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HUDSON, OH (January 15, 2020) - Hudson City Council is moving forward on the sale of City-owned property on W. Executive Parkway off Boston Mills Road. The purchase price is significantly higher than what the City originally paid for the property, and the sale will put the property back on the tax rolls for future development.
The property was originally purchased in 2018 as part of the Summit County Land Reutilization Corporation (Land Bank) program. The Land Bank organization purchases severely delinquent parcels of land, cleans up any liens or title issues with the property, and sells them to the local municipality to encourage better use and revitalization of these neglected properties.
In May of 2017, Hudson City Council passed legislation to enter into an agreement with the Land Bank to purchase three vacant, delinquent parcels of land, which combined totaled $76,000.
Two parcels on Post Lane and Valley View Road next to the Turnpike would be used by the City to construct a stormwater management pond. The third parcel on W. Executive Parkway off Boston Mills Road would be sold as part of the City’s economic development efforts.
The 45-acre W. Executive Parkway property was purchased in 2018 for $70,800. Recently, the City found a buyer for the property, and per City Council’s direction, legislation will appear on next week’s Council meeting agenda to authorize the sale. Due to the nature and timing of a sales transaction, the legislation may require emergency language to meet agreement deadlines.
Additional details about the purchase will be forthcoming in next week’s meeting.