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Section 1. The Mayor or his designee is hereby authorized and directed to enter into an <br />agreement, in substantially the same form as that attached as Exhibit A, with Omni Lakewood, <br />Ltd. or its designee for participation in the Lakewood Business Investment Program (BIP) of the <br />Economic Development Fund (EDF) for a five -year loan in an amount of $100,000.00 toward <br />the redevelopment of the property located at 13001 Athens Avenue, Lakewood, Ohio 44107 <br />(Permanent Parcel 315 -21 -002) in compliance with and under the terms of the BIP of the EDF; <br />said agreement to contain such terms and conditions as deemed necessary by the Director of Law <br />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 resolution 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: S'e (?{ e t, eC 2 2 j t y <br />Approved: <br />'1lC!'2r <br />President <br />