Explanation
BACKGROUND: This ordinance accepts a 3.515 acre tract of land previously held by the Columbus Urban Growth Corporation into the City Land Bank and managed in accordance with the policies and procedures of the Land Reutilization Program. The Land Bank will maintain and market the property for future redevelopment. The parcel is located within the West Edge Business Center.
FISCAL IMPACT: No funding is required for this legislation. The maintenance of the parcel will be provided by contracts managed by the Land Redevelopment Office.
EMERGENCY JUSTIFICATION: Emergency action is requested to place the property into the Columbus Land Bank as soon as possible in order to facilitate the maintenance and redevelopment of the same.
Title
To authorize the acceptance of a 3.515 acre tract of land to be held in the Land Bank inventory and managed in accordance with the policies and procedures of the Land Reutilization Program; and to declare an emergency.
Body
WHEREAS, the acceptance of a 3.515 acre tract of land which have been acquired pursuant to Section 5722.06 for this program and meets the Land Reutilization Program's Policies and Guiding Principles; and
WHEREAS, Columbus Urban Growth transferred the parcel to City of Columbus, this ordinance will accept the parcels into the Land Reutilization Program; and
WHEREAS, the property will be held in the Land Bank Program and managed in accordance with the Land Reutilization Program's policies and procedures; and
WHEREAS, under 5722.07 "fair market value" means the appraised value of the nonproductive land made with reference to such redevelopment and reutilization restrictions as may be imposed by the electing subdivision as a condition of sale or as may be otherwise applicable to such land; and
Whereas, the matter herein constitutes an emergency in that it is immediately necessary to place the properties into the Columbus Land Bank in order to facilitate the maintenance...
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