Ohio § 5722.07 Sale of land acquired in land reutilization program

Ohio Statutes

§ 5722.07 — Sale of land acquired in land reutilization program

Ohio § 5722.07

Title 57Taxation

Ch. 5722Land Reutilization Program

This text of Ohio § 5722.07 (Sale of land acquired in land reutilization program) is published on Counsel Stack Legal Research, covering Ohio primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ohio Rev. Code Ann. § 5722.07 (2026).

Text

As used in this section, "fair market value"  means the appraised value of the nonproductive land made with  reference to such redevelopment and reutilization restrictions as  may be imposed by the electing subdivision as a condition of sale  or as may be otherwise applicable to such land.

An electing subdivision may, without competitive bidding,  sell any land acquired by it as a part of its land reutilization  program at such times, to such persons, and upon such terms and  conditions, and subject to such restrictions and covenants as it  deems necessary or appropriate to assure the land's effective  reutilization. Except with respect to a sale by or to a county  land reutilization corporation, such land shall be sold at not  less than its fair market value. However, except with respect

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As used in this section, "fair market value" means the appraised value of the nonproductive land made with reference to such redevelopment and reutilization restrictions as may be imposed by the electing subdivision as a condition of sale or as may be otherwise applicable to such land.

An electing subdivision may, without competitive bidding, sell any land acquired by it as a part of its land reutilization program at such times, to such persons, and upon such terms and conditions, and subject to such restrictions and covenants as it deems necessary or appropriate to assure the land's effective reutilization. Except with respect to a sale by or to a county land reutilization corporation, such land shall be sold at not less than its fair market value. However, except with respect to land held by a county land reutilization corporation, upon the approval of the legislative authorities of those taxing districts entitled to share in the proceeds from the sale thereof, the electing subdivision may either retain such 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 for a consideration less than fair market value.

Whenever an electing subdivision sells any land acquired as part of its land reutilization program for an amount equal to or greater than fair market value, it shall execute and deliver all agreements and instruments incident thereto. The electing subdivision may execute and deliver all agreements and instruments without procuring any approval, consent, conveyance, or other instrument from any other person or entity, including the other taxing districts entitled to share in the proceeds from the sale thereof.

An electing subdivision may, for purposes of land disposition, consolidate, assemble, or subdivide individual parcels of land acquired as part of its land reutilization program.