Explanation
BACKGROUND: Council adopted Revised Code Chapter 5722 Land Reutilization Program by Ordinance 2161-93 to facilitate effective reutilization of nonproductive land within the City's boundaries to foster either the return of such land to tax revenue generating status or retention for public use. The Land Bank has recommended disposition of one parcel. In order to complete the transfer authorization is needed for the Director of Department of Development to execute any and all agreements and deeds for conveyance of such real property acquired through the program to the purchasers.
FISCAL IMPACT: From the sale proceeds, 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. The balance, if any will be paid to the County Treasurer for distribution of taxing districts.
Title
To authorize the Director of Department of Development to execute deeds and all other necessary agreements required for conveyance of title of one parcel of real property held in the Land Bank pursuant to the Land Reutilization Program.
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 foreclosure to foster either return of such land to tax revenue generating status or its devotion to public use; and
WHEREAS, a proposal for disposition of a parcel of real estate which meets the Land Reutilization Program Disposition Policy was and therefore approved for return to tax revenue generating status; and
WHEREAS, such this o...
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