Explanation
BACKGROUND: Five parcels currently held in the Land Bank has been approved for disposition. In order to complete the transfer, authorization is needed for the Director of the Department of Development to execute any and all agreements and deeds for conveyance of the real property. This legislation authorizes transfer of five parcels located at 0000 Avalon Pl., Lot 84. (010-038191), 0000 Avalon Pl. (010-063283), 2085 Avalon Pl. (010-043374), 2101 Avalon Pl. (010-042085) and 2212 Margaret Ave. (010-010141) to Mattco LLC, who will construct two family homes on the vacant parcels under a new pilot program (Moderately Price Housing Initiative). The parcels will be transferred by deed recorded in the Official Records of the Franklin County Recorder’s Office.
FISCAL IMPACT: The City may first recover reimbursement of any and all expenses incurred on account of the acquisition, administration, management, maintenance and disposition of such land and such other expenses of the program as the City may apportion to such land from the sale proceeds.
Title
To authorize the Director of the Department of Development to execute any and all necessary agreements and deeds for conveyance of title of five parcels of real property (0000 Avalon Pl., Lot 84, 0000 Avalon Pl., 2085 Avalon Pl., 2101 Avalon Pl. and 2212 Margaret Ave.) held in the Land Bank to Mattco LLC pursuant to the Land Reutilization Program.
Body
WHEREAS, by Ordinance 1325-98, Council adopted and elected to use the Revised Code Chapter 5722, Land Reutilization Program, to facilitate effective reutilization of nonproductive land acquired through a sale pursuant to a foreclosure proceeding initiated by the Franklin County Treasurer, or through a sale of forfeited lands by the Franklin County Auditor, or through a conveyance in lieu of foreclosure to foster either return of such land to tax revenue generating status or its devotion to public use, or any other land acquired as part of the land reutilization program; and
WHEREAS, a proposal for the sale of the property which was acquired pursuant to Ohio Revised Code Section 5722.03 or 5722.06 meets the Land Reutilization Program’s Disposition Policies and Guiding Principles and has been approved by the Land Redevelopment Office Administrator; and
WHEREAS, in conformity with Ohio Revised Code Section 5722.07, the property will be sold at not less than fair market value, defined as the appraised value of the nonproductive land made with reference to any redevelopment and reutilization restrictions as may be imposed by the electing subdivision as a condition of sale or as may otherwise be applicable to such; therefore, competitive bidding is not required; and
WHEREAS, in order to complete the transfer of such property to the purchaser, authority is needed for the Director of the Department of Development to execute any and all necessary agreements and deeds of conveyance for the real property; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. 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 parcels of real estate to Mattco LLC:
PARCEL NUMBER: 010-038191
ADDRESS: 0000 Avalon Pl., Lot 84, Columbus, Ohio 43219
PRICE: $5,778.00 plus a $195.00 processing fee
USE: Two Family New Build
PARCEL NUMBER: 010-063283
ADDRESS: 0000 Avalon Pl., Columbus, Ohio 43219
PRICE: $6,228.00 plus a $195.00 processing fee
USE: Two Family New Build
PARCEL NUMBER: 010-043374
ADDRESS: 2085 Avalon Pl., Columbus, Ohio 43219
PRICE: $7,769.00 plus a $195.00 processing fee
USE: Two Family New Build
PARCEL NUMBER: 010-042085
ADDRESS: 2101 Avalon Pl., Columbus, Ohio 43219
PRICE: $6,228.00 plus a $195.00 processing fee
USE: Two Family New Build
PARCEL NUMBER: 010-010141
ADDRESS: 2212 Margaret Ave., Columbus, Ohio 43219
PRICE: $7,025.00 plus a $195.00 processing fee
USE: Two Family New Build
SECTION 2. That 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 3. 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 4. That this ordinance shall take effect and be in force from and after the earliest period allowed by law.