Explanation
BACKGROUND: Eleven 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 transfer of eleven parcels located at 0000 Taylor Ave. (010-082111), 0000 Bassett Ave. (010-057054), 787 Bassett Ave. (010-041862), 791 Bassett Ave. (010-081678), 800 Bassett Ave. (010-032686), 822 Bassett Ave. (010-003933), 839 Bassett Ave. (010-050000), 841 Bassett Ave. (010-056560), 843 Bassett Ave. (010-018662), 847 Bassett Ave. (010-013686), and 831 Parkwood Ave. (010-033641) to NISRE Holdings LLC, who will construct new single family homes and place them for sale. The parcels will be transferred by deed recorded in the Official Records of the Franklin County Recorder’s Office.
FISCAL IMPACT: 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 requested to expedite the transfer in order to reduce 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 eleven parcels of real property (0000 Taylor Ave., 0000 Bassett Ave., 787 Bassett Ave., 791 Bassett Ave., 800 Bassett Ave., 822 Bassett Ave., 839 Bassett Ave., 841 Bassett Ave., 843 Bassett Ave., 847 Bassett Ave., and 831 Parkwood Ave.) held in the Land Bank pursuant to the Land Reutilization Program and to declare an emergency.
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 non...
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