42-90 Agreement w/ Drugmart to purchase property

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Please SUBSTITU~ FOR ORDINANCE 42-90 PLACED ON FIRST READ on 4/16/90; and on SECOND READING on 5/7/90. ORDINANCE NO. 42-90 BY:Boscia, Gallagher, George, Gibbons, Roth, Seelie, Smith AN EMERGENCY ORDINANCE authorizing and directing the Mayor, on beh~alf of the City of Lakewood, to enter into an Agreement. with Discount Drug Mart, Inc. for the purchase, trade and sale of certain propertieS located at 11900 Detroit Avenue (Permanent Parcel No. 312- 33-8, 9 & 29) and 11836 Detroit Avenue (Permanent Parcel No. 312-33- 01). WHEREAS, Council has determined that it is in the best interest of the City to purchase, sell and redivide the portion of said property fully described in the drawing attached hereto as Exhibit "A" and legal descriptions attached hereto as Exhibits "Bi" and "B2", incorporated by reference herein. WHEREAS, provisions regarding real property transactions are contained in Chapter 155 of the Codified Ordinances of the City of Lakewood and Section 155.07 provides that specific procedures may be established for the sale or disposition of particular real estate or interest therein, and WHEREAS, the property to be conveyed according to the letter proposal attached hereto is uniquely sitUated so that its use by the proposed buyer is superior to any possible public use and there is no other likely buyer for the property, and WHEREAS, the property to be traded and/or purchased well suited to the parking needs of its neighborhood, and is WHEREAS, the Memorandum of Understanding attached hereto as Exhibit "C" constitutes the conclusion of an arms length transaction between representatives of the City and Discount Drug Mart, Inc. and such transaction is in the interest of all of the citizens of this community, and WHEREAS, this ordinance constitutes an emergency measure providing for the immediate preservation of the Public health, safety and welfare as delay could cause the City to lose an entire construc- tion season, extensive tax revenues and the benefits of expanded public parking; now, therefore, BE IT ORDAINED BY THE CITY OF LAKEWOOD, STATE OF OHIO: Section 1. That the Mayor on behalf of the City of Lake- wood, be and he is hereby authorized and directed to enter into an Agreement for the trading, purchase and sale of the property located at 11900 Detroit Avenue and 11836 Detroit Avenue as described in Exhibit "A", "Bi" and "B"2" attached hereto and incorporated by reference herein, said Agreement to conform to terms set forth in the Memorandum of Understanding Exhibit "C" made a part hereof as if fully rewritten herein, with such additional provisions as are ac- ceptable to the director of Law to protect the public interest. Section 2. That pursuant to the conditions of the afore- mentioned Agreement, Council hereby formally approves the trade, purchase and sale of said property hereinabove described and the terms and conditions set forth in the Memorandum of Understanding and approves and ratifies the actions of this Mayor as of this date and authorizes the Acting Director of Finance or Finance Director to expend the necessary funds to complete these transactions. Section 3. Council hereby determines that the uniqueness of the property and the special conditions relating thereto form a basis for establishing this negotiated procedure for the purchase, trade and sale of said property in accordance with Section 155.07 of the Administrative Code of the Codified Ordinances of the City of Lakewood.