Explanation
BACKGROUND: This ordinance repeals Ordinance No. 1241-2010 and authorizes the Director of Finance and Management to execute those documents necessary to enter into a contract for the sale of that City-owned property commonly known as 2682 Cleveland Avenue, Columbus, Ohio 43211 to Hope Christian Ministries, 4523 Berthstone Drive, Columbus, Ohio 43231 for a purchase price of $72,500.00 and to execute a quitclaim deed and any ancillary documents necessary to grant fee simple title to said property.
Ordinance No.1241-2010, passed October 6, 2010, authorized the Director of Finance and Management to execute those documents necessary to enter into a contract for the sale of 2682 Cleveland Avenue, Columbus, Ohio 43211 to the Jeffrey Dean Foundation. The Jeffrey Dean Foundation failed to perform per the terms and conditions of its Real Estate Purchase Contract with the City. Accordingly, that contract is no longer valid thus necessitating the repeal of the earlier ordinance authorizing that sale and now authorizing the Finance and Management Director to enter into a contract for the sale of the same property to Hope Christian Ministries, 4523 Berthstone Drive, Columbus, Ohio 43231.
Fiscal Impact: Proceeds from this transaction shall be deposited in Fund 748, the General Permanent Improvement Fund.
Emergency Justification: Emergency action is requested to enable the City to immediately enter into contract and schedule a closing date, prior to year-end 2010, in order to allow the City to eliminate the cost associated with maintenance of this property and receive income of $72,500.00 from the proceeds of the sale.
Title
To authorize the Director of Finance and Management to execute those documents necessary to enter into contract for the sale of City-owned surplus property known as 2682 Cleveland Avenue, Columbus, Ohio 43211 to Hope Christian Ministries and to execute those documents necessary to grant fee simple title; to repeal Ord...
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