Explanation
Background: Three properties currently held in the Land Bank are 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. Three vacant lots, 1265 N. 6th St (010-024591), 0 N. 6th St (010-024592), and 1438-1440 N. 5th St (010-047302), will be sold to Weinland Park Homes, LLC to develop new single-family homes. The houses will be a part of a 40-unit, scattered site single family, rent to own project developed by Weinland Park Homes, LLC in Weinland Park. The properties will be transferred by deeds and recorded in the Official Records of the County Recorder's Office.
Fiscal Impact: No funding is required for this legislation. 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.
Emergency Justification: Emergency action is requested to expedite the transfer of the property to allow the developer to close on funding commitments from private lenders and the State of Ohio.
Title
To authorize the Director of the Department of Development to execute any and all necessary agreements and deeds for conveyance of title of three parcels of real property held in the Land Bank to Weinland Park Homes, LLC, 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 ...
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