MINUTES 10-01-18 - Laserfiche WebLink

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2. RESOLUTION NO. 9021 -18 - A RESOLUTION to take effect immediately provided it receives the affirmative vote of at least two thirds of the members of Council, or otherwise to take effect and be in force after the earliest period allowed by law, authorizing the Mayor and Director of Law to enter into a purchase agreement with The Trinity Lutheran Church aka Trinity Lutheran Church aka Lakewood English Evangelical Lutheran Church, an Ohio non -profit corporation, owner of the property located at 16300 -16400 Detroit Avenue, Lakewood, Ohio (PPN 311 -30 -028, -029 and -030), and to execute all documents necessary to effectuate the purchase and sale according to the terms of that agreement. (REFERRED TO COW 9/17/18) (pg. 1) Discussion: Council discussed the property's holding costs. They are estimated to be about $40,000 if the property is being used. If the property is kept vacant the holding costs would be significantly less and mainly entail property maintenance and security. Holding costs would be paid for out of the land acquisition fund. Councilmember Bullock expressed support for the purchase for the strategic reasons discussed. He remarked that the holding costs are manageable especially considering the opportunity that this purchase will bring. Councilmember O'Leary expressed support for the purchase for the strategic reasons discussed and because holding costs are manageable. He expressed support for it tonight in order to signal to the sellers that the City does not have any reservations but will understand if others prefer to wait for additional information. Council discussed the idea of deed restricting the property at the time the City decides to re- sell it to prevent a situation where the buyer quickly turns around and sells it to an entity that doesn't fit with the community vision. In response to a Councilmember's question, Director Butler stated that the sale price in the Resolution is the agreed upon price between the City and the church. It is not at risk of changing/increasing while Council considers the legislation. Councilmember Anderson expressed support for the sale, the information that has been provided and the strategy. In response to a Councilmember's question, it was clarified that the sale of the property does not bind the City to any future plans regarding the property. Any lease arrangement for the property would come before Council for approval. Councilmember Rader expressed support for the sale in light of the above information and with the future intent to deed restrict the property.