Explanation
BACKGROUND: Council adopted Revised Code Chapter 5722 Land Reutilization Program by Ordinance 2161-93 to facilitate effective reutilization of nonproductive land within the City's boundaries to foster either the return of such land to tax revenue generating status or retention for public use. Three (3) 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 Department of Development to execute any and all agreements and deeds for conveyance of such real property. Emergency action is requested so these properties may to be sold in order to meet their construction schedule.
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 9 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, 5 proposals for the sale of 9 parcels which have been acquired for this program meet the Land Reutilization Program's Disposition Policies and Guiding Principles a...
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