52-68 Sell property located in Sloane Ave Redevelopment Area

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ORDINANCE NO. 52-68 i~f~srs. Graber, Huffman, Kelley, Usher, Ward, Wemdling, Gaydos AN ORDI~ANCE authorizing the sale of property located in The Sloane Avenue Redevelopment Area Urban Renewal Project for development in accordance with the Urban Renewal Plan adopted for said area, determining that such real property will not be needed for public use, determining that the proposed agreement and pro- posed purchase price are satisfactory and determining that the redeveloper possesses the qualifications and financial resources necessary to acquire and develop the real property in accordance with the Urban Renewal Plan and declaring an emergency. WHEREAS, An Urban Renewal Plan for the Sloane Avenue Redevelop- ment Area Urban Renewal Project was adopted by the Council of the City of Lakewood, Ohio, by Ordinance No. 2-68, on the 5th day of February, 1968, and, ~HEREAS, For the purpose of eliminating the conditions of slum and blight determined to exist in the Project Area covered by said Urban Renewal Plan by the City Council in said ordinance, the real property hereinafter described, which is located within said Project Area, has been or will be acquired and cleared by the City; and WHEREAS, For the purpose of preventing the recurrence of said conditions of slum and blight, the real property hereinafter de- scribed is to be sold and conveyed to private interests with restrictions for redevelopment in accordance with the aforesaid Urban Renewal Plan, (hereinafter referred to as the "Urban Renewal Plan"); and WHEREAS, The Mayor has recommended and approved the disposal of the following described real property for private use by private negotiation as being the best means of accomplishing title convey- ance and construction of improvements in order to carry out the aforesaid purpose of preventing the recurrence of said conditions of slum and blight; and WHEREAS, The ~1ayor has entered into negotiations with Bonne Bell, Inc., (hereinafter referred to as the "Redeveloper") for the disposal of the following described real property; now, therefore BE IT ORDAINED BY THE COUNCIL OF THE CITYOF LAKEWOOD, STATE OF OHIO: Section 1. That this Council hereby finds and determines that the real property hereinafter described, located within the aforesaid Project Area, after its acquisition will not be needed for public use since continued public ownership thereof will not be necessary to the carrying ~out of the purpose of eliminating conditions of slum and blight~ and, further, since the sale thereof is necessary to the carryin~ out of the. purpose of preventing the recurrence of the conditions bf slum and blight.