Explanation
BACKGROUND: Two 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. 452-454 Hamilton Ave. (010-046502) will be sold to John Marbury as a side yard expansion and 492 Yeoman Ave. (010-020651) will be sold to Rumpke & Rumpke, LLC as a lot expansion. The Land Bank acquired the first lot from the Franklin County Auditor and the second in a Sheriff's Sale from a tax foreclosure. 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 the owners so they may begin to maintain the lots.
Title
To authorize the Director of the Department of Development to execute any and all necessary agreements and deeds for conveyance of title of two parcels of real property (452-454 Hamilton Ave. and 492 Yeoman Ave.) 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 eith...
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