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TO AUTHORIZE THE MAYOR TO ENTER INTO A PURCHASE AGREEMENT FOR PROPERTY LOCATED AT 496 EAST JOHNSTOWN ROAD; AND TO DECLARE AN EMERGENCY.
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WHEREAS, the City established the Johnstown Road Tax Financing District (TIF) to generate revenue for public infrastructure improvements; and
WHEREAS, these public infrastructure improvements include bike paths, real estate acquisition, and public parks; and
WHEREAS, the property located at 496 E. Johnstown Rd. was identified as a critical component to extend the city's bike path from Hamilton Rd. to Johnstown Rd.; and
WHEREAS, the Gahanna Community Improvement Corporation (CIC) entered into an Option Agreement to purchase the property, which gives the CIC the right to buy the property, and the CIC has the right to assign the Option Agreement to the City; and
WHEREAS, the CIC assigned the right to purchase the property to the City on May 30th, and after that date, the City and the property owner have fourteen days to finalize the purchase; and
WHEREAS, in order to take advantage of this opportunity, it is imperative to move forward with the agreement, and all for the preservation of the public peace, property, health, safety and welfare.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY OF GAHANNA, COUNTY OF FRANKLIN, STATE OF OHIO:
Section 1. That the Mayor is hereby authorized to accept the assignment of the Option Agreement from the CIC.
Section 2. That the Mayor is hereby authorized to execute the purchase agreement for the purchase of property located at 496 E. Johnstown Rd.
Section 3. That the City will reimburse the CIC for the $1,500 option agreement expense.
Section 4. That to fund the purchase authorized in Section 2, an amount of one hundred fifty thousand dollars ($150,000.00) in the unappropriated Johnstown Road TIF Fund be and is hereby appropriated to account number 22411100-5515.
Section 5. That the second reading is hereby waived.
Section 6. That this Ordinance shall be in full force an...
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