Explanation
BACKGROUND: Two parcels 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 the real property. This legislation authorizes transfer of two parcels located at 2394 Linden Ave. (010-061144) and 2411-24133 Linden Ave. (010-061087) to Columbus Holding Group LLC, an Ohio limited liability company and subsidiary of Columbus Next Generation Corporation (CNGC). CNGC has acquired parcels that surround these two parcels for a mixed use, affordable housing development. The parcel will be transferred by deed recorded in the Official Records of the Franklin County Recorder’s Office.
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.
EMERGENCY JUSTIFICATION: Emergency action is requested to expedite the transfer in order to reduce Land Bank maintenance costs.
Title
To authorize the Director of the Department of Development to execute any and all necessary agreements and deeds for conveyance of title of two parcels of real property, 2394 Linden Ave. (010-061144) and 2411-24133 Linden Ave. (010-061087), held in the Land Bank pursuant to the Land Reutilization Program; and to declare an emergency.
Body
WHEREAS, by Ordinance 1325-98, 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...
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