Explanation
Background: The City of Columbus, Recreation and Parks Department ("City") desires to purchase certain real properties located in the vicinity of Olentangy Street and Indianola Avenue to be used as City parkland. Walker Family Limited Partnership, (hereinafter called "OWNER"), an Ohio limited partnership, desires to sell the properties to the City. This purchase is in connection with the Glen Echo Ravine project. After investigation, the Department of Recreation and Parks has determined that the purchase of the desired real properties would be in the best interest of the City of Columbus and should be allowed. The following legislation authorizes the Director of the Recreation and Parks Department to execute those documents necessary to enter into a contract by and between the City and Walker Family Limited Partnership for the purchase of the real properties, and to expend $75,000.00 for cost relevant to its acquisition.
Fiscal Impact: The Recreation and Parks Department has determined that the funding necessary for this purchase will come from the Greenways Project Voted 1999/2004 Bond Fund to meet the financial obligation of this project
Emergency Justification: An emergency exists in the usual daily operation of the Recreation and Parks Department in that it is immediately necessary to appropriate and transfer $25,000.00 within the Recreation and Parks Permanent Improvement Fund to allow this acquisition to proceed in agreement with the closing transaction deadline and other terms and conditions of the purchase contract.
Title
To authorize the Director of the Recreation and Parks Department to execute those documents necessary to enter into a purchase contract with Walker Family Limited Partnership, an Ohio limited partnership, for the purchase of certain real property located in the vicinity of Olentangy Street and Indianola Avenue, for parkland use in connection with the Glen Echo Ravine Project; to expend $75,000.00 ...
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