Explanation
BACKGROUND: Eleven parcels currently held in the Land Bank has been 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 the real property. This legislation authorizes transfer of eleven parcels 0000 Alton Ave (010-009707); 0000 Alton Ave (010-020697); 785-87 Alton Ave.(010-072725); 803 Alton Ave. (010-010723); 924 Alton Ave.(010-066341); 927 Alton Ave. (010-016782); 2678 E 6th Ave. (010-062436); 2883 E 9th Ave. (010-028790); 0000 E 11th Ave. (010-045715); 2975 E 11th Ave. (010-028567) and 952 Rarig Ave. (010-029421), to Urban Alliance LLC, an Ohio Business, who will construct multi-family homes on the vacant parcels under a new pilot program (Moderately Priced Housing Initiative). The parcels will be transferred by deed recorded in the Official Records of the Franklin County Recorder’s Office.
FISCAL IMPACT: 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.
Title
To authorize the Director of the Department of Development to execute any and all necessary agreements and deeds for conveyance of title of eleven parcels of real property 0000 Alton Ave.; 0000 Alton Ave.; 785-87 Alton Ave; 803 Alton Ave.; 924 Alton Ave; 927 Alton Ave.; 2678 E 6th Ave.; 2883 E 9th Ave.; 0000 E 11th Ave.; 2975 E 11th Ave. and 952 Rarig Ave. held in the Land Bank pursuant to the Land Reutilization Program. ($0.00)
Body
WHEREAS, by Ordinance 1325-98, 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 Treas...
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