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Placed on 15t reading & referred to the <br />Finance Committee 9/8/10, SUBSTITUED & 2ND Reading 9/20/10.. <br />Resolution No. 8442-10 By: Antonio, sullocx, sutler, <br />Madigan, Bowers, Smith, Summers. <br />A RESOLUTION to take effect immediately provided it received the affirmative vote <br />of at least five (5) members elected to Council, otherwise, it shall take effect and be in force after <br />the earliest period allowed by law to report the action of the Tax Incentive Review Council (the <br />"TIRC") meeting of August 26, 2010 pursuant to Ordinance 47-04, adopted June 4, 2004 and <br />Section 5709.85 of the Ohio Revised Code regarding the city's TIF districts. <br />WHEREAS, this Council by a vote of at least five (5) members elected hereto <br />determines that this Resolution is an emergency measure, and that this Resolution shall take effect <br />at the earliest date possible as set forth in ARTICLE III, SECTIONS 10 AND 13 of the SECOND <br />AMENDED CHARTER OF THE CITY OF LAKEWOOD, and is necessary for the immediate <br />preservation of the public property, health and safety, and to comply with the regulations of the Tax <br />Incentive Review Council. Now Therefore, <br />BE IT RESOLVED BY THE CITY OF LAKEWOOD, STATE OF OHIO: <br />Section 1. That the Tax Incentive Review Council at their meeting of August 26, <br />2010 unanimously agreed that the City of Lakewood is in compliance with the spirit of the Tax <br />Increment Financing ("TIF") agreement for the TIF projects and to continue the TIF for Rockport <br />Square and Vedda Printing. <br />Section 2. That this Resolution shall take effect and be in force immediately upon <br />its adoption and approval by the Mayor at the earliest period allowed by law. <br />Section 3. This Resolution is hereby declared to be an emergency measure <br />necessary for the immediate preservation of the public peace, property, health, safety and welfare <br />in the City of Lakewood and for the usual daily operation of the City for the reasons set forth and <br />defined in the preamble of this Resolution, and provided it receives the affirmative vote of at least <br />five (5) of its members elected to Council, this Resolution shall take effect and be in force <br />immediately upon its adoption by the Council and approval by the Mayor; otherwise it shall take <br />effect and be in force after the earliest period allowed by law. <br />Adopted: /~s s'~~ /~ ~ d~y <br />Approved: ~ ~~I ! y <br />Substitute 8442-10 9/20/2010 <br />President <br />