Explanation
Background: This Council passed Ordinance 663-81 on March 12, 1981 authorizing the Mayor to enter into a Development Agreement to support the expansion of the Anthony Thomas Candy Company, Inc. and to execute any necessary deeds for the conveyance of real property as called for under the terms of the Development Agreement.
The expansion, located at 1160 West Broad Street, involved the construction of 13,000 square feet of new space. In order to facilitate this expansion, the City executed a quit claim deed to convey certain pieces of real property. The quit claim deed contained reverter rights to the City in the event that the Anthony Thomas Candy Company, Inc. failed to comply with the terms of the agreement.
The purpose of this legislation is to authorize the Director of the Department of Development to execute a Certificate of Completion determining that the Anthony Thomas Candy Company, Inc. has satisfied all obligations of the Development Agreement and thereby releasing any reverter rights of the City.
Fiscal Impact: No funding is necessary for this legislation.
Title
To authorize the Director of the Department of Development to execute a Certificate of Completion determining that the Anthony Thomas Candy Company, Inc. has satisfied all obligations of the Development Agreement thereby releasing any reverter rights of the City; and to declare an emergency.
Body
WHEREAS, the City, by Ordinance 663-81 on March 12, 1981 authorized the Mayor to enter into a Development Agreement to support the expansion of the Anthony Thomas Candy Company, Inc. and to execute any necessary deeds for the conveyance of real property as called for under the terms of the Development Agreement ; and
WHEREAS, on the 29th day of June, 1982, the City of Columbus, Ohio, a municipal corporation, pursuant to the authority of Ordinance 663-81, passed March 12, 1981, did execute and deliver unto Anthony Thomas Candy Company, Inc. its quit claim ...
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