Label
Land Bank Sale 5949-5955 318th Street
Department of Economic and Business Development
WJ Burkett (x1692)
(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 5949, 5951, 5955 & 5961 318th Street to Tom and Cynthia Zunk; 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. Tom and Cynthia Zunk of 3459 140th Street, Toledo, Ohio 43611, have approached the City with the desire to acquire the vacant landbank parcels at 5949, 5951, 5955 & 5961 318th Street to maintain along with the other adjacent property they currently own. The vacant lots will provide added greenspace and be used for neighborhood beautification. Mr. Zunk has been maintaining the lots on the City of Toledo's behalf for many years. The negotiated sale price for these parcels is One Hundred and Fifty Dollars ($150) per parcel (4), plus recording and transfer fees subject to combine of parcels.
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That the Mayor is authorized to execute needed instruments for the sale and conveyance of the real estate located at 5949, 5951, 5955 & 5961 318th Street as is more fully described in the attached Exhibits "A" and "B", to Tom and Cynthia Zunk for One Hundred Fifty Dollars ($150.00) per parcel (4) for a total of Six Hundred Dollars ($600.00).
SECTION 2. That the Agreement and needed instruments shall contain other ter...
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