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PLACED ON 1ST READING & REFERRED TO THE
<br />COMMITTEE OF THE WHOLE 3/3/03.
<br />SECOND READING 3/17/03.
<br />
<br />ORDINANCE NO:
<br />
<br />14-03
<br />
<br />BY: Corrigan, Dever, Dunn, FitzGerald,
<br />George, Roth, Seelie. ~.
<br />
<br /> AN EMERGENCY ORDINANCE authorizing the Mayor or her designee to enter into an
<br /> agreement with the Winking Lizard, Inc., d.b.a, the Winking Lizard Tavern and Restaurant, James
<br /> Callam, Managing Partner, for participation in the Lakewood Business Investment Program (BIP) of
<br /> the Economic Development Fund (EDF) for a five (S) year forgivable loan in an amount of Fifteen
<br /> Thousand Dollars ($15,000.00).
<br />
<br /> WHEREAS, as an authorized use of the City of Lakewood's entitlement allocation of federal
<br /> Community Development Block Grant dollars, the EDF was established and approved by Lakewood
<br /> City Council on December 2, 1996 in order to promote business investment and redevelopment in
<br /> Lakewood for the purpose of supporting Lakewood's competitiveness and attractiveness as a
<br /> location for new businesses and the expansion of existing businesses; and
<br />
<br /> WHEREAS, the BIP was established and approved by Lakewood City Council on June 2,
<br /> :1997 as a means for implementing the EDF in order to provide needed and appropriate assistance
<br /> and support to companies investing in Lakewood that would foster redevelopment efforts to
<br /> increase jobs, generate new tax revenue and provide for physical improvements in Lakewood; and
<br />
<br /> WHEREAS, the Winking Lizard, Inc., d.b.a, the Winking Lizard Tavern and Restaurant,
<br /> James Callam, Managing Partner, has applied for a loan under the BIP in order to complete a
<br /> financial package to support a significant planned capital investment in the purchase and
<br /> restoration of the former Elks Lodge located at 140:18 Detroit Avenue, Lakewood, Ohio; and
<br />
<br /> WHEREAS, after nearly two (2) years of effort, the City of Lakewood was successful in
<br />facilitating the sale of the former Elks Lodge as the Winking Lizard, Inc., d.b.a, the Winking Lizard
<br />Tavern and Restaurant, James Callam, Managing Partner, ultimately purchased the building in
<br />January 2003 with plans to completely rehabilitate the building and convert the property to a full-
<br />service restaurant, including a banquet room; and
<br />
<br /> WHEREAS, this application by the Winking Lizard, Inc., d.b.a, the Winking Lizard Tavern
<br />and Restaurant, James Callam, Managing Partner, meets and exceeds the General Assistance
<br />Guidelines of the BIP; and
<br />
<br /> WHEREAS, the Economic Development Committee convened on February :19, 2003 and,
<br />reviewed, and unanimously approved recommendation of the BIP application by the Winking
<br />Lizard, Inc., d.b.a, the Winking Lizard Tavern and Restaurant, James Ca,am, Managing Partner;
<br />and
<br />
<br /> WHEREAS, an Agreement pursuant to Section II - Basic Criteria of the BIP General
<br />Assistance Guidelines will be executed by the Winking Lizard, Inc., d.b.a, the Winking Lizard
<br />Tavern and Restaurant, James Callam, Managing.Partner, wherein the Winking Lizard, Inc., d.b.a.
<br />the Winking Lizard Tavern and Restaurant, James Callam, Managing Partner, agrees to the initial
<br />job creation of twenty (20) full-time employees, in accordance with such Agreement, the Winking
<br />Lizard, Inc:, d.b.a, the Winking Lizard Tavern and Restaurant, James Callam, Managing Partner,
<br />has purchased the property at :140:18 Detroit Avenue and is prepared to keep the business in
<br />Lakewood for five (.5) years; and
<br />
<br /> WHEREAS, in order to enter into loan agreements under the BIP with the Winking Lizard,
<br />Inc., d.b.a, the Winking Lizard Tavern and Restaurant, James Callam, Managing Partner,
<br />Lakewood City Council must grant authority for the City to enter into such agreements; and
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