Label
DEBD LBSale5962-5973 318th/Cobourne
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 5962, 5963, 5967 & 5973 318th Street to Bradley and Christine Cobourne; 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. Bradley and Christine Cobourne of 3460 145th Street have approached the City with the desire to acquire the vacant landbank parcels at 5962, 5963, 5967 & 5973 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. Cobourne has been maintaining the lots on the City of Toledo's behalf for many years. Negotiated sale price for these parcels is One Hundred and Fifty Dollars ($150.00) per parcel and subject to parcel combine.
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 to execute needed instruments for the sale and conveyance of the real estate located at 5962, 5963, 5967 & 5973 318th Street as is more fully described in Exhibits "A" and "B" attached hereto and made a part hereof, to Bradley and Christine Cobourne 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 need...
Click here for full text