Explanation
BACKGROUND: One parcel 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. 2082 Rochelle Place, Columbus, Ohio 43232 (010-137234) will be sold to Antranik Baghasarian and Andy Magdesian who will rehabilitate the property for use as Mr. Baghasarian's residence. The property will be transferred by deed and recorded in the Official Records of the Franklin 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 for this property is requested in order to expedite the transfer so the buyer can begin the renovation of the house.
Title
To authorize the Director of the Department of Development to execute any and all necessary agreements and deeds for conveyance of title of a parcel of real property (2082 Rochelle Place) held in the Land Bank pursuant to the Land Reutilization Program; and to declare an emergency.
Body
WHEREAS, the Land Redevelopment Office was authorized to purchase the parcel from the United States Department of Housing and Urban Development through the Good Neighbor Program and accepted into the Land Reutilization Program by Ordinance 0106-2008, passed January 28, 2008; and
WHEREAS, a proposal for the sale of one parcel which has been acquired pursuant to Section 5722.06 for this program meet the Land Reutilization Program's Disposition Policies and Guiding Principles and has been approved; and
WHEREAS, the property will be sold at not less than fair market value i...
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