Explanation
BACKGROUND: Authorization is needed for the Director of the Department of Development to enter into an option agreement or sales contract to sell and transfer 1833 South Parsons Ave. (010-044235) in the Southern Gateway Redevelopment Area to The NRP Group LLC in conjunction with Community Development For All People. The site is the second phase of Parsons Village which will be a mixed use development offering additional senior housing and commercial space. The project is contingent on LIHTC tax credits and HOME funds. This legislation authorizes the Director of Development to enter into the necessary option agreement or agreements as needed to sell and transfer of the property.
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.
Title
To authorize the Director of the Department of Development to enter into an option agreement or agreements, as needed, to sell and transfer by quitclaim deed one parcel, located at 1833 South Parsons Ave., in the Southern Gateway Redevelopment Area.
Body
WHEREAS, by Ordinance 1325-98, 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 either return of such land to tax revenue generating status or its devotion to public use, or any other land acquired as part of the land reutilization program; and
WHEREAS, a proposal for the sale of the property which was acquired pursuant to Ohio Revised Code Section 57...
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