Label
DEBD 4457 Lagrange Property Sale Modern Builders Supply
Development / Real Estate
Bill Burkett (x1692)
Title
Authorizing the Mayor to enter, execute and deliver a Real Estate Purchase Agreement and other needed instruments for the sale and conveyance of city-owned real property located at 4457 Lagrange Street to Modern Builders Supply; authorizing the deposit of net 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. Modern Builders Supply has approached the city with the desire to acquire the vacant land bank parcel at 4457 Lagrange Street. Modern Builders Supply will maintain the property as greenspace.
The negotiated sale price for the parcel is One Hundred and Fifty Dollars ($150.00).
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 4457 Lagrange Street as is more fully described in Exhibit "A" and attached hereto and made a part hereof, to Modern Builders Supply for One Hundred Fifty ($150.00) Dollars.
SECTION 2. That the Agreements 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 said real estate provided for ther...
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