75-78 Transfer funds for storefront renovation program

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ORDINANCE NO. 75-78 BY: Wendling, Brockman, Brown, Magnotto, ttcBr ide, Salmon AN EMERGENCY ORDINANCE authorizing the Director of Fi'nance to transfer the sum of $370,000 from the 1978 Community Development Block Grant Fund to the Community Development Corporation of Lakewood, Ohio for the purpose of implementing and administering the Storefront Renovation Program. WHEREAS, on the 23rd day of July, 1978 the U.S. Department of HOusing and Urban Development officially approved the request of the City of L~kewood to establish a Storefront Renovation Program and also authorized funds in the amount of $370,000 to carry out such program, and WHEREAS, this Cobncil did, pursuant to Resolution 5224 adopted May 2, 1977~ authorize the formation of a non-profit corporation to administer a Low Interest Home Improvement Loan program to advance, encourage and promote the residential rehabilitation of Lakewood's older housing stock, and to further encourage commercial development in the City of Lakewood, and WHEREAS, such non-profit corporation, known as the Community Development Corporation of Lakewood, Ohio, was duly formed on the 18th day of May, 1977, and WHEREAS, the Council of the City of Lakewood appropriated the sum of $370,000 from the 1978 Community Development Block Grant Funds to carry out the Storefront Renovation Program,.and WHEREAS, it is necessary for the implementation of the Storefront Renovation Program to have the funds transferred to the Community Development Corporation of Lakewood, Ohio, and WHEREAS, this Ordinance constitutes an emergency measure providing for the immediate preservation of the public health, safety and welfare and for the usual daily operation of a municipal department and for the reason that the Storefront Renovation Program gets underway without delay; now, therefore, '~'. BE IT ORDAINED BY THE COUNCIL OF THE CITY OF LAKEWOOD, STATE OF OHIO: Section 1. That the Council of the City of Lakewood does hereby approve the concept, organization and administrative guidelines of the Community Development Corporation of Lakewood, Ohio as the vehicle through which the Storefront Renovation Program be implemented and carried out. Section 2. That the Director of Finance be and he is hereby authorized to transfer the sum of Three Hundred Seventy Thousand Dollars ($370,000) from the 1978 Community Development Block Grant Fund to the Community Development Corporation of Lakewood, Ohio for the purpose of implementing and administering the Storefront Renovation Program. Section 3. That th~s Ordinance is hereby declared to be an emergency measure for the reasons stated in the preamble hereof and provided it receives the affirmative vote of two-thirds of all members elected to Council, it shall take effect and be i~ force immediately upon its adoption and approval by the Mayor; otherwise it shall take effect and be in force from and after the earliest period allowed by law.