Explanation
BACKGROUND:
Ordinance 2732-2015 authorized the Director of Development to enter into contracts for various expenditures to stabilize and improve properties managed by the Land Reutilization Program. The funds established under the ordinance have been cancelled and were used for small projects, such as roof repairs, concrete/sidewalk repairs, engineering reports, and other unplanned improvements and services. This legislation will authorize the expenditure of the remaining $407,975 for the same purpose and add authorization to enter into agreements with the County Land Reutilization Program for joint land bank projects. The Land Banks have partnered to make improvements to several properties and to make them available for sale or lease. The funds will be used for the stabilization and repair of property and for professional services to allow the Land Reutilization Program to evaluate, acquire, improve, and dispose of property.
EMERGENCY DESIGNATION: Emergency legislation is requested to have funds available for stabilization costs associated with unexpected work on properties acquired under the Land Reutilization Program.
FISCAL IMPACT: This ordinance authorizes an expenditure of $407,975.00 in the Development Taxable Bonds Fund for various unplanned renovations and improvements for properties held in the Land Reutilization Programs.
Title
To amend the 2019 Capital Improvement Budget; to authorize the Director of Development to enter into contracts for miscellaneous services for properties managed by the Land Reutilization Programs; to authorize the expenditure of $407,975.00 from the Development Taxable Bonds Fund; and to declare an emergency. ($407,975.00)
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 Cou...
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