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BE IT ORDAINED BY THE CITY OF LAKEWOOD: <br />Section 1. The Mayor or any other officer of the City is hereby authorized to (1) accept <br />title to the Property, as described and depicted on Exhibit A attached hereto, via limited warranty <br />deed, for $1.00 and to immediately transfer title to the Property back to the current owners via <br />quitclaim deed for the same amount, and (2) to take any and all other actions required to effectuate <br />the transfer of the property, including, but not limited to, recording the deeds with the Cuyahoga <br />County Treasurer. <br />Section 2. That the property is not needed for a municipal purpose. <br />Section 3. That waiving competitive bidding in connection with the City's conveyance <br />of the Property to the current owner is justified and reasonable because the property conveyances <br />are necessary for the Project and to fulfill the City's urban redevelopment plan with respect to the <br />same and Council has approved the terms of the purchase and sale contained in the Development <br />Agreement on file in the Clerk of Council's office pursuant to Lakewood Codified Ordinance <br />Section I I 1.04(a)(4).) <br />Section 4. It is hereby found and determined that all formal actions of this Council <br />concerning and relating to the adoption of this Ordinance were passed in an open meeting of this <br />Council, and that all deliberations of this Council and of any of its committees that resulted in such <br />formal action, were in meetings open to the public, in compliance with all legal requirements <br />including R.C. Section 121.22. <br />Section 5. This ordinance is hereby declared to be an emergency measure necessary <br />for the immediate preservation of the public peace, property, health, safety and welfare in the City <br />and for the usual daily operation of the City for the reasons set forth and defined in the preamble <br />to this ordinance, and provided it receives the affirmative vote of at least two thirds of the members <br />of Council this ordinance shall take effect and be in force immediately upon its adoption by the <br />Council and approval by the Mayor, or otherwise it shall take effect and be in force after the earliest <br />period allowed by law. <br />Adopted: � ((� � �fl� 1 <br />Approved: I � /�, I <br />IN <br />Daniel J. O'K4,aJey, Council President <br />Maureen M. Bach, Council Clerk <br />Meghan F. George, Mayor 0 <br />