86-85 Downtown Redevelopment Project

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ORDINANCE N0.86-85 iBY: Brown, Chinnock, Gallagher, Graham, McBride, Salmon AN EMERGENCY ORDINANCE authorizing and directing the Mayor for and on behalf of the City of Lakewood to enter into a Preliminary Cooperation Agreement between the-~i-'~y and the Austin E. Knowlton Company relating to the City's Downtown Redevelopment Project. WHEREAS, the City is currently involved in the redevelopment of the downtown area located at Detroit Avenue and Warren Road and known as the Downtown Redevelopment Project, for which Project the firm of Laventhol and Horwath is serving as consulting financial negotiators for the City, and WHEREAS, by way of response to 'the proposal of the Austin E. Knowlt0n Co., said consultants have recommended that certain changes be made to the originally proposed Preliminary Development Agreement to be entered into between the City and the Austin E. Knowlton Co. to formulate the mutual understandings of the parties prior to the negotiation of the final Development Agreement, and WHEREAS, Council determines it to be in the best interest of the City to enter into the newly proposed Preliminary Agreement, and WHEREAS, this ordinance constitues an emergency measure providing for the immediate preservation of the public health and welfare; now, therefore, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF LAKEWOOD, STATE OF 0HI0: Section 1. That the Mayor be and he is hereby authorized and directed, for and on behalf of the City of Lakewood, to enter into a Preliminary Cooperation Agreement between the City and the Austin E. Knowlton Company, said agreement to be substantially in the form as set forth in Exhibit "A" attached hereto and made a part hereof. Section 2. It is found and determined that all formal actions of this Council concerning and. relating to the passage of this ordinance were adopted in an open meeting of this Council, and that all such deliberations of this Council and any of its committee's that resulted in such formal action were in meetings open to the public in compliance with all legal requirements including Section 121.22 of the Ohio Revised Code. 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 of Council, it shall take effect and be in force immediately upon its adoption and approval by the Mayor; otherwise it shall take effect and be in force after the earliest period allowed by law. Adopted: ~/~~ I~ Iq ~'~_ ~'~~ ~ -- - ' PRESIDENT - ' ~