Explanation
Background: Pursuant to Ordinance 1401-83, the City conveyed by quit-claim deed its property located at 115 Gift Street to the Boys Club of Columbus, Inc., now the Boys and Girls Clubs of Columbus, Inc., an Ohio nonprofit corporation, recorded in Vol. 03194, Pg. H08, Instrument No. 198308170111041, Recorder’s Office, Franklin County, which was subject to a reversionary interest retained by the City should the property ever be used for other than benevolent and charitable purposes. Due to changes in demographic and programmatic needs of the Franklinton neighborhood, the Boys and Girls Clubs of Columbus, Inc. wishes to sell the property located at 115 Gift Street and move its operations to 85 Clarendon Avenue to better serve the needs of both the Franklinton and Hilltop neighborhoods. The City desires to support the move as it will enable the Boys and Girls Clubs of Columbus, Inc. to expand its programming and services to better serve the youth of the Franklinton and Hilltop neighborhoods.
This legislation authorizes the Director of Finance and Management, on behalf of the City, to enter into a Memorandum of Understanding (MOU) with the Boys and Girls Clubs of Columbus, Inc. to outline certain commitments of the parties relating to conditions for the City to release its reversionary interest in the 115 Gift Street property and is presented as an emergency measure.
Fiscal Impact: There is no fiscal impact associated with the execution of the Memorandum of Understanding (MOU).
Emergency Justification: Emergency action is requested to allow the Boys and Girls Clubs of Columbus, Inc. to proceed in a timely manner with a real estate sale agreement and meet transaction deadlines for closing.
Title
To authorize the Director of Finance and Management, on behalf of the City, to enter into a Memorandum of Understanding (MOU) with the Boys and Girls Clubs of Columbus, Inc. regarding the plans and commitments of the parties relating to the property locate...
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