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<br />EXHIBIT A <br /> <br /> <br />12650 Detroit Avenue . Lakewood, Ohio 44107 . (216) 521-7580 . (216) 228-2514 FAX <br /> <br />DEVELOPMENT AGREEMENT <br /> <br />THIS DEVELOPMENT AGREEMENT (the "Agreement") is entered into as of this ~ day of <br />2004 by and between the CITY OF LAKEWOOD (the "City"), an Ohio municipal corporation, <br />and Phil Vedda & Sons, Inc. an Ohio for-profit corporation ("Vedda"). <br /> <br />WITNES SETH: <br /> <br />A. WHEREAS, the City desires to have certain property within its corporate limits redeveloped <br />by Yedda in the vicinity of Berea Road, specifically Cuyahoga County Auditor's, Pennanent Parcel Number <br />315-25-007 located at 12000 Berea Road, Lakewood, Ohio (the "Project Site"); and <br /> <br />B. WHEREAS, pursuant to the Lakewood Community Vision, and the Berea Road, West 117th <br />Street Study, Berea Road is recommended to be maintained and strengthened as an important industrial <br />corridor within the City of Lake wood; and <br /> <br />C. WHEREAS it is in the public interest to see that Yedda is retained and expanded in <br />Lakewood thereby ensuring the conversion of this vacant site to an economically viable and tax generating <br />use; and <br /> <br />D. WHEREAS, the City, by Resolution No. 7803-03, adopted September 3, 2003, authorized a <br />Phase I/II Enviroumental and Geotechnical Assessment of the Project Site that determined the need for <br />varipus site improvements prior. to the expansion and construction by Vedda of a new printing facility at the <br />Proj ect Site; and <br /> <br />E. WHEREAS, the City intends to perfonn the necessary Site Preparation of the property <br />utilizing Tax Increment Financing (TIP) and the Economic Development Fund (EDF) as authorized by <br />Ordinance No. and Ordinance No. _ adopted by City Council on ; and <br /> <br />F. WHEREAS, pursuant to Ordinance No. adopted by Lakewood City Council on <br />, Lalœwood City Council authorizes the City to enter into a Development Agreement with <br /> <br />Vedda; and <br /> <br />G. WHEREAS, the City and Vedda desire to enter into this Agreement to set forth their <br />agreement as to their respective rights and obligations with respect to the Project. <br /> <br />1 <br />