(a) The City hereby adopts, and implements the procedures set forth in Ohio R.C. Chapter 5722, as amended, to facilitate the effective reutilization of nonproductive land situated within the boundaries of the City, to foster the return of such nonproductive land to tax revenue generating status and/or the devotion of public use.
(b) The City Manager or his designee shall administer the land reutilization program in accordance with this section and Ohio R.C. Chapter 5722.
(c) The City may sell any land acquired by it as part of this land reutilization program at such time, to such person or entities, and upon such terms and conditions subject to such restrictions and covenants as it deems necessary or appropriate to assure the land’s effective reutilization. Said right to sell shall include the right to grant easements for public highway purposes. In the event of the sale of real estate, the sale shall be as fair market value, defined as the appraised value of nonproductive land made with reference to such redevelopment and reutilization restrictions as may be imposed by the City as a condition of sale, or as may otherwise be applicable to such land.
(d) Upon the approval of legislative authority of those tax districts entitled to share the proceeds from the sale of any land acquired by the City as a part of the land reutilization program, the City may either retain said land for devotion by it to public use, or sell, lease or otherwise transfer any such land to another political subdivision for the devotion to public use by such political subdivision, including highway purposes.
(e) The proceeds of the sale of any land acquired as a part of this land reutilization program shall be applied and distributed in accordance with Ohio R.C. 5722.08.
(f) All land acquired and held by the City pursuant to this section and Ohio R.C. Chapter 5722 shall be deemed real property for the use of public purposes and shall be exempt from taxation until sold.
(Ord. 1368. Passed 9-12-05.)