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. Five (5) properties currently held in the Land Bank have been approved for disposition. In order to complete the transfer authorization is needed for the Director of Department of Development to execute 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 deeds for conveyance of title of 5 parcels of real property held in the Land Bank pursuant to the 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, 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, one proposal for the sale of 5 parcels which have been acquired for this program meet the Land Reutilization Program's Disposition Policies and Guiding Principles and have been approved; and
WHEREAS, such these 5 parcels of real estate 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/properties to the purchasers, 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 Department of Development is hereby authorized and directed to execute deeds to convey title of the following parcels of real estate to qualified purchasers yet to be selected:
Parcel: 010-033496 Parcel: 010-051611
Address: 1005-1007 E. Main St. Address: 1037-1039 E. Main St.
Price: $4,000.00 Price: $4,000.00
Use: rehab for commercial Use: rehab for commercial
development development
Parcel: 010-047574 Parcel: 010-059722
Address: 1009-1011 E. Main St. Address: 2445-2457Cleveland Ave.
Price: $5,200.00 Price: $14,175.00
Use: commercial Use: commercial/residential
development
Parcel: 010-115342
Address: 1032 Rumsey Road
Price: $6,020.00
Use: rehab for residential
Section 2. That this ordinance shall take effect and be in force from and after the earliest period allowed by law.