Explanation
Background: Authorization is needed for the Director of the Department of Development to execute any and all agreements and deeds for conveyance of thirteen parcels to Columbus Housing Partnership (CHP) or a subsidiary established to hold properties for the Duxberry Landing project. CHP will partner with the Greater Linden Development Corporation to develop 35 new single-family homes within the South Linden neighborhood. As a member of the Neighborhood Stabilization Program 2 (NSP 2) consortium, Columbus Housing Partnership will invest NSP funds from both the NSP 2 Consortium and the State of Ohio. The Land Bank properties were acquired under both the Land Reutilization Program (Tax Foreclosures) and under the NSP. The City will receive $6,965 for the properties initially acquired under the Land Reutilization Program. The properties will be transferred by deed and recorded in the Official Records of the County Recorder's Office.
Fiscal Impact: No funding is required for this legislation. 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.
Emergency Justification: Emergency action is requested to expedite the transfer of the property to allow the developer to meet Neighborhood Stabilization Program expenditure deadlines and close on funding commitments from private lenders and the State of Ohio.
Title
To authorize the Director of the Department of Development to execute any and all necessary agreements and deeds for conveyance of title of thirteen parcels of real property held in the Land Bank pursuant to the Land Reutilization Program and Neighborhood Stabilization Program to Columbus Housing Partnership or a subsidiary established to hold properties for the Duxberry Landing project; and to declare an emergenc...
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