Label
DEBD LB Sale 131 18th Street/MBKG Properties LLC
Development/Real Estate
WJ Burkett (x1692) cw
(Revised)
Title
Authorizing the mayor to enter, execute and deliver a real estate purchase agreement and other needed instruments for the sale and conveyance of 131 18th Street to MBKG Properties, LLC.; authorizing the deposit of net sale proceeds; making certain findings with respect thereto; waiving the notice and bidding provisions of T.M.C. 187.19; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
The City operates a Land Reutilization Program pursuant to Section 187.19(a) of the Toledo Municipal Code which authorizes the City to accept nonproductive land and dispose of same pursuant to Chapter 5722 of the Ohio Revised Code. The Department of Economic & Business Development oversees the review and processing of the program. MBKG Properties, LLC, who currently owns multiple vacant parcels in the surrounding area on 18th, 19th and Monroe Street, has approached the City of Toledo with the desire to acquire the vacant landbank parcel located at 131 18th Street. MBKG Properties, LLC is the adjacent land owners of 127 18th Street and intends to utilize the newly acquired lot as property expansion and green space and available land for future development in the neighborhood. Negotiated sale price for this property is One Thousand Dollars ($1,000) plus recording fees.
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That the mayor and the real estate division of the Department of Development are authorized to execute needed instruments for the sale and conveyance of the real estate located at 131 18th Street as is more fully described in Exhibit “A” and attached hereto and made a part hereof, to MBKG Properties LLC for One Thousand Dollars ($1,000).
SECTION 2. That the agreement and needed instruments shall contain other terms and conditions deemed necessary and proper by the mayor, the Department of Law and the Department of Economic & Business Development.
SECTION 3. That it is found and determined that the subject real property is not needed for any municipal purpose.
SECTION 4. That this Council approves the agreement, including the sale and conveyance of said real estate provided for therein, notwithstanding and as an exception to the notice and bidding provisions of Chapter 187.19 of the Toledo Municipal Code. The reason for the waiver and exception is that the property is not needed for any municipal purpose and that combine and re-use of this property with the adjacent property is found to be the highest and best use to return the property to a tax producing status.
SECTION 5. That the mayor is authorized to execute and deliver such deeds, certifications and instruments as are necessary to carry out the agreement and the Director of Development, Director of Law, Director of Finance, Clerk of Council and other appropriate officials of this city are authorized to enter into, execute and deliver such other agreements, instruments, documents and certificates and to take such other lawful action as may be necessary or appropriate in order to fully implement the Agreement.
SECTION 6. That the Finance Director is authorized to accept and deposit the net sale proceeds into Account Code 1001-16500-5000436STDSTD.
SECTION 7. That it is found and determined that all formal actions of Council concerning and relating to the passage of this Ordinance were adopted in an open meeting of Council and that all deliberations of Council and any of its committees that result in such formal action were in meetings open to the public in compliance with all legal requirements, including Section 121.22, Ohio Revised Code.
SECTION 8. That this Ordinance is declared to be an emergency measure and shall take effect and be in force immediately from and after its passage. The reason for the emergency lies in the fact that same is necessary for the immediate preservation of the public peace, health, safety and property and for the further reason that this Ordinance must be immediately effective to facilitate sale and conveyance of the property to MBKG Properties, LLC for maintenance, neighborhood beautification and future economic development.
Vote on emergency clause: yeas _____, nays _____.
Passed: _________________, as an emergency measure: yeas _____, nays _____.
Attest: ________________________ __________________________________
Clerk of Council President of Council
Approved: _____________________ __________________________________
Mayor
I hereby certify that the above is a true and correct copy of an Ordinance passed by Council ________________________.
Attest: ________________________
Clerk of Council