Label
Sale of 1301 - 1327 N. Detroit Ave. and Part of 1414 Dorr St.
Department of Economic Development
Sandy Spang (Ext. 1614) / Doug Johnson (Ext. 1431)
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 City owned real estate located at 1301-1327 North Detroit Avenue and part of 1414 Dorr Street, Toledo Ohio to the Toledo Urban Federal Credit Union; waiving the competitive bidding and advertising provisions of TMC 187.19; authorizing the deposit of net sale proceeds; making certain findings with respect thereto; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
The City of Toledo is the owner of certain real property located at 1301-1327 North Detroit Avenue and part of 1414 Dorr Street (Parcel ID Numbers 05-03884, 05-03891, 05-03894, 05-03897, 05-03901, 05-03904, 05-03907, 05-03911 and part of 05-03917). In the decade of the 1970's, these lots were obtained by the City of Toledo, combined with adjacent lots, and maintained as green space.
Historically, the Dorr Street Corridor was a cultural and economic hub of the African American community in Toledo. This nine-block area contained 70 black-owned enterprises by 1971. Today, this vibrant economic corridor exists primarily in historical documentation and personal memories. Urban renewal programs in the mid-1970s resulted in the demolition of over 300 structures; homes, offices and storefronts, two theaters and a bowling alley, in less than three years. The Subject Property is in a portion of this Dorr Street Corridor, and the proposed development has the potential to catalyze redevelopment of this area as a neighborhood commercial corridor.
Toledo Urban Federal Credit Union (TUFCU) is a 501(c) (1) nonprofit organization, and Toledo's first community development credit union, offers banking services, loans and financial counseling. TUFCU opened its doors to serve the central...
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