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Resolution No: 7573-01 By: Corrigan, FitzGerald, George, Roth Seelie, Skindell, Smith. AN EMERGENCY RESOLUTION expressing the acceptance and approval by the Lakewood City Council of recommended new guidelines for uUIization by the Loan Approval Board in operating an enhanced storefront renovation program and changing the name of the program, hereinafter referred to as the Commercial Property Revitalization (CPR) Program. WHEREAS, the City of Lakewood has funded (through federal Community Development Block Grant Dollars) and operated a storefront renovation program through its Loan Approval Board since 1978; and WHEREAS, the Cityrs Loan Approval Board and the Citizens Advisory Committee have recommended new guidelines in order to introduce increased financial incentives and greater flexibility into the operation of this program; and WHEREAS, such incentives and increased flexibility within this program will encourage greater utilization of the Commercial Property Revitalization (CPR) Program; and WHEREAS, a greater utilization of the Commercial Property Revitalization (CPR) Program will also result in increased private investment within Lakewood commercial districts; and WHEREAS, this Council by a vote of at least five (5) members elected hereto determines that this Resolution is an emergency measure, and that this Resolution shall take effect at the earliest date possible as set forth in ARTICLE III, SECTIONS 10 and 13 of the SECOND AMENDED CHARTER OF THE CITY OF LAKEWOOD, and is necessary to allow Lakewood commercial businesses and property owners to take advantage of the Commercial Property Revitalization (CPR) Program in this year's construction season; now, therefore, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF LAKEWOOD, STATE OF OHIO, Section 1. The Council of the City of Lakewood hereby approves and accepts the new guidelines for the Commercial Property RevitalizaUon (CPR) Program as submitted by the Department of Planning and Development and described in EXHIBi-F A attached hereto and as further accepted and approved by the City's Loan Approval Board on Nay 9, 2001 and the Citizens Advisory Committee of Lakewood, Ohio at a special public hearing held on .luly 10, 2001. Said new guidelines, as described in EXHTB1T A, shall supplement the existing storefront renovation program guidelines and be incorporated into the Division of Community Development's Commercial Property RevitalizaUon (CPR) Program Administrative Guidelines. Section 2. The Council of the City of Lakewood hereby authorizes the Loan Approval Board to remain the official board for all final decisions regarding the various loans and grants to be approved for the Commercial Property Revitalization (CPR) Program. Section 3. It is found and determined that all formal actions of this Council concerning and relating.to the passage of this Resolution were adopted in an open meeting of this Council, and that all such deliberations of this Council and any of its committees that resulted in such formal actions, were in meetings open to the public in compliance with all legal requirements; Section 4. This ResoluUon is hereby declared to be an emergency measure for the reasons set forth and defined in the preamble of this Resolution, and provided it receives the affirmative vote of at least five (5) of its members elected to Council, this Resolution shall take effect and be in force immediately upon its adoption by the Council and approval by the Mayor. Page 1 of 2