Explanation
[Background: The City of Columbus, Recreation and Parks Department desires to enter into a purchase contract for certain real property, more fully described in the body of this legislation, located on the west bank of Alum Creek south of Morse Road. The contract will be between the City and The Swepston Trust, for certain real property necessary to the construction of the Alum Creek Bike Trail in connection with the Recreation and Parks Land Acquisition Project. The acquisition amount of the property is $117,100.00. With closing costs added to the aforementioned parcel price, the total appropriation amount is $122,100.00. Under the terms of the proposed contractual agreement the Reaction and Parks Department will initially acquire a bike path easement in the amount of $12,000.00, which will be deducted from the acquisition amount. Under the same contract, the Swepston Trust will retain the right, for a 24-month period, to require the City to purchase fee simple title to a 5.486 acres tract that includes the easement area and certain property lying in the flood plain east of Alum Creek to be used as a conservation area. The following legislation authorizes the Director of the Recreation and Parks Department to execute those documents necessary enter into a contract by and between the City of Columbus and The Swepston Trust for the aforementioned real property, and to expend $122,100.00 for cost relevant to its acquisition. Fiscal Impact: The Recreation and Parks Department has determined that the expenditure for this purchase will come from the Recreation and Parks 1995/1999 Voted Bond Fund.Emergency Justification: Emergency action is requested to allow this acquisition to proceed in agreement with the closing transaction deadline and other terms and conditions of the purchase contract.]
Title
To authorize the Director of the Recreation and Parks Department to enter into a purchase contract between the City and The Swepston T...
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