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Council authorizes exploration of reverter clause on historic East Sandusky Street building
Summary
Council voted to explore an agreement with the Fredericktown Historical Society and the Knox County Land Bank to exercise a reverter clause on the historic East Sandusky Street property and to have the Land Bank act as agent for sale under village guidelines while consulting state historic preservation staff.
The Fredericktown Village Council on March 2 approved a motion to explore using the village's reverter clause on a historic property on East Sandusky Street.
Council Member Lanuzza moved that the village explore entering into an agreement with the Fredericktown Historical Society and the Knox County Land Bank to exercise the reverter clause on the historic building. The motion directs the village to work with the Land Bank to act as the village's agent for sale under guidelines set by the village and to consult with the state historic preservation group about demolition and the prerequisites for selling the property. Council Member McKnight seconded the motion and it was recorded as All Yea.
Why it matters: exercising a reverter clause could transfer control of the property back to the village, enabling the municipality to work with the Land Bank on disposition under local guidelines. Council's motion authorizes exploratory steps, not a final sale or demolition; further action will be required to execute any transfer or sale.
Next steps: staff were directed to pursue discussions with the Historical Society, the Knox County Land Bank and the state historic preservation group and to report back to council.
