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ORDIN~CE NO. 22 - 99 <br /> <br /> PLACED ON 1st READING ~ REFERRED to <br /> CO~DItTTEE OF THE WHOLE 4/19/199~ <br />Placed on 2nd Reading 5/5/99. <br /> BY: Corrigan, FitzGerald, George, <br />Roth, Seelie, Skindell, Smith <br /> <br /> An Emergency Ordinance authorizing the Mayor ('Director of Public Safety) or the Director of <br />Public Works, on behalf of the City of Lakewood. to enter into agreements with New York Life <br />Insurance Company (New York Life) to provide economic incentives in the form of parking rate <br />discounts for the purpose of retaining jobs and tax revenue in Lakewood. Ohio. <br /> <br />Whereas. New York Life is currently the seventh (7a) largest employer in Lakewood. Ohio; <br /> <br /> WHERE.. New York Life presendy has offices in Lakewood Center North and has negotiated <br />terms for a lease renewal of a period of ten (I0) years; <br /> <br /> WItEltE~, New York Life has requested economic assistance in the form of parking rate <br />incentives in the City's downtown municipal lots in order to remain in Lakewood as a financially <br />viable option; <br /> <br />WHEREAS, the City and New York Life have negotiated terms for such parking rate incentives: <br /> <br /> WI-aiREAS, New York Life has agreed to execute the currently negotiated lease renewal to <br />remain in Lakewood Center North if the parking rate incentives are approved by this Council in the <br />form as substantially negotiated; <br /> <br /> WHEREAS, in order to enter into agreements with New York Life, Lakewood City Council must <br />grant authority for the City to enter into such agreements; and <br /> <br /> WmmUAS, this ordinance ~onstimtes an emergency measure providing for the immediate <br />preservation of the public health, safety, and welfare for the reason that financial assistance provided <br />under this ordinance is an investment in the City which promotes business, retains jobs, preserves tax <br />revenues and provides for physical improvements, thereby stabilizing the community and improving <br />the quality of life within the City;, now, therefore, <br /> <br />BE IT ORDAINED BY THE CITY OF LAKEWOOD, STATE OF OH/O <br /> <br /> Section 1. That the Mayor (Director of Public Safety) or the Director of Public Works. on <br />behalf of the City, is hereby authorized and directed to enter into agreements with New York Life to <br />provide economic incentives in the form of parking rate discounts in the City's downtown municipal <br />lots for the purpose of retaining jobs and tax revenue; said agreements to contain such terms and <br />conditions as deemed necessary by the Director of Law to protect the public interest. <br /> <br /> Section 2. k is found and determined that all formal actions of this Council concerning and <br />relating to the passage of this ordinance were adopted in an open meeting of this Council, and that ail <br />such deliberation of the Council and of any of its committees that resulted in such formal action were <br />in meetings open to the public in compliance with ail legal requirements. <br /> <br />Adopted: <br /> <br /> Section 3. That this ordinance is hereby declared to be an emergency measure for the <br />reasons stated in the preamble hereof and provided it receives the affirmative vote of two-thin:Is of ail <br />members elected to Council, it shall take effect and be in force after the earliest period allowed by law. <br /> <br /> / <br /> <br /> <br />