Label
Option to Purchase Toledo Skyway Marina
Department of Economic Development
B Sehlhorst (x1692)
Title
Authorizing the Mayor to enter, execute and deliver a real estate purchase option agreement and other needed instruments for the sale and conveyance of a 4.8-acre portion of city owned real property located at 1701 Front Street to the Metropolitan Park District of the Toledo Area; 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 and the Metropolitan Park District of the Toledo Area ("Metroparks") are partners on the development of the 70-acre Glass City Metropark and 5-mile Glass City Riverwalk projects. The $200+ million-dollar projects will revitalize the City's riverfront into a thriving, vibrant public greenspace for the region. The projects span both sides of the Maumee River from the Veteran's Glass City Skyway to the Anthony Wayne Bridge.
The city of Toledo ("City") is the owner of certain real property commonly referred to as the Toledo Skyway Marina, which is located at 1701 Front Street, Toledo, OH 43608 (Parcel ID 18-64072) and further identified in Exhibit A ("Property"). The Property is located adjacent to the Glass City Metropark and Glass City Riverwalk projects as further identified in Exhibit B.
As part of Metoparks' strategic investment in these transformational projects and efforts to create and enhance recreational assets along the Maumee River, the City and Metroparks desire to enter into an Option to Purchase Agreement for the proposed sale and conveyance of the Toledo Skyway Marina. Metroparks is interested in acquiring the Property to continue to operate a public marina for the benefit of the community. The City will grant Metroparks a two-year Option to Purchase. The sale price for the property shall be one-dollar ($1.00).
The ...
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