Explanation
BACKGROUND: The City of Columbus, Department of Development desires to purchase property for the Taylor Homes Project. These properties are being purchased for redevelopment purposes. The following legislation authorizes the Director of the Department of Development to execute any and all documents necessary to acquire the aforementioned real property and to appropriate, transfer and expend $300,000.00 for the cost relevant to this acquisition. These properties will be deeded to Columbus Urban Growth Corporation as needed for their redevelopment project.
FISCAL IMPACT: The $300,000.00 will come from the Special Income Tax Fund. This legislation authorizes the transfer and the expenditure of funds. Columbus Urban Growth Corporation will manage and maintain these properties until redevelopment.
EMERGENCY JUSTIFICATION: Emergency action is requested in order to allow the purchase of the real property without delay and in order to meet the closing date.
Title
To authorize the Director of the Department of Development to enter into and execute those documents necessary to purchase real property for the Taylor Avenue Homes Project; to authorize the appropriation and transfer of $300,000.00 from the Special Income Tax Fund to the Northland and Other Acquisition Fund; to authorize the expenditure of $300,000.00; and to declare an emergency. ($300,000.00)
Body
WHEREAS, the City of Columbus, Department of Development desires to purchase real property for the Taylor Avenue Homes Project; and
WHEREAS, the real property being purchased is for redevelopment within the Taylor Avenue Homes Project area; and
WHEREAS, it is necessary to appropriate and transfer $300,000.00 from the Special Income Tax Fund to the Northland and other Acquisition Fund and to expend same; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development, in that it is necessary to execute thos...
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