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File #: O-435-21    Version: 1 Name:
Type: Ordinance Status: Agenda Ready
File created: 8/3/2021 In control: Development Department
On agenda: 8/17/2021 Final action: 8/17/2021
Title: Authorizing the Mayor to enter, execute and deliver a real estate purchase agreement and other needed instruments for the sale and conveyance of 2210 Shoreland to , Timothy P. Hudgin and Marcia A. Hudgin, Trustees; Robert A. Wettle and Lynette M. Wettle; Richard W. Minnich and Kelly M. Malinowski ; James A. Nelson and Theresa A. Morrison; DSC Brothers, LTD; and Robert J. Zugay 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. Exhibit A, 2. Proposed Property Split, 3. Audio: City Council August 17, 2021
Label
DED 2210SHORELANDSALE
Economic Development/Real Estate
DA Johnson (x1614)

Title
Authorizing the Mayor to enter, execute and deliver a real estate purchase agreement and other needed instruments for the sale and conveyance of 2210 Shoreland to , Timothy P. Hudgin and Marcia A. Hudgin, Trustees; Robert A. Wettle and Lynette M. Wettle; Richard W. Minnich and Kelly M. Malinowski ; James A. Nelson and Theresa A. Morrison; DSC Brothers, LTD; and Robert J. Zugay 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 2210 Shoreland, parcel #22-17874, in 1978 as a donation from the developer of the adjacent residential plat. The property will be sold for $18,300, split between the property owners across Shoreland. The property will be sold "as-is" and the purchasers will be responsible for settlement and closing fees and recording costs, including premiums for any title insurance.

The fiscal impact of this ordinance is as follows:
- The amount of funds requested: $0.00
- The expenditure budget line item: N/A
- New revenue generated (operational revenue, grants, if any): $18,300
- Revenue budget line item (if any): 5040-16500-5000436STDSTD
- 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 are authorized enter into purchase ...

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