2020-71 - Authorize negotiation with CASTO/North Point Realty to develop forner Hospital site

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■ Promote joint venture partnership structures to achieve a catalyst eco- nomic development project that builds upon the real estate development momentum in Downtown Lakewood. ■ Attract diverse businesses that provide residents with a wide range of opportunities. ■ Provide housing types that compliment available community housing options. ■ Business terms that deliver tangible returns on public investments, in- cluding job creation, tax revenue, and property values; and WHEREAS, CASTO's submissions, as well as communications and updates about the pro- cess can be found at the webpage: www.onelakewood.com/DowntownDevelopment; and WHEREAS, this Council hereby determines that it is the City's better interest to affirm that CASTO is the best and most qualified developer, and to move forward with negotiation of a non -binding term sheet as the basis for a development agreement for the city -owned former Lake- wood Hospital site; and WHEREAS, pursuant to the Constitution of the State of Ohio and the Ohio Revised Code, municipalities have the power of local self-government; and WHEREAS, pursuant to the Constitution of the State of Ohio and the Ohio Revised Code, municipalities have the power to enact laws that are for the health, safety, welfare, comfort and peace of the citizens of the municipality; and WHEREAS, as set forth in Section 2.12 of the Third Amended Charter of the City of Lake- wood, this Council by a vote of at least two thirds of its members determines that this resolution is an emergency measure and that it shall take effect immediately, 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 negotiation of a non -binding term sheet should begin at once; now, therefore BE IT RESOLVED BY THE CITY OF LAKEWOOD, OHIO: Section 1. The Mayor is hereby authorized to negotiate a non -binding term sheet with CASTO as the basis for a development agreement for the city -owned former Lakewood Hospital site located at Detroit Avenue and Belle and Marlowe Avenues in Lakewood. 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 of 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 be an 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 its preamble, and