Label
DNBD 214 DURA AVE/BRYSON TRANSPORT
Development/Real Estate
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 214 Dura Avenue to Bryson Transport Services; 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 acquired the property at 214 Dura Avenue, parcel 18-11217, in 2015 through the County Landbank in anticipation of the property becoming part of the Police Tow Lot. Other plans were made and legislation was passed in 2016 to purchase modular office buildings for the tow lot. The 214 Dura property was last sold in 1989 for $51,000, before any building was constructed. The property was previously used for truck transportation. There are currently unpaid property taxes totaling $74,262, for which the city has applied and expects to get full tax exemption before property transfer. The property appraised in 2018 for $265,000. Bryson Transport Services will bring 10 jobs, invest $150,000 in the property and add as many as 15 new jobs in the future. Bryson will purchase the property "as-is" and be responsible for any and all closing costs, fees and expenses, including title and survey work.
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 enter into a purchase agreement and execute needed instruments for the sale and conveyance of the real estate located at 214 Dura Avenue, as more fully described in Exhibit "A", to Bryson Transport Services for Two Hundred Thousand Dollars ($200,000).
SECTION 2. That the agreement and needed instruments shall contain other terms and conditions deemed necessary and proper by ...
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