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of Finance to enter into Equipment Leases in forms approved by the Director of Law on behalf of the City of Lakewood("City"). (pg. 262) President O'Malley made a motion, seconded by Vice President Litten to refer Ordinance 03- 2021 to the Finance Committee. A roll call vote was taken as follows: Yeas —Bullock, Kepple, Litten, Neff, O'Malley, Rader, Shachner Nays —None Motion passed. Ordinance 03-2021 was referred to the Finance Committee. 33. Communication from Director Leininger regarding the transfer of properties for Tax Increment Financing Incentives at former Barry Buick and Spitzer Chrysler sites. (pg. 265) President O'Malley made a motion, seconded by Vice President Litten to receive and file the communication. Discussion: Councilmember Shachner noted that this item was already discussed at the prior Housing, Planning, & Development Committee meeting and everybody seemed to be on the same page. On the motion: A roll call vote was taken as follows: Yeas —Bullock, Kepple, Litten, Neff, O'Malley, Rader, Shachner Nays —None Motion passed. The communication was received and filed. 34. ORDINANCE 04-2021 - AN ORDINANCE to take effect immediately provided it receives the vote of at least two thirds of the members of Council, authorizing the City of Lakewood, Ohio to accept title to certain real property located within the City and immediately transfer title back to the current owner for the purpose of implement tax increment financing pursuant to Ohio Revised Code Section 5709.41. (pg. 266) President O'Malley made a motion, seconded by Vice President Litten to suspend the rules for the adoption of this ordinance on first reading. Discussion: Councilmember Rader asked if the item could be deferred to the next meeting, as it does deal with land development. President O'Malley noted that Council has already discussed the matter and that the city is still awaiting further rounds of ordinances related to the development. Passing this ordinance would not speed up the process. Director Leininger detailed future items that will involve further discussion of the development.