Explanation
BACKGROUND: Approval is requested to authorize the Director of the Department of Development to transfer three parcels held under the Land Reutilization Program (City Land Bank) to the Central Ohio Community Improvement Corporation (COCIC) and to enter into agreements to control the future use and income from the properties. COCIC will hold and lease the properties and provide a portion of the rental income to the City Land Bank. The properties are located within Franklinton and acquired by the City Land Bank under Ordinances No. 2609-2012 and 0690-2013.
FISCAL IMPACT: Income received from the properties will be deposited in the Land Management Fund.
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 transfer three parcels held in the Land Reutilization Program to the Central Ohio Community Improvement Corporation (COCIC); and to enter into agreements regarding the control, use and income from the three parcels, and to declare an emergency.
Body
WHEREAS, by Ordinance 0277-2013, City Council authorized the Director of the Department of Development to enter into a Master Memorandum of Agreement (MOU) with COCIC to create a framework under which the City’s Land Reutilization Program and the COCIC operate; and
WHEREAS, this Ordinance aurthorizes the transfer of three parcels that are not apart of the MOU; and
WHEREAS, City Council approved Ordinance Nos. 2609-2012 and 0690-2013 to authorize the Director of Development to acquire properties within the East Franklinton Area and hold the properties under the Land Reutilization Program to guide future redevelopment efforts; and
WHEREAS, COCIC will manage the properties, lease for uses consistent with the East Franklinton Creative Community District Plan, and provide income for the City’s Land Reutilization Program through other agreements between COCIC a...
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