Explanation
BACKGROUND: In order to have an effective Land Reutilization Program it is necessary from time to time to acquire other vacant and underutilized properties. These properties are held in the City's Land Bank and managed in accordance with the policies and procedures of the Land Reutilization Program. These parcels are acquired by virtue of deeds, which will be recorded in the Official Records of the County Recorder's Office. Ordinance #0717-03 authorized the acceptance of five properties into the City's Land Bank. These properties were acquired by the Columbus Compact Corporation and through an agreement the City agreed to hold and manage these properties until such there was an identified redevelopment project and at that time the City would deed the properties back to the Columbus Compact Corporation.
FISCAL IMPACT: No funding is required for this legislation.
Title
To authorize the Director of Development to execute any and all necessary agreements and deeds for conveyance of title to parcels of real estate identified as 986 E. Main Street and 992 E. Main Street to Columbus Compact Corporation.
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; and
WHEREAS, these properties were to be held and managed in the City's Land Bank from their acceptance until a redevelopment plan was identified and accepted; and
WHEREAS, in order to complete the transfer of such properties to the Columbus Compact Corporation, authority is needed for the Director of Development to execute any and all agreements and deeds of conveyance for such real property; now, therefore,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. The Director of the Department of Development is hereby authorized and directed to execute any and all necessary agreements and deeds to convey title to parcels of real estate to the Columbus Compact Corporation as follows:
PARCEL NUMBER ADDRESS
010-038104 986 E Main Street
010-045403 992 E Main Street
Section 2. That this ordinance shall take effect and be in force from and after the earliest period allowed by law.