Explanation
BACKGROUND: Five parcels currently held in the Land Bank have 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 properties. This legislation authorizes transfer of five parcels located at 1731 E Columbus St. (010-045649), 551 Siebert St. (010-012763), 245-247 Reeb Ave. (010-021472), 251 Reeb Ave, (010-056044) and 253-255 Reeb Ave, (010-006809) to Healthy Rental Homes VIII LLC, an Ohio business who will construct two family homes on the vacant parcels for an affordable rental project. The parcels will be transferred by deeds 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.
Title
To authorize the Director of the Department of Development to execute any and all necessary agreements and deeds for conveyance of title of five parcels of real property (1731 E Columbus St., 551 Siebert St., 245-247 Reeb Ave., 251 Reeb Ave., and 253-255 Reeb Ave.) held in the Land Bank pursuant to the Land Reutilization Program to Healthy Rental Homes VIII LLC.
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 to tax revenue generating status or its devotion to public use, or any other land acquired a...
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