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 five NSP parcels located at 1007 E. 15th Ave. (010-007522), 1088 E. 15th Ave. (010-048398), 1255 E. 15th Ave. (010-010985), 1311 E. 15th Ave. (010-033796), and 1348 E. 15th Ave. (010-019896), and two Land Bank parcels located at 1045 E. 15th Ave. (010-046044), and 1320 E. 15th Ave. (010-016071), to the Greater Linden Development Corporation, who will construct new single-family houses on each of the lots to be sold to homeowners. 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 necessary to expedite the transfer and decrease Land Bank maintenance costs.
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 located on East 15th Avenue and held in the Land Bank, pursuant to the Land Reutilization Program, to the Greater Linden Development Corporation; 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...
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