Explanation
BACKGROUND: One parcel 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 one parcel located at 498 S Hague Ave. (010-002538) to Hamilton Holdings, LLC, who will rehabilitate the existing single-family structure and maintain it for rental purposes. 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.
Title
To authorize the Director of the Department of Development to execute any and all necessary agreements and deeds for conveyance of title of one parcel of real property (498 S Hague Ave.) held in the Land Bank pursuant to the Land Reutilization Program.
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 land reutilization program; and
WHEREAS, a proposal for the sale of the property which was acquired pursuant to Ohio Revised Code Sections 5722.03 or 5722.06 meets the Land Reutilization Program’s Disposition Policies and Guiding Principles and has been a...
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