Explanation
BACKGROUND: Five parcels currently held in the Land Bank has 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 five parcels located at 952-54 Lockbourne Rd. (010-044752), 856 S Gilbert St. (010-064845), 973 S Gilbert St. (010-013520), 1057-1059 Wilson Ave. (010-048173), and 1246-1248 S 22nd St. (010-032300) to Healthy Rental Homes VI LLC, who will construct new single family homes on the vacant parcels for affordable housing. The parcel 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 Legislation 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 five parcels of real property (952-54 Lockbourne Rd., 856 S Gilbert St., 973 S Gilbert St., 1057-1059 Wilson Ave., and 1246-1248 S 22nd St.) 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...
Click here for full text