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File #: 1978-2021    Version: 1
Type: Ordinance Status: Passed
File created: 7/8/2021 In control: Finance Committee
On agenda: 7/19/2021 Final action: 7/22/2021
Title: To authorize the Director of Finance and Management to execute a release of the 52-year ground lease, with the Franklin County Convention Facilities Authority; to execute a quit claim deed generally providing for the transfer of all of the City’s interest in the .572 acre parcel subject to a reservation of a reversionary interest in the event the property is no longer used as a hotel in connection to the Greater Columbus Convention Center and the reservation of an easement for existing public utilities, and easements, conditions, restrictions, and other matters of record, to the Franklin County Convention Facilities Authority; to enter into and execute other documents pertinent to such conveyance; to the extent applicable, to waive the requirements of Chapter 329.32 of Columbus City Code relating to the sale of city-owned real property; and to declare an emergency. ($0.00)
Explanation

Background: The following legislation authorizes the Director of Finance and Management to execute a termination of the 52-year ground lease, and to execute a quit claim deed to the Franklin County Convention Facilities Authority conveying title to the Hilton 2.0 Parcel, subject to the reservation of a reversionary interest in the event the property is no longer used as a hotel in connection to the Greater Columbus Convention Center and the reservation of an easement for existing public utilities; and to execute other pertinent documents. It is in the City’s best interest to waive the requirements of Chapter 329.32 of the Columbus City Code relating to the sale of city-owned real property.

Fiscal Impact: No expenditure of funds by the City is required.

Emergency Justification: Emergency legislation is requested to expedite development of the Hilton Columbus Downtown.

Title

To authorize the Director of Finance and Management to execute a release of the 52-year ground lease, with the Franklin County Convention Facilities Authority; to execute a quit claim deed generally providing for the transfer of all of the City’s interest in the .572 acre parcel subject to a reservation of a reversionary interest in the event the property is no longer used as a hotel in connection to the Greater Columbus Convention Center and the reservation of an easement for existing public utilities, and easements, conditions, restrictions, and other matters of record, to the Franklin County Convention Facilities Authority; to enter into and execute other documents pertinent to such conveyance; to the extent applicable, to waive the requirements of Chapter 329.32 of Columbus City Code relating to the sale of city-owned real property; and to declare an emergency. ($0.00)

Body

WHEREAS, the City owns fee interest in the 0.572-acre parcel of the real property identified as Franklin County Tax Parcel No. 010-300577, of record pursuant to Instrument No. 201912310175860, Fran...

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