Explanation
BACKGROUND: Council adopted Revised Code Chapter 5722 Land Reutilization Program by Ordinance 2161-93 to facilitate effective reutilization of nonproductive land within the City's boundaries to foster either the return of such land to tax revenue generating status or retention for public use. The Land Bank has recommended disposition of one parcel for side yard use. In order to complete the transfer authorization it is needed for the Director of the Department of Development to execute any and all agreements and deeds for conveyance of such real property.
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 one parcel of real property acquired through the Ohio Revised Code Chapter 5722 Land Reutilization Program.
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, 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 of real estate has been approved for sale as it met the Land Reutilization Program's Disposition Policies and Guiding Principles and has been approved; and
WHEREAS, this one parcel of real estate is being sold at no 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 parcel of real estate to qualified purchasers yet to be selected:
Tax Parcel # Address Use Consideration
010-047918 1200 Fair Avenue Side Yard $500.00
Section 2. That this ordinance shall take effect and be in force from and after the earliest period allowed by law.