8516-11 Accept funds for use in Neighborhood Stabilization III Area

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RESOLUTION NO. 8516-11 BY: Anderson, Bullock, Juris, Madigan, Nowlin, Powers, Smith. A RESOLUTION to take effect immediately provided it received the affirmative vote of at least five (5) members of Council or otherwise, it shall take effect and be in force after the earliest period allowed by law, authorizing the Mayor or his designee, on behalf of the City, to enter into an Agreement with Cuyahoga County to accept funds in the amount of $250,000 allowing the City of Lakewood to purchase and rehabilitate homes in the Neighborhood Stabilization III area. WHEREAS, these funds will facilitate the acquisition, rehabilitation and sale of at least three (3) homes within the target area; and WHEREAS, Cuyahoga County was awarded Neighborhood Stabilization Funds earlier this year in an effort to combat the negative impact of foreclosures; and WHEREAS, this Council by a vote of at least five (5) members elected thereto 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 that it is necessary for the immediate preservation of the public property, health and safety, and to provide for the usual daily operation of municipal departments in that the all program funds must be expended by January it 2013. Now Therefore, BE IT RESOLVED BY THE CITY OF LAKEWOOD, STATE OF OHIO Section 1. That the Mayor or his designee, on behalf of the City, is hereby authorized, on behalf of the City, to enter into an Agreement with Cuyahoga County to accept funds in the amount of $250,000 allowing the City of Lakewood to purchase and rehabilitate homes in the Neighborhood Stabilization III area. Section 2. 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 action, were in meetings open to the public, in compliance with all legal requirements. Section 3. This resolution is hereby declared to bean emergency measure necessary for the immediate preservation of the public peace, property, health, safety and welfare in the City and for the usual daily operation of the City for the reasons set forth and defined in the preamble to this resolution, and provided it receives the affirmative vote of at least five (5) of members of Council, this resolution shall take effect and be in force immediately upon its adoption by the Council and approval by the