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AN ORDINANCE TO AMEND DIVISION 2,SECTION 2-291."REAL PROPERTY- SALE GENERALLY" <br /> TO ADD A SUBSECTION CREATING A MOW TO OWN PROGRAM <br /> WHEREAS, cities across the country have established a Mow to Own program as a means of <br /> transferring tax adjudicated properties to adjoining property owners who have maintained such <br /> properties for a specified period of time and in doing so have shown the desire to improve their <br /> neigborhoods and combat urban blight and neglect; and <br /> WHEREAS, the Memphis City Council finds that a program of this nature would be beneficial <br /> to our city and has developed policies and procedures to facilitate the sale and transfer of tax <br /> delinquent properties to adjoining property owners who will acquire credits towards the purchase <br /> price of said property through their participation in Memphis' Mow to Own program;and <br /> WHEREAS, this program has multiple benefits including encouraging and rewarding <br /> neighbors to invest sweat equity in the adjoining property and taking an otherwise vacant, <br /> abandoned, neglected and underutilized piece of land in an effort to improve the blighted <br /> conditions of neighborhoods and return it to a productive use on the City's tax rolls;and <br /> Whereas, this program has the further benefit of allowing publically funded maintenance <br /> activities on these abandoned vacant properties to be eliminated, freeing these public funds to be <br /> used in more productive community enhancement endeavors. <br /> NOW,THEREFORE, BE IT RESOLVED BY THE MEMPHIS CITY COUNCIL <br /> SECTION 1. <br /> Division 2. Real Property is hereby amended to add a new Sec. 2-291.1, to be entitled <br /> "Mow to Own Program:'That new section shall read as follows: <br /> Sec. 2-291.1 Mow to Own Program. The manager of the city real estate department shall be <br /> authorized to sell vacant property that adjoining property owners have maintained and are able to <br /> purchase through either credits or cash payments and credit, pursuant to the terms of a <br /> Memorandum of Understanding (MOU) between the property owners and the City. Any MOU shall <br /> contain the following provisions: <br /> (1) Program Eligibility <br />