Explanation
BACKGROUND: Four 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 property. This legislation authorizes the transfer of four parcels located at 1399 E. Maynard Avenue (010-060715); 1434 Maynard Avenue (010-060739); 1413 E. Blake Avenue (010-061028); and 1464 E. Blake Avenue (010-060699) to the Greater Linden Development Corporation, who will rehabilitate and redevelop the four properties as part of their Linden Village project. The project is funded under the Neighborhood Stabilization Program 3. The parcels will be transferred by deed 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 is requested to expedite the transfer to reduce further deterioration of the structures and to immediately commence rehabilitation.
Title
To authorize the Director of the Department of Development to execute any and all necessary agreements and deeds for conveyance of title of four parcels of real property (1399 E. Maynard Avenue; 1434 Maynard Avenue; 1413 E. Blake Avenue; and 1464 E. Blake Avenue) held in the Land Bank pursuant to the Land Reutilization Program and Neighborhood Stabilization Program; and to declare an emergency.
Body
WHEREAS, ordinance 1860-2008 adopted the City's Neighborhood Stabilization Program, authorized the filing of the Neighborhood Stabilization Program application with HUD, and made a substantial amendment to the Consolidated...
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