Explanation
BACKGROUND: The City’s Land Bank program seeks to acquire a parcel located near its current holdings on Joyce Ave to consolidate into larger tract of land for an affordable housing project. The acquisition will support its ongoing efforts to make property available for affordable housing partners to develop Low Income Housing Tax Credit (LIHTC) units, Land Trusts, or other affordable housing. This legislation will authorize the Director of the Department of Development to execute any and all documents that are necessary to acquire property, as approved by the City Attorney’s Office, and spend an amount not to exceed $62,000.00. Expenditures will include purchasing the real property, costs associated with conducting the City’s due diligence, title review and professional services.
FISCAL IMPACT: Funding is available within Fund 7739 (Development Taxable Bonds), P440104-100024 (Strategic Acquisition Fund).
EMERGENCY JUSTIFICATION: Emergency action is requested to implement the acquisition plan and begin the purchase of properties as soon as possible. Also, the City has entered into a contract, approved by the City Attorney’s Office, which has date specific requirements to perform due diligence activities within the contract period. If the City is not able to meet those obligations, the contract would be voided.
Title
To authorize the Director of the Department of Development, or his designee, to acquire three properties for the City’s Land Reutilization Program; to execute any and all documents, as approved by the City Attorney, necessary for conveyance of title and related services; to authorize an expenditure not to exceed $62,000.00 from the Development Taxable Bonds Fund; and to declare an emergency. ($62,000.00)
Body
WHEREAS, in Ordinance 1325-98, City Council adopted and elected to use the Ohio Revised Code Chapter 5722, Land Reutilization Program, to facilitate effective reutilization of nonproductive land in the City 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, or other properties the City acquires for the land reutilization program, to foster either return of such land to tax revenue generating status or its devotion to public use as provided in R.C. 5722.06; and
WHEREAS, through its Land Reutilization Program, the Department of Development (“Department”) desires to acquire certain parcels to consolidate them into larger tracts for affordable housing purposes; and
WHEREAS, the Department seeks authorization to spend an amount not to exceed $62,000.00 to purchase real property and pay other related expenditures, such as costs associated with conducting due diligence, title review, and professional services; and
WHEREAS, it is necessary to authorize the Director of Development, or his designee, to execute any and all necessary documents for the conveyance of title to the City, through the Land Reutilization Program, in order to acquire properties; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that it is immediately necessary to implement the acquisition plan and begin the purchase of properties as soon as possible because the City has entered into a contract, approved by the City Attorney’s Office, which has date specific requirements to perform due diligence activities within the contract period to avoid the contract being voided if the City is not able to meet those obligations, all for the immediate preservation of the public health, peace, property, safety and welfare; and NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That City Council finds and determines that the City’s Director of Development is authorized to acquire vacant, abandoned parcels of real property, and use those parcels for affordable housing purposes as authorized by the R.C. Chapter 5722, which the City adopted in Ordinance 1325-98. Consistent therewith, the Director is authorized to purchase the real estate parcels identified in Section 3 below, which parcels are adjacent to City-owned parcels, and to use those parcels for future affordable housing purposes.
SECTION 2. The Director of the Department of Development, or his designee, is authorized to execute any and all documents, as approved by the City Attorney, necessary in order to convey title to the City and acquire the following real properties as part of the Land Reutilization Program in the amounts stated below, plus closing costs:
Parcel Address Sale Price
010-069660 2866 Joyce Ave. $57,000.00
SECTION 3. The Director of the Department of Development is authorized to contract for professional services to perform due diligence activities associated with the acquisition and redevelopment of the above parcels, including title work, surveys, appraisals, environmental reports, engineering and design services, and other professional services as needed.
SECTION 4. That for the purpose as stated above, an expenditure in an amount not to exceed $62,000.00, is authorized in fund 7739 (Development Taxable Bonds), Project P440104-100024, Dept. 44-02 (Economic Development), in Object Class 06 (Capital Outlay) per the accounting codes in the attachment to this Ordinance.
SECTION 5. That the City Auditor is authorized to make any accounting changes to revise the funding source for any contract or contract modification associated with this Ordinance.
SECTION 6. That the funds necessary to carry out the purpose of this Ordinance are deemed appropriated, and the City Auditor shall establish such accounting codes as necessary.
SECTION 7. That the City Auditor is authorized to transfer the unencumbered balance in a project account to the unallocated balance account within the same fund upon receipt of certification by the Director of the Department administering said project that the project has been completed and monies are no longer required for said project.
SECTION 8. 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 approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.