEREAS, the new buyer was selected from a joint Request for Proposals issued by the City and Columbus Landmarks Foundation; and
WHEREAS, the new buyer and Columbus Landmarks will enter into a separate agreement to record a preservation easement on the property to ensure the structure is preserved and will require the approval from Columbus Landmarks on any future renovation plan; and
WHEREAS, in order to complete the transfer of such property to the purchaser, it is necessary to repeal and replace Ordinance 1274-2023 to change the name of the buyer from Columbus Landmarks Foundation to Walnut Street Franklinton Partners, LLC; and now therefore,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That Ordinance 1274-2023 is hereby repealed and replaced by this ordinance
SECTION 2. That the Director of the Department of Development is hereby authorized to execute any and all necessary agreements and deeds to convey title to the following parcel of real estate to Walnut Street Franklinton Partners, LLC:
PARCEL NUMBER: 010-010628
ADDRESS: 536 Walnut St., Columbus, Ohio 43215
PRICE: $50,000.00, plus a $195.00 processing fee
USE: Multi-use renovation
SECTION 3. For the property stated in Section 1, that the Director of Development is hereby authorized to execute any agreement, deed restriction, or mortgage to ensure compliance with land bank program rules and the submitted application and to release such restriction or mortgage upon compliance.
SECTION 4. That Council hereby finds that the selection process utilized in this matter is in accordance with the Land Bank Disposition Process created pursuant to the City’s Land Reutilization Program and hereby approves the same.
SECTION 5. That this ordinance shall take effect and be in force from and after the earliest period allowed by law.