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WHEREAS, in order to enter into loan agreements under the BIP with Wholesome <br />Development, LLC, Lakewood City Council must grant authority for the City to enter into such <br />agreements. NOW, THEREFORE, <br />BE IT ORDAINED BY THE CITY OF LAKEWOOD, STATE OF OHIO: <br />Section 1. That the Mayor or his designee is hereby authorized and directed to enter into <br />an agreement with Wholesome Development, LLC or its designee for participation in the Lakewood <br />Business Investment Program (BIP) of the Economic Development Fund (EDF) for a five (5) year <br />loan in an amount of One-Hundred Thousand Dollars ($100,000.00) toward the redevelopment of <br />the property located at 15000 Detroit Avenue, Lakewood, Ohio (Permanent Parcel 312-14-116) in <br />compliance with and under the terms of the Business Investment Program of the Economic <br />Development Fund; said agreements to contain such terms and conditions as deemed necessary <br />by the Director of Law to protect the public interest. <br />Section 2. It is found and determined that all formal actions of this Council concerning <br />and relating to the passage of this Ordinance were adopted in an open meeting of this Council, <br />and that all such deliberations of this Council and any of its committees that resulted in such <br />formal actions, were in meetings open to the public in compliance with all legal requirements. <br />Adopted: ~~?it'~.~~c. ~~ ~Gd, <br />President <br />Clerk of Coun ' <br />Approved `' ?~a.-o2 a'~-~ <br />Mayor <br />