Share to Facebook Share to Twitter Bookmark and Share
File #: O-394-21    Version: 1 Name:
Type: Ordinance Status: Approved
File created: 7/6/2021 In control: Development Department
On agenda: 7/20/2021 Final action: 7/20/2021
Title: Authorizing the Mayor to enter, execute and deliver a real estate purchase agreement and other needed instruments for the sale and conveyance of 3428, 3430 and 3434 Glenwood to the Jeep Country Federal Credit Union; 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.
Attachments: 1. Talking Points
Label
DED/Glenwood/JFCU
Development/Real Estate
D A Johnson (x1431)
S Spang (x)

Title
Authorizing the Mayor to enter, execute and deliver a real estate purchase agreement and other needed instruments for the sale and conveyance of 3428, 3430 and 3434 Glenwood to the Jeep Country Federal Credit Union; 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 is the owner of three lots in the 3400 block of Glenwood (3428 through 3434 Glenwood). The city first acquired two of the lots in 2015 from the Lucas County Land Bank in 2015 and the third from the Lucas County Land Bank in 2017. The Jeep Country Federal Credit Union has offered to purchase the three lots for $1,500 ($500 per parcel) and will use the property to increase the capabilities of the existing Detroit Avenue branch with a multi-lane drive-through teller kiosk/ATM. Proposed plans include new retaining wall, improved landscaping and a privacy fence between the new facilities and an adjacent residence.

The fiscal impact of the ordinance is as follows:
- The amount of funds requested: $0
- The expenditure budget line item: n/a
- New revenue generated (operational revenue, grants, if any): $1,500
- Revenue budget line item (if any): None
- Are funds budgeted in the current fiscal year (yes/no)?: n/a
- Is this a capital project (yes/no)? No
- If yes, is it new or existing (new/existing)? n/a
- What section of the City's Strategic Plan does this support:
o Excellence in Basic Services (yes/no) No
o Quality Community Investment (Livable City, Development) (Yes/No) Yes
o Workplace Culture & Customer Service (yes/no) no
o Environment (yes/no) no

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 Economic Development ar...

Click here for full text