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5. Committee report regarding Housing, Planning & Development Committee meeting held October 4, 2021 (to be provided) Chairman Shachner delivered the following oral report: Aside from approving the minutes there's really only one item on the agenda. It was ordinance 30-2021, which essentially would authorize the mayor to enter an agreement for the sale of 1451 Saint Charles Ave., Lakewood OH and also to approve a purchase agreement between the city and Neighborhood Drummer, which is a company with the owner being Jim Miketo. This again is part of the houses that were owned by Lakewood Hospital Association, originally purchased and held for the expansion ofLakewood Hospital. Those properties are no longer needed for expansion, so the city has been methodically, as they become available, offering them for sale. Again, we discussed the plan for the sale of these. There are nine properties. Three are currently slated to be affordable housing options with a potential for a fourth. This purchase agreement is a purchase right for $1. There were several RFPs for this property that has significant water damage. The RFPs are to preserve the historical integrity of the property exterior mainly. Nobody answered the RFPs and then we were approached by some other people with interest, so we released another RFP. The one that was chosen was Neighborhood Drummer. So, there is an interesting portion of this agreement that essentially when Neighborhood Drummer sells this property, if they get a profit of above 2501o, any number above that 25% will be split 50150 between the city and property owner or the seller. In speaking with Mr. Miketo, that seems unlikely. We may get a little depending on if the market remains really really hot the city maybe receive some money. Questions were asked about how much this property would be or be worth if we just sold it off without any conditions, and quite frankly, not much. So, the city does get the added benefit ofmaintaining the look of the neighborhood while having someone that has been committed to this city. He's been involved in the Nest project over in Ward 4 and several other projects throughout the city. The benefit definitely outweighs the purchase price. So that being said, the committee did substitute by adding the purchase agreement. After that substitution the committee did recommend this to the full council for approval. The second reading did occur September 20. Motion by Councilmember Shachner, seconded by President O'Malley to receive and file the report. All members voted in favor. Motion passed. 6. ORDINANCE 30-2021 - AN ORDINANCE to take effect immediately provided it receives the affirmative vote of at least five 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 or the Mayor to enter into an agreement for the sale of 1451 St. Charles Avenue, Lakewood, Ohio. (Is' read and referred to HPD 917121; 2"d reading 912 012 1) (pg. Olt) 4