Explanation
Background: This legislation authorizes the Finance and Management Director to execute those documents necessary to purchase real property, on behalf of the Department of Public Utilities, from Dublin 745 LLC, an Ohio limited liability company, 8415 Dublin Road LLC, an Ohio limited liability company, and Timber Lake - Liberty LLC, on behalf of the Department of Public Utilities, consisting of approximately 159 +/- acres located on Dublin Road in Delaware County and identified as Delaware County Tax Parcels ? 600-240-03-017-000, 600-240-03-018-000, 600-240-03-019-000 and 600-311-01-001-000 and authorizes the expenditure of funds in an amount up to Six Million One Hundred Thousand and 00/100 Dollars ($6,100,000.00) for payment of all costs associated with the acquisition of the real property. The property was a former quarry and contains two reservoir areas. Purchase of this property will provide the Department of Public Utilities, Division of Water, a site adjacent to its site acquired for the City’s fourth water plant and will serve as a potential reservoir for the disposal of water treatment residuals that will be produced as a byproduct of the water treatment process thereby reducing residual disposal costs.
Fiscal Impact: Funding of $6,100,000.00 is budgeted and available within the Water G.O. Bonds Fund to pay costs associated with the acquisition.
Emergency Justification: Emergency action is requested to allow for the immediate execution of the purchase agreement by the City so that the acquisition can proceed without delay in agreement with the closing transaction deadlines and other terms of the purchase agreement in order to secure the real property.
Title
To authorize the Director of Finance and Management to execute those documents necessary to acquire fee simple title and lesser interests to real property identified as Delaware County Tax Parcels ? 600-240-03-017-000, 600-240-03-018-000, 600-240-03-019-000 and 600-311-01-001-000 ...
Click here for full text