Explanation
Background: Six properties currently held in the Land Bank are 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 such real property. 2080 Berrell Ave. (010-109029), 2826 Berrell Ave. (190-004860), 2119 Danby Dr. (010-109171), 1718 Cordell Ave. (010-098950), 2025 Aberdeen Ave. (010-009450), and 2814 Fern Ave. (010-132085) will be transferred to Mid-Ohio Regional Planning Commission ("MORPC"). MORPC will redevelop these existing single-family dwellings for homeownership in the Linden Neighborhood with funds from the Neighborhood Stabilization Program 2. The properties will be transferred by deeds and recorded in the Official Records of the County Recorder's Office.
Emergency Justification: Emergency action is requested to expedite the transfer of the property to allow the developer to immediately start construction to meet program deadlines.
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.
Title
To authorize the Director of the Department of Development to execute any and all necessary agreements and deeds for conveyance of title of six parcels of real property held in the Land Bank pursuant to the Land Reutilization Program and Neighborhood Stabilization Program to US Bank, NA, Successor Trustee of the Hope 3 Trust Agreement for the Benefit of the Mid-Ohio Regional Planning Commission; and to declare an emergency.
Body
WHEREAS, ordinance 1860-2008 adopted the City's Neighborhood Stabilization Program, authorized the filing of the City's Neighborhood Stabilization Program application with the United Sta...
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