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<br />PLACED ON 1st Reading & REFERRED <br />to HOUSING COMMITTEE 3/20/95. <br />. PLACED ON 2nd Reading on 4/17/95. <br />ORDINANCE NO. 43-95 BY: \ BoscIa, Flannery, George, <br />Gibbons, Roth, Seelie, Smith <br />AN EMERGENCY ORDINANCE authorizing the Mayor, on behalf of <br />the Ci ty, to enter into agreements wi th the Cuyahoga Housi ng <br />Consortium and various lending institutions and individuals <br />participating in the Lakewood HOME program. <br /> <br />WHEREAS. the Cuyahoga Housi ng Consort; urn (Consort; urn) has <br />been designated ,by the U.S. Department of Housing and Urban <br />Development (HUD) as a grantee of funds under HUD's HOME <br />Investment Partnership Programj and <br /> <br />WHEREAS, the City is a member of the Consortium and as such <br />has been granted funds to assist eligible homebuyers; and <br /> <br />WHEREAS, the City has developed the Lakewood HqME program <br />(the program) to develop arid support home ownershi"p.t' äf'lordabi 1 i ty <br />within the City among eligible homebuyer~j and <br /> <br />WHEREAS, in order to implement the program, the City must <br />enter into agreements with the Consortium, various lénding <br />institutions. and eligible borrowers; and <br /> <br />WHEREAS, the program will not require the appropriation of <br />additional City funds or the hiring of additional employees; and <br /> <br />WHEREASJ this ordinance constitutes an emergency meâsure <br />providing for the immediate preservation of the public "'Ii'ealth, <br />safety, and welfare for the reason that home ownership is an <br />investment in the Ci ty whi ch pr-Qrnotes greater care and <br />maintenance of the housing ~fock there~¥ stabilizing the <br />community and improving the quality of life within the City; now. <br />therefore! <br /> <br />BE IT OROAINED BY THE CITY OF LAKEWOOO, STATE OF OHIO <br /> <br />Section 1. That the Mayor, on behalf of the City! is <br />hereby authorized and directed to ehter into agreement~~with the <br />Cuyahoga Housi ng Consorti urn, vari DUS 1 endi ng i nsti tot'i:çtns. and <br />eligible borrowers to impl~~ént the City of Lakewood HOME <br />Program; said agreements to ~e substantially in form similar to <br />those set forth in attached Ëxhibits A. B. and C. and to contain <br />such other terms and conditiQh~ as deemed necessary by the <br />Di rector of Law to protect' the pu.i:>Ji co: interest. <br /> <br />Secti on 2. It is found and 'tIetermi ned that all formal <br />actions of this Council ~oncerning and ~elating to the passage of <br />thi 5 ordi nanee were adopted in an openltteeti ng of thi s Counci 1. <br />and th,9t all such del i berati on of the Couhci 1 and of any of its <br />commit'tees that resulted in such formal action were in meetings <br />opén to the public in compliance with ~ll legal requirements. <br /> <br />Section 3. That this ordinance is hereby declared to be <br />an emer,gency measure f,or the reasons stated in the preambl e <br />her~of and provid~d it receives the affirmative vote of <br />twq~\~,1,,_r;,d¿~ _ of all _ members el ected to Counci 1 J it shall take <br />ef~~Rfß;~hd~e in force immediately upon its adoption and approval <br />bY:,~:g:e">:_:f¡têi__¥Qr; otherwi 5e, it shall take effect and be in force <br />af1£,er~:'~tJ)4E/)!'é!rliest pgriod allowed by law. <br /> <br />Adopteqi! /1¿¡~ J) J'Jt!j <br /> <br />JJIku ðosu: <br />President <br /> <br />..%~ 4. ~fA <br />Cl erk - <br /> <br />APproved}¡1~ ') J 1'1. ý5 <br /> <br />