Explanation
Background: This ordinance authorizes the Director of Finance and Management to sell a city-owned property located at 2215 McKinley Avenue, Columbus, Ohio, containing approximately .22 acres and identified as Franklin County Auditor Tax Parcel 010-146249. This site previously housed a pump station used by Department of Public Utilities, Division of Water. The pump station was no longer needed and has been demolished. There is no further need for the land to support city operations and is considered surplus. The Department of Finance and Management, Real Estate Management Office, marketed this surplus property through a commercial real estate sale listing of the property and received a purchase offer that has been negotiated with terms favorable to the City.
This legislation authorizes the Director of Finance and Management to enter into a Real Estate Purchase and Sale Contract by and between the City and Edison Holdings, LLC and to execute those documents necessary to grant fee simple title to the City’s real property situated at 2215 McKinley Avenue, Columbus, Ohio and identified as Franklin County Auditor Tax Parcel 010-146249 for a sales price of Twenty Two Thousand Dollars ($22,000.00). The Buyer is the owner of the business and adjacent parcel to the north and intends to expand its parking lot that is underserving its business operation.
Fiscal Impact: The City will receive income in the amount of $22,000.00 from the proceeds of the sale to be deposited into Fund 6000, the Water Operating Fund.
Emergency Justification: Emergency action is requested to allow for the immediate execution of the agreement by the City so that the sale can proceed without delay in agreement with the closing transaction deadlines and other terms of the purchase and sale contract.
Title
To authorize the Director of Finance and Management to execute those documents necessary to enter into a Real Estate Purchase and Sale Contract with Edison Holdings, LLC for the ...
Click here for full text