Label
Sale of 866 Bartley Pl
Department of Economic Development
Brandon Sehlhorst (x1692)
Revised
Title
Authorizing the Mayor to enter into a Real Estate Purchase Agreement and other needed instruments for the sale and conveyance of 866 Bartley Pl to The Toledo Zoological Society; authorizing the deposit of net sale proceeds; making certain findings with respect thereto; waiving the notice and competitive bidding provisions of T.M.C. 187.19; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
The City of Toledo is the owner of certain real property located at 866 Bartley Pl Toledo, Ohio 43609 (Parcel 02-06461) ("Subject Property") as further identified in Exhibit A. The City acquired the 5.81-acre property in May 2018 for $1.00.
The Department of Economic Development has been working with the Toledo Zoo on a plan to redevelop the 20-acre brownfield site, commonly known as the Jennison Wright property, into a new surface parking lot that will allow Zoo to expand its operations on the northside of the Anthony Wayne Trail. The $12.5 million project is expected to start construction in 2022.
The Subject Property is needed for the redevelopment project. The Administration is requesting that Council support the Toledo Zoo's expansion project by agreeing to sell the Subject Property to the Zoo for the purchase price of one-dollar ($1.00).
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That the Mayor and the Department of Economic Development are authorized to enter into a Real Estate Purchase Agreement and execute needed instruments for the sale and conveyance of real property located at 866 Bartley Pl Toledo, Ohio 43609 (Parcel 02-06461) as more fully described in Exhibit "A", to The Toledo Zoological Society for $1.00.
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 ...
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