Explanation
BACKGROUND: One property 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. The vacant parcel, 176 N. 21st Street (010-001824), will be sold to Columbus Housing Partnership (CHP) to develop a single-family house. CHP will build the house as a part of the North of Broad project and will sell the completed structure to a homeowner. The property will be transferred by deed 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 enter into a purchase contract with a homeowner before the start of construction and to permit the completion of construction before the end of 2009.
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 vacant parcel of real property (176 N. 21st Street) 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...
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