Explanation
BACKGROUND: Five parcels 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 the real property. This legislation authorizes transfer of five parcels 0000 Greenway Ave. (010-050798), 1598 Greenway Ave. (010-050855), 1602 Greenway Ave. (010-024796), 1610 Greenway Ave. (010-023950) and 1614 Greenway Ave. (010-042883) to Blueprint Development Company, LLC, who will construct an 18 unit multifamily project on the vacant parcels under a new pilot program (Moderately Priced Housing Initiative). The company is owned by a graduate of the Affordable Housing Trust’s Emerging Developers Accelerator Program. The parcels will be transferred by deed recorded in the Official Records of the Franklin County Recorder’s Office.
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 five parcels of real property (0000 Greenway Ave., 1598 Greenway Ave., 1602 Greenway Ave., 1610 Greenway Ave. and 1614 Greenway Ave.) held in the Land Bank pursuant to the Land Reutilization Program.
Body
WHEREAS, by Ordinance 1325-98, 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 r...
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