Label
DN/1157 Grand/Driggs
Department of Housing and Community Development
R Clemens (x3647)
D A Johnson (x1431)
Title
Authorizing the Mayor to enter, execute and deliver a real estate purchase agreement and other needed instruments for the sale and conveyance of 1157 Grand Ave. to the MVAH Holding LLC; 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 a 2.77-acre parcel at 1157 Grand Avenue (Grand Ave & N. Detroit), the former Driggs Dairy site. The City first acquired this lot in 2015 from the Lucas County Land Bank. MVAH Holding LLC has offered to buy the parcel for three Hundred and Fifty Thousand Dollars ($350,000) and is planning to construct a mixed-use, multi-family facility on the site. This is an opportunity to bring new, quality residential housing to a long-unused, blighted lot in the city's residential core.
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That the Mayor, the Department of Housing and Community Development, and the Real Estate division of the Department of Economic Development are authorized to enter into a purchase agreement and execute needed instruments for the sale and conveyance of the real estate located at 1157 Grand Avenue, as more fully described in Exhibit "A", to MVAH Holding LLC for $350,000.
SECTION 2. That the agreement and needed instruments shall contain other terms and conditions deemed necessary and proper by the Mayor, the Department of Law, the Department of Housing and Community Development and the Department of Economic 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 find it in the public interest to waive the competitive bidding requireme...
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