To

Mayor and Council

Subject

Transfer of Property

Initiator

City Manager?s Office

Recommendation

Approve the transfer of 12 parcels of property identified as Sheriff?s Deed, \n \n (see attached maps) to the Land Bank Authority.

Approval

Approved

Background

The 12 parcels of property came into the possession of the City through

delinquent tax sales from 1979 to 1993, these properties were declared surplus

Resolution No. 541-99 and listed for sell on the surplus property list for more

than a year. These properties are not marketable primarily due to location.

These properties should be transferred to the Land Bank Authority, to complete

the right of redemption; process for disposition and sale to non-profit, thus

returning said properties to the tax r

Analysis

The properties consist of 12 Sheriff Deeds. (See attached maps). The

Columbus Housing Initiative, Inc., Habitat For Humanity and Community Housing

Development Organization (CHDO) are interested in developing these properties.

Financial Considerations

The value of this property will be to place properties on the tax roll. The

Council will transfer the properties to the Land Bank Authority. The

non-profit organization will pay all expenses related to processing the right

of redemption, and expenses of transfer and sale.

Projected Annual Fiscal Impact Statement

Legal Considerations

OCGA Sec. 48-4-63(a), Columbus Code Sec. 2-186(a), Columbus Charter 7-501(2).

The Land Bank Authority will require that any non-profit housing developer

(Purchaser) shall develop the property within 2 years of date of sale from the

Land Bank Authority or any lien that has been forgiven will be immediately due

and payable. Failure of the non-profit to pay said forgiven lien within 60

days after the 2-year period would cause the property to revert to the Land

Bank Authority/City of Columbus. Council must approve the transfer of real

estate.

Recommendations/ Actions

Approve the attached Resolution to approve the transfer of the above-identified

surplus properties.

No attachments for this document.