EXPLANATION
BACKGROUND: The City is the holder of an Environmental Covenant (“EC”), recorded as Instrument Number 200710120179039, burdening and protecting certain real property located near Rocky Fork Creek and identified as portions of tax parcels 010-2666699 and 010-298015, owned by Casto NA Residual, LLC, an Ohio limited liability company, and HC Office Sub 6, LLC, an Ohio limited liability company, respectively (“Owners”). The Owners are Casto and Daimler Group, Inc. related entities. The protected area under the EC is generally located east of Hamilton Road and south of State Route 161. In the Owners’ efforts to redevelop their property, the Owners desire to amend the EC to remove approximately 2.2 +/- acres from the EC in exchange for adding an additional 4.2 +/- acres. As additional consideration for the City agreeing to amend, release, modify or enter into new Environmental Covenants, as may be required by the Ohio Environmental Protection Agency (“OEPA”), the Owners agree to convey by general warranty deed, at no cost to the City, approximately 22.3+/- acres of tax parcel 010-266699 and all of tax parcel 545-175656 (approximately 23 +/- acres), as well as grant a 20’ bike trail easement on their remainder portion of tax parcel 010-266699. The bike trail easement will terminate if the City does not build a bike trail within 10 years of the easement being executed. The Recreation and Parks Department (“R&P”) has reviewed and supports the request as being in the best interests of the City.
CONTRACT COMPLIANCE: Not applicable.
FISCAL IMPACT: Not applicable
EMERGENCY JUSTIFICATION: Emergency action is requested in order to allow R&P’s to enter into any agreement(s) as may be required to complete the transaction(s) contemplated herein, thereby allowing the redevelopment to occur without unnecessary delay, and allowing R&P’s to timely obtain the real property interests, which will preserve the public peace, health, property, safety, and welfare.
T...
Click here for full text