Explanation
Background: A property currently held in the Land Bank is 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. One vacant parcel, 1345-1347 N. 5th St. (010-025366) will be sold to Habitat for Humanity - Greater Columbus to develop one new single-family house. Habitat for Humanity will invest funds from the second Neighborhood Stabilization Program and will sell the completed structure to a homeowner. The property will be transferred by deed and recorded in the Official Records of the 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 of the property to allow the developer enter into a purchase contract with identified homeowners and immediately start construction.
Title
To authorize the Director of the Department of Development to execute any and all necessary agreements and deeds for conveyance of title of one parcel of real property (1345-1347 N. 5th St.) held in the Land Bank pursuant to the Land Reutilization Program; and to declare an emergency.
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 t...
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