Purchase of the Hamilton County Owned Parcels at the North Site Property

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1 TO: FROM: Village Council Scot F. Lahrmer, Village Manager DATE: November 5, 2015 RE: Purchase of the Hamilton County Owned Parcels at the North Site Property ITEM: Purchase County owned parcels. ACTION REQUESTED: By motion, adopt Ordinance authorizing the Village Manager to enter into a contract with Hamilton County to purchase parcels , and PURPOSE: To purchase County owned parcels within the North Site property. The Village entered into an agreement with Jones Lang LaSalle Americas, Inc. to market 13.7 acres of the North Site property in February of The results of the marketing, produced a purchasing agreement with Schuermann Properties Acquisitions LLC in the amount of $1,370,000 for the 13.7 acres. The agreement allows for the 30 day study to determine if the development is feasible, with an additional 30 days to perform a title search and property inspections. After the 60 day inspection period and if both parties agree to move forward with the sale, Schuermann Properties will purchase part or all of the 13.7 acres. The potential uses for the property were presented as medical office and office warehousing. Within the purposed 13.7 acres of the North Site property, Hamilton County owns three parcels totaling approximately.568 acres. Acquisition of the county owned property by the Village would facilitate the use and utility of the North Site, its marketability to potential buyers and would enhance development on that site that is sought by the Village. The 3 parcels are shown on the attached map that reads North Site Zone Plat. In addition, the 3 parcel maps have been included as Exhibit A to the purchase agreement. The Hamilton County Board of County Commissioner s Office has agreed to relinquish the three parcels to the Village for the Hamilton County Auditor s assessed valuation of $18,720. The Auditor value is considered a fair value estimate, but traditionally is below true valuation. The full payment of $18,720 would be due at the closing. The closing of this purchase and sale of the property is set to occur on or before thirty (30) days after date of the agreement. The agreement allows for a 90 to 120 day inspection period. With the time frame of the closing on the Schuermann purchase agreement and the Village having control over the property since the early 1960s, the Village will wave the inspection period. Exclusive possession of the property shall be given to the Village on the date of closing, subject to the Permitted Encumbrances. The Land Development Committee met and discussed the agreement to purchase the County Property under the terms and conditions as set forth in the draft Purchase Agreement. The committee and staff determines it is in the best interests of the Village and its residents to purchase the County Property according to the proposed Purchase Agreement.

2 Staff recommends waiving the full 3 readings of the ordinance and enacting an emergency clause since time is of the essence to purchase the property from the County in order to facilitate a sale to a third party. If you have any questions, please let me know.

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7 PASSED: BY: ORDINANCE NO ORDINANCE AUTHORIZING AND DIRECTING THE VILLAGE MANAGER TO EXECUTE A CONTRACT FOR THE PURCHASE OF REAL PROPERTY FROM HAMILTON COUNTY WHEREAS, Amberley Village owns a parcel of land referred to as the North Site; WHEREAS, the North Site has been identified by Village Council as a valuable piece of land in the Village that would benefit from proper development; WHEREAS, Village Council determines it is in the best interest of the Village to sell the North Site for purposes of development as allowed under pertinent zoning regulations in a manner that benefits the Village and its residents; WHEREAS, immediately adjacent to the North Site, and encompassed within the area commonly referred to as the North Site, are three parcels currently owned by Hamilton County, comprising approximately.568 acres and consisting of Auditor s Parcel Nos. #s , and ( County Property ); WHEREAS, acquisition by the Village of the County Property would facilitate the use and utility of the North Site and its marketability to potential buyers, and would enhance development on that site that is sought by the Village; WHEREAS, the Land Development Committee met to discuss an agreement to purchase the County Property under the terms and conditions as set forth in the draft Purchase Agreement attached hereto as Exhibit A; WHEREAS, the agreed upon price for the County Property is equal to its current assessed value, which is $18,720.00, which Council determines is a fair and reasonable value for the property; WHEREAS, Council determines it is in the best interests of the Village and its residents to sell purchase the County Property according to the proposed Purchase Agreement; NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF AMBERLEY VILLAGE, STATE OF OHIO, members elected thereto concurring: SECTION 1: The Amberley Village Council hereby authorizes and directs the Village Manager to enter into a purchase agreement on behalf of the Village to buy real property from Hamilton County, consisting of.568 acres and Parcels , and , for a price not to exceed $18,720.00, plus any incidental and customary costs associated with any necessary inspections, appraisals, fees, insurance, and closing costs,

8 conditioned on approval by the Village Solicitor substantially in the form as the agreement attached hereto as Exhibit A and incorporated herein. SECTION 2: The Village Manager is authorized to enter into any agreements and take such actions as may be necessary and appropriate in furtherance of the Purchase Agreement. SECTION 3: This Ordinance is hereby declared to be an emergency measure necessary for the immediate preservation of the public peace, health and safety, and it shall go into effect forthwith. The reason for such emergency is that time is of the essence to purchase the property from the County in order to assemble parcels with other property owned by the Village to facilitate a sale to a third party. Passed this day of, Attest: Mayor Thomas C. Muething Nicole Browder, Clerk of Council Ordinance Vote: Moved: Second: Muething Wolf Bardach Conway Doering Hattenbach Warren I, Clerk of Council of Amberley Village, Ohio, certify that on the day of _, 2015, the forgoing Ordinance was published pursuant to Article IX of the Home Rule Charter by posting true copies of said Ordinance at all of the places of public notice as designed by Sec (B), Code of Ordinances. Nicole Browder, Clerk of Council