65-79 Transfer funds for Storefront Renovation Prog

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ORDINANCE NO. 65-79 Brown, Chinnock, McNally, Salmon, Wendling, Brockman AN EMERGENCY ORDINANCE authorizing the Director of Finance to transfer the sum of $400,000 from the 1979 Community Development Block Grant Fund to the Community Development Corpor- ation of Lakewood, Ohio for the purpose of implementing and admin- istering the Storefront Renovation Program.'~' ~' WHEREAS, on the ls~ day of August-, 1979 the U~S. Department of Housing and Urban Development officially approved the request of the City of~ Lakewood to establish a Storefront Renovation Program and also authorized funds in the amount of $400,000 to carry out such program, and WHEREAS, this Council 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 rehabili- tation 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 $400,000 from the 1979 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 can be continued 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 can be continued. Section 2. That the Director of Finance be and he is hereby authorized to transfer the sum of Four Hundred Thousand Dollars ($400,000) from the 1979 Community Development Block Grant Fund to the Community DevelOpment Corporation of Lakewood, Ohio for the purpose of operating and administering the Storefront Renovation Program. Section 3. That this 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 effec% and be in force immediately upon its adoption and approval by the Mayor; otherwise it shall take effect and be in force allowed by law. Ad op ted: ~~-.-~ //~, /, f Z7 from and af. ter the earliest period ' ~ Pre~t U / v / Mayor