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certain real property in the City of Lakewood, Ohio as part of a tax increment financing program under Ohio Revised Code Section 5709.41. (1`read& referred to HPD 6121121; 2"d reading 716121) (pg. 00 1) Remarking that Ordinance 22-2021 was favorably reported out of Housing, Planning, & Development, President O'Malley moved to adopt. Motion seconded by Vice President Litten. President O'Malley disclosed that he is a non-voting member of a non-profit board that is associated with this project. He clarified that this is not a conflict on interest but worthy of disclosing. On the motion: All members voted in favor. Motion passed. Ordinance 22-2021 adopted. 3. ORDINANCE 23-2021 - AN ORDINANCE to take effect immediately provided it receives the vote of at least two thirds of the members of Council, or otherwise to take effect at the earliest period allowed by law, 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 implementing tax increment finance pursuant to Ohio Revised Code Section 5709.41. (1`read& referred to HPD 6121121; 2"'reading 716121) (pg. 043) Motion by President O'Malley, seconded by Vice President Litten to adopt Ordinance 23- 2021. It was clarified that the ordinance authorizes the City to enter into the chain of title very briefly for the property in order to make it eligible for the TIF. Councilmember Bullock acknowledged the significance of the financial support the City is providing through the TIF. He remarked that the community will benefit from the vibrancy brought by the project. He remarked that TIFs have come up several times recently and that their use in general merits further discussion in the future. President O'Malley remarked that the City has attempted to redevelop this property for many years. He acknowledged that it is a risk but one that can potentially catalyze greater development in this blighted area of the City. He further noted that the building is in disrepair and this project will remedy those issues. Councilmember Kepple and Director Leininger shared further information about the project that was communicated during the Housing, Planning & Development Committee discussion. On the motion: All members voted in favor. Motion passed. Ordinance 23-2021 adopted.