Explanation
BACKGROUND: Two parcels currently held in the Land Bank have been approved for disposition. In order to enter into an option agreement and transfer the property, authorization is needed for the Director of the Department of Development to enter into an agreement to sell the parcels and execute any and all agreements and deeds for conveyance. This legislation authorizes transfer of two parcels located at 000 Mt Vernon Ave. (010-251645) and 738 Mt Vernon Ave. (010-042630) to Shiloh Development Partners, who will combine these lots with the adjacent lots in their ownership to construct a multi-family development. The proposed development is pending a Council Variance and Rezoning in a separate Ordinance.
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 Legislation is requested to expedite the transfer to meet developer timelines.
Title
To authorize the Director of the Department of Development to execute any and all necessary agreements and deeds for conveyance of title of two parcels of real property (0000 and 738 Mt. Vernon 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 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...
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