Explanation
BACKGROUND: One property 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 such real property. This parcel located at 526 East 2nd Avenue (Rear) will
be purchased by Matt V. Glaser for a side yard.
FISCAL IMPACT: No funding is required for this legislation. 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 one parcel of real property held in the Land Bank pursuant to the Land Reutilization Program. (526 East 2nd Avenue (Rear))
Body
WHEREAS, by Ordinance 2161-93 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; and
WHEREAS, a proposal for the sale of one parcel which has been acquired for this program meet the Land Reutilization Program's Disposition Policies and Guiding Principles and has been approved; and
WHEREAS, such this one parcel of real estate is being sold at not less than fair market value in conformity with Ohio Revised Code Section 5722.07; 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 such 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 and directed to execute any and all necessary agreements and deeds to convey title of the following parcels of real estate:
PARCEL NUMBER: 010-093795
Being forty (40) feet off the north side of Lot Number Eighty-four (84) of the Terrace View Addition, as the same is numbered and delineated upon the recorded plat thereof, of record in Plat Book No. 4, page 250, Recorder's Office, and Franklin County, Ohio.
ADDRESS: 526 East 2nd Avenue (Rear)
PRICE: $1.00
USE: Side Yard
Section 2. That this ordinance shall take effect and be in force from and after the earliest period allowed by law.