Explanation
BACKGROUND: Ten properties currently held in the Land Bank have 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 properties. These parcels will be
purchased by Tony Reynolds of RPM Ventures, LLC for new construction of single-family homes.
Emergency action is requested to prevent a delay in the construction schedule. Mr. Reynolds will be in jeopardy
of losing his contracts with the builders if the schedule is not meet.
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 ten parcels of real property held in the Land Bank pursuant to the Land Reutilization Program; and to declare an emergency.
Body
WHEREAS, by Ordinance 2161-93 Council adopted and elected to use the Revised Code Chapter 5722, Land Reutilization Program, to facilitate effective reutilization of nonproductive land acquired through a sale pursuant to a foreclosure proceeding initiated by the Franklin County Treasurer or through a sale of forfeited lands by the Franklin County Auditor or through a conveyance in lieu of foreclosure to foster either return of such land to tax revenue generating status or its devotion to public use; and
WHEREAS, a proposal for the sale of ten parcels which have been acquired for this program meet the Land Reutilization Program's Disposition Policies and Guiding Principles and have been approved; and
WHEREAS, such these ten parcels of real estate being sold at not less t...
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