RESOLUTION NO. _______, SERIES 2018
TITLE
A RESOLUTION DETERMINING FIVE (5) PARCELS OF REAL PROPERTY, LOCATED AT THE ADDRESSES SET OUT IN EXHIBIT "A" ATTACHED HERETO AND OWNED BY LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT ("METRO GOVERNMENT") AS THE GOVERNMENTAL SUCCESSOR OF THE CITY OF LOUISVILLE, AS SURPLUS AND NOT NEEDED FOR A GOVERNMENTAL PURPOSE AND AUTHORIZING THEIR TRANSFER TO LOUISVILLE AND JEFFERSON COUNTY LANDBANK AUTHORITY, INC. ("LANDBANK").
BODY
SPONSORED BY: CHERI BRYANT HAMILTON
WHEREAS, according to KRS Chapter 67C.101, Metro Government may sell or transfer any real property belonging to Metro Government; and
WHEREAS, Section 1(A) of Executive Order No. 2, Series 2011 of the Mayor, which adopts Section 2(C) of Executive Order No. 3, Series 2007, provides that Metro Government may convey surplus real estate upon declaration by the Legislative Council of Metro Government ("the Council") that such property is no longer needed for the governmental purposes of Metro Government; and
WHEREAS, the parcels of real property which are the subject of this Resolution are distressed properties or vacant unimproved properties presently owned by Metro Government; and
WHEREAS, Landbank represents a cooperative effort by the major taxing authorities in Louisville Metro to deal with unoccupied, neglected, tax-delinquent properties throughout Louisville Metro; and
WHEREAS, Landbank acquires, manages and sells distressed properties to responsible developers who can affect increased property values and stimulate the tax base; and
WHEREAS, Landbank has the authority to merge property tax liens and miscellaneous liens with title and extinguish them to benefit subsequent buyers; and
WHEREAS, Landbank is an efficient, economic, and powerful redevelopment tool that makes properties available for sale with clear and marketable titles; and
WHEREAS, the assessed tax values of the real property which are the subject of this Resolution are as listed on Exhibit "A...
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