Explanation
BACKGROUND: Five properties have been approved for disposition to City County Holding Company, a nonprofit subsidiary of the Affordable Housing Trust of Columbus and Franklin County as a part of the Home Again Program. 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. This ordinance authorizes acceptance into the Land Bank and disposition of the properties known as 1722-1724 Cole Street (010-266211), 1728-1730 Cole Street (010-021109), and 1732-1734 Cole Street (010-264263), all three properties where donated to the City of Columbus by Huntington National Bank. The ordinance authorizes the disposition of 807 Ann Street (010-049927), a property acquired by tax foreclosure, and 835 Ann Street (010-052757), a property purchased from the United States Department of Housing and Urban Development. These five properties will be transferred by deed, which will be 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 land and such other expenses of the program as the City may apportion to such land from the sale proceeds.
EMERGENCY JUSTIFICATION: Emergency action of these properties is requested in order to expedite the redevelopment efforts.
Title
To accept three properties into the Land Bank; to authorize the Director of the Department of Development to execute any and all necessary agreements and deeds for conveyance of title of five 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...
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