Explanation
BACKGROUND: Authorization is needed for the Director of the Department of Development to enter into an option agreement to sell and transfer 1267-1271 Mt. Vernon Avenue (010-029517) to Columbus Metropolitan Housing Authority in exchange for the payment of $9,600.00. The sale is contingent on the approval of a 2013 Choice Neighborhoods Initiative- Implementation Grant. This legislation authorizes the Director of Development to enter into the necessary option agreement or agreements as needed to sell and transfer of the property to Columbus Metropolitan Housing Authority.
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 enable the City to immediately enter into the necessary agreements allowing the buyer to meet the application deadlines established by the United States Department of Housing and Urban Development, which is required to complete the development of the property.
Title
To authorize the Director of the Department of Development to enter into an option agreement or agreements as needed to sell and transfer by quitclaim deed 1267-1271 Mt. Vernon Avenue (010-029517) to Columbus Metropolitan Housing Authority in exchange for the payment of $9,600.00. ; 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 ...
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