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File #: 0065-2011    Version: 1
Type: Ordinance Status: Passed
File created: 1/10/2011 In control: Development Committee
On agenda: 1/31/2011 Final action: 2/2/2011
Title: To authorize the Director of the Department of Development to execute any and all necessary agreements and deeds for conveyance of title of one parcel of real property (1743 E. Columbus Street) held in the Land Bank pursuant to the Land Reutilization Program.
Explanation

BACKGROUND: One parcel 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 such real property. 1743 E. Columbus Street (010-056656) will be sold to Taft Woodford, who will renovate the single-family home as his residence. The property will be transferred by deed and 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 one parcel of real property (1743 E. Columbus Street) held in the Land Bank pursuant to the Land Reutilization Program.


Body


WHEREAS, the Land Redevelopment Office was authorized to purchase the parcel from the United States Department of Housing and Urban Development through the Good Neighbor Program and accepted into the Land Reutilization Program by Ordinance 0106-2008, passed January 28, 2008; and

WHEREAS, a proposal for the sale of one parcel which has been acquired pursuant to Section 5722.06 for this program meet the Land Reutilization Program's Disposition Policies and Guiding Principles and has been approved; and

WHEREAS, such parcel of real estate is being sold at not less than fair market value in conformity with Ohio Revised Code Section 5722.07, competitive bidding is not required; 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 ma...

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