Laserfiche WebLink
DEVELOPMENT AND USE AGREEMENT <br /> THIS DEVELOPMENT AND USE AGREEMENT (this "Agreement") is entered into as <br /> of November 7, 2018 (the "Effective Date"), by and between THE CITY OF LAKEWOOD, a <br /> municipal corporation and political subdivision duly organized and validly existing under the <br /> Constitution and laws of the State of Ohio"(the"City"), and acting by authority of Ordinance No. <br /> 27-18, enacted on May 8, 2018 (the"Development Agreement Ordinance"), and CARNEGIE <br /> MANAGEMENT AND DEVELOPMENT CORPORATION, an Ohio corporation, its <br /> successors and/or assigns permitted under Article XI ("Developer"). <br /> RECITALS <br /> A. The City is the owner of certain real property located in the City of Lakewood, as more <br /> particularly described on Exhibit A attached hereto (the"Development Site"). <br /> B. The City has determined that the development of the Development Site is in the best <br /> interest of the City and the health, safety and welfare of its residents, and is necessary for <br /> the purpose of the creation of jobs and employment opportunities in the City and to <br /> improve the economic welfare of City residents. <br /> C. After extensive analysis, deliberation and review, the City formulated a strategy for <br /> development of the Development Site that embodies a compelling vision for the future of <br /> the City and its residents. <br /> D. The Council of the City of Lakewood,by the Development Agreement Ordinance, has <br /> authorized the sale of the Development Site to Developer upon the terms and conditions <br /> provided herein, which Development Agreement Ordinance is attached hereto as <br /> Exhibit B and incorporated herein. <br /> E. As a condition to the sale of the Development Site to Developer, the parties have agreed <br /> that the Development Site shall be developed in accordance with a plan and schedule of <br /> development. <br /> 1 <br /> 4822-5376-7522.22 <br />