Explanation
BACKGROUND: Seven parcels 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 the real property. This legislation authorizes the Director of Development to transfer seven parcels located at 221 S. Highland Ave. (010-051905), 189 S. Oakley Ave. (010-008843 & 010-056113), 342 S. Terrace Ave. (010-051252), 2036 Floral Ave. (010-027120), 76 N. Ogden Ave. (010-024979), and 140 N. Warren Ave. (010-042357) to Columbus Give Back II, LLC, who will rehabilitate the existing single family dwellings and maintain all structures as rental properties. The parcels will be transferred by deed recorded in the Official Records of the Franklin 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 land and such other expenses of the program as the City may apportion to such land from the sale proceeds.
EMERGENCY JUSTIFICATION: Emergency action is required to expedite the transfer to reduce further deterioration of the structures and to immediately commence rehabilitation.
Title
To authorize the Director of the Department of Development to execute any and all necessary agreements and deeds for conveyance of title of seven parcels of real property held in the Land Bank to Columbus Give Back II, LLC, pursuant to the Land Reutilization Program and Neighborhood Stabilization Program; and to declare an emergency.
Body
WHEREAS, ordinance 1860-2008 adopted the City's Neighborhood Stabilization Program, authorized the filing of the City's Neighborhood Stabilization Program application with the United States Department of Housing and Urban Development, and made a substantial amendm...
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