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Discussion: In response to a question by President O'Malley, Director Leininger stated that the total investment in the Bi-Rite project was over $4 million. President O'Malley expressed enthusiasm for the investment in the property. On the motion: All members voted in favor. Motion passed. 7. ORDINANCE 26-2021 - AN ORDINANCE to take effect immediately provided it receives the affirmative vote of at least two thirds of the members of Council, or otherwise to take effect and be in force after the earliest period allowed by law, authorizing and directing the Director of Planning and Development to enter into an agreement with LakewoodAlive for the sale of 1462 Belle Avenue, pursuant to Section 155.07 of the Codified Ordinances. (Is'read and referred to HPD 7119121) (pg. 15) Motion by President O'Malley, seconded by Vice President Litten to defer Ordinance 26-2021. All members voted in favor. Motion passed. Ordinance 26-2021 deferred. 8. RESOLUTION 2021-35 - A RESOLUTION to take effect immediately provided it receives the affirmative vote of at least two thirds of the members of Council, or otherwise to take effect and be in force after the earliest period allowed by law, authorizing the Mayor and/or her designee to enter into an agreement with STJS Holdings, LLC (Oster Services, LLC and Oster Services Commercial, LLC) for an economic development loan for a total amount not to exceed One Hundred Seventy-Five Thousand Dollars ($175,000),forgivable over five (5) years at Thirty-Five Thousand ($35,000) per annum upon satisfaction of all terms of said Agreement, for the rehabilitation of the historic former St. James School located at 17514 Detroit Avenue, Lakewood, Ohio 44107 and adaptive reuse as an office building. (Referred to HPD 7119121) (pg. 21) Motion by President O'Malley, seconded by Vice President Litten to adopt Resolution 2021- 35. All members voted in favor. Motion passed. Resolution 2021-35 adopted. 9. RESOLUTION 2021-36 - A RESOLUTION to take effect immediately provided it receives the affirmative vote of at least two thirds of the members of Council, or otherwise to take effect and be in force after the earliest period allowed by law, authorizing the Mayor and/or her designee to enter into an Agreement with Little Jenny LLC for a Community Development Block Grant(CDBG) Economic Development Fund (EDF) Loan for a total amount not to exceed One Hundred Fifty Thousand Dollars ($150,000), forgivable over five (5) years at $30,000 per annum upon satisfaction of all terms of said Agreement, for the substantial rehabilitation of the former Bi-Rite Building located at 12501 Madison Avenue, Lakewood, Ohio 44107 and the structure's adaptive reuse as retail and office space. (Referred to HPD 7119121) (pg. 53) Motion by President O'Malley, seconded by Vice President Litten to adopt Resolution 2021- 36. All members voted in favor. Motion passed. Resolution 2021-36 adopted. 4