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PLEASE SUBSTITUTE FOR ORDINANCE N0. 64-08 <br />PLACED ON 15T READING & REFERED TO THE FINANCE COMMIT-fEE <br />6/16/08. <br />ORDINANCE N0. 64-08 <br />BY: Antonio, Bullock, ~gylgp, Dever, <br />Madigan, Powers, Summers <br />AN ORDINANCE to permit the purchase of real property for an amount not to <br />exceed $60,000 without advertising and competitive bidding or specific approval of <br />Council as required. by Lakewood Codified Ordinance §111.04 for a period of three years <br />from the effective date of this legislation. <br />WHEREAS, housing is the most significant driver of economic development in the <br />City of Lakewood; and <br />WHEREAS, the City wants to defend against the unscrupulous use of deteriorated <br />properties; and <br />WHEREAS, properties could be purchased and either be rehabbed or raised and <br />used for park space. or assembled for future development. Now, therefore <br />BE IT ORDAINED BY THE CITY OF LAKEWOOD, STATE OF OHIO <br />Section 1. That the Mayor of the City of Lakewood is hereby authorized to <br />purchase real property on behalf of the City of Lakewood without advertising or <br />competitive bidding or specific approval of Council as required by Lakewood Codified <br />Ordinance §111.04. <br />Section 2. Each individual transaction for the purchase of real properly shall <br />not exceed $60,000. <br />Section 3. This authority shall expire three years from the effective date of <br />this ordinance. <br />Section 4. It is found and determined that all formal actions of this Council <br />concerning and relating to the passage of this ordinance were adopted in an open <br />meeting of this Council, and that all such deliberation of the Council and of any of its <br />