Label
DEBD LBSale2815-2825 N. Ontario/Foreman
Development / Real Estate
WJ Burkett (x1692) tk/cw
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 2815, 2817, 2821 & 2825 N. Ontario Street to Joseph S. Foreman of 2816 N. Michigan Street; 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. Joseph S. Foreman of 2816 N. Michigan Street, Toledo, Ohio 43611 has approached the city with the desire to acquire the vacant landbank parcels located at 2815, 2817, 2821 & 2825 N. Ontario Street to maintain along with Mr. Foreman's adjacent property. The vacant lots will provide added greenspace and lot expansion. The negotiated sale price for these parcels is One Hundred and Fifty Dollars ($150.00) 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 2815, 2817, 2821 & 2825 N. Ontario Street as is more fully described in Exhibits "A" and "B" attached hereto and made a part hereof, to Joseph S. Foreman 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 terms and conditions deemed necessary and proper by the Mayor, the Depar...
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