52-68 Sell property located in Sloane Ave Redevelopment Area

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-3- of land conveyed to Lois L. Mintz, by deed dated July 8, 1961~ and recorded in Volume 10174~ Page 61 of Cuyahoga County Records, said point being the principal place of beginning and 12.38 feet westerly along said northerly tine from the westerly line of Sloane Avenue (70 feet w~de), said point being also 47.38 fee~ left of Station 1 plus 33.00 feet on the centerline of a survey made in 1965, by the Department of Highways, of Sloane Avenue (70 feet wide), as aforesaid; thence southwesterly along the arc of a curve having a radius of 88.00 feet, a distance of 90.99 feet to a point in the southerly line of land so conveyed to Lois L. ~intz, said point being 30.00 feet left of Station 7 plus 95.96 feet on the centerline of a survey made in 1965, by the Department of Highways, of the Right of Way of the Detroit Avenue Bridge (70 feet wide); thence westerly along said southerly line to a point in the westerly line of land conveyed to Lois L. Mintz, said point being 30.00 feet left of Station 7 plus 93.96-feet on the centerline of the Right of Way of the Detroit Avenue Bridge (70 feet wide); thence northeasterly along said Westerly line 43.00 feet to the northwesterly corner thereof; thence southeasterly along the northerly line of Sublots 50 and 51, a distance of 77.62 feet to the place of beginning. Section 3. That this Council hereby finds and determines that it is necessary and proper that the Mayor be and he is hereby auth- orized to sell the above described real property to the Redeveloper upon the terms and conditions contained in the "Contract for Disposition. of Land for Private~Redevelopment" as set forth in Exhibit "A", a copy of which is attached hereto as Exhibit "A" (hereinafter referred to as the "Project Agreement"), which Project Agreement this Council hereby finds and determines to be satisfactory and hereby approves. The ~ayor is hereby authorized and directed to execute said Project Agreement on behalf of the City of Lakewood and the Mayor is further hereby authorized and directed to execute such deed or deeds on behalf of the City of Lakewood as are necessary to satisfy the City's obligations under said Project Agreement at the time or times specified therein and to do all other things that are necessary to consummate said sale. This Council hereby determines that the disposal of the above described land by negotiation is the appropriate method of making such land available for redevelopment. Section 4. That this Council hereby finds and determines that the Redeveloper possesses the qualifications and financial re- sources necessary to acquire and develop the above described real property in accordance with the Urban Renewal Plan. Section 5. That this Council hereby finds and determines that the purchase price as set forth in said Project Agreement is satisfactory and not less than the fair value of said real property for uses in accordance with said Urban Renewal Plan. Section 6. That this ordinance is hereby declared to be an emergency measure necessary for the immediate preservation of the public peace, health and safety for the reason that it is immediate- ly necessary to authorize the actions 'herein to expedite the carry- ing out of the Sloane Avenue Redevelopment Area Urban Renewal Project in order to prevent the recurrence of the eliminated blight- ed, deteriorated and deteriorating conditions of the aforesaid