Explanation
BACKGROUND: Three properties currently held in the Land Bank have 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 such real property. Two single-family homes, 2892 Grasmere Ave. (010-083719) and 793 S. Burgess Ave. (010-087299) will be sold to buyers who intend to renovate and occupy the structures. 2157 Cleveland Ave. (010-060678) is a small, undeveloped parcel zoned for commercial uses that will be sold as a side-yard to the adjacent law office. The properties 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 property and such other expenses of the program as the City may apportion to such property from the sale proceeds.
EMERGENCY JUSTIFICATION: Emergency action for these properties is requested in order to expedite the transfer to start the rehabilitation of the properties.
Title
To authorize the Director of the Department of Development to execute any and all necessary agreements and deeds for conveyance of title of three parcels of real property 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 to tax revenue...
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