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ORDINANCE , 67-79 <br /> <br />BY: Wendling, Brockman, <br /> Brown, Chinnock, McNall <br /> Salmon <br /> <br /> AN EMERGENCY ORDINANCE authorizing the Director of Finance to <br />transfer the sum of $300,000 from the 1979 Community Development <br />Block Grant Fund to the Community Development Corporation of Lakewood, <br />Ohio for the purpose of purchasing certain property as set forth in <br />Ordinance 11-79 to implement the Lakewood Town Center Plan aC the <br />time the members and the trustees of the Community DevelOpment Cor- <br />poration approve a contract with the developer for Phase I of said plan. <br /> <br /> WHEREAS, on the 1st day of August, 1979 the U.S. Department of <br />Housing and Urban Development officially approved the request of the <br />City of Lakewood to implement the Lakewood~'Town Center Plan and also <br />authorized funds in the amount of $300,000 to carry out such a program, <br />and <br /> <br /> WHEREAS, this Council did, pursuant to Resolution 5224 adopted <br />May 2, 1977, authorized the formation of a non-profit corporation to <br />administer a Low Interest Home Improvement Loan Program to advance, <br />encourage and promote the residential rehabilitation of Lakewood's <br />older housing stock, and <br /> <br /> WHEREAS, such non-profit corporation, known as the Community <br />Development Corporation of Lakewood, Ohio, was duly formed on the 18th <br />day of May, !977, and <br /> <br /> WHEREAS, the Council of the City of Lakewood appropriated the sum <br />of $300,000 from the 1979 Community Development Block Grant Fund to <br />implement the Lakewood Town Center Plan. <br /> <br /> WHEREAS, it is necessary in order to implement said pla'n to <br />have the funds transferred to the Community Development Corporation <br />of Lakewood, Ohio, and <br /> <br /> WHEREAS, this Ordinance constitutes an emergency measure providing <br />for the immediate preservation of the public health, safety and welfare <br />and for the usual daily operation of a munic'pal department and to <br />implement the Lakewood Town Center Plan without delay, therefore, <br /> <br /> BE IT ORDAINED BY THE COUNCIL OF THE CITY OF LAKEWOOD, STATE OF <br />OHIO: <br /> <br /> Section. 1. That the Council of the City of Lakewood does hereby <br />approve the concept and organization of the Community Development Cor- <br />poration of Lakewood, Ohio as the vehicle through which the Town Center <br />Plan can be implemented. <br /> <br /> 2. That the Director of Finance be and he is hereby authorized <br />to transfer the sum of Three Hundred Thousand Dollars ($300,000) from <br />the 1979 Community Development Bl c~k Grant Fund to the Community <br />Development Corporation of Lakewood, Ohio for the purpose of pur- <br />chasing certain property as set forth in Ordinance 11-79 to implement <br />the Lakewood Town Center Plan at the time the members and the trustees <br />of the Community Development Corporation approve a contract with the <br />developer for Phase 1 of said plan. <br /> <br /> Section 3. That this Ordinance is hereby declared to be an <br />emergency measure for the reasons stated in the preamble hereof <br />and provided it receives the affirmative vote of two-thirds of all <br />members elected to Council, it shall take effect and be in force <br />immediately upon its adoption and approval by the Mayor; otherwise <br />it shall take effect and be in. force from and after the earliest <br />period allowed by law. <br /> <br />Adopted: ~Z~ // <br /> <br />Appr°ved: L//~4"~' ~ ~/?~/~ 7~ <br /> <br /> <br />