Explanation
BACKGROUND: In order to have an effective Land Reutilization Program, it is necessary to acquire other vacant and underutilized properties. The property known as 269-71 Grubb Street (010-006097 & 010-006098) will be held in the City's Land Bank and managed in accordance with the policies and procedures of the Land Reutilization Program. The property will be transferred by deed, which will be recorded in the Official Records of the County Recorder's Office.
FISCAL IMPACT: No funding is required for this legislation. The maintenance of these parcels will be provided by universal contracts and/or bidding process.
EMERGENCY JUSTIFICATION: Emergency action is requested in order to expedite the sale of the property and to return these properties to tax generating, productive assets.
Title
To authorize the acceptance of a deed for one parcel of land (269-71 Grubb Street) to be held in the Land Bank inventory; and to declare an emergency.
Body
WHEREAS, Johnathan L. Northup, owner of the said real estate have agreed to donate this property to the City's Land Bank; and
WHEREAS, the acceptance of two parcels which has been acquired pursuant to Section 5722.06 for this program meets the Land Reutilization Program's Disposition Policies and Guiding Principles and has been approved; 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, by virtue of said deeds to the City of Columbus Land Bank these deeds will be recorded in the Franklin County, Ohio Recorder's Office; and
WHEREAS, the City desires to accept these deeds for said properties which will be held in the Land Bank Program and managed in accordance with the Land Reutilization Program's policies and procedures; and
...
Click here for full text