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Councilman Baker requested a detailed analysis of theprojected income tax revenue expected from these sites, given the developer’s direct request for City financing. He also expressed a desire to gain a deeper understanding of the project's value and its purpose. He emphasized the need for a comprehensive presentationby the Planning Department or the Finance Departmentto ensure the Council fully comprehends the project’s intentions. n the motion: All in favor. Motion passed. Communication received and filed. O 9.ORDINANCE 03-2024 - AN ORDINANCE authorizing a development agreement with LDC Warren LTD, LLC in connection with the redevelopment of certain real property in the City of Lakewood, Ohio as part of a tax increment financing program under Ohio Revised Code Section 5709.41. (pg. 18) Motion by President Kepple, seconded by Vice President Shachner, to refer Ordinance 03-2024 to the Housing, Planning, and Development Committee. All in favor. Motion passed. Ordinance 03- 2024 referred to Housing, Planning, and Development Committee. 10.ORDINANCE 04-2024 - 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 theCity 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. (pg. 62) Motion by President Kepple, seconded by Vice President Shachner, to refer Ordinance 04-2024 to the Housing, Planning, and Development Committee. All in favor. Motion passed. Ordinance 04- 2024 referred to Housing, Planning, and Development Committee. 11.Communication from Planning Director Leininger regarding Sale of Various City-Owned Properties (pg. 65) Discussion: Councilman Rader requested more clarity on the City's processes for acquiring and selling propertiesin order to ensure both the public and Council are well-informed about these operations. Councilman Baker asked Planning Director Leininger whether the proposed legislation permits the administration to complete property transactions without reporting to Council. Planning Director Leininger clarified that the legislation allows the administration to accept the best offer for a property and subsequently report the details of the sales to Council. This approach, he noted, aligns with the procedures established by previous ordinances, allowing transactions to be completed before the administration reports back to the Council. Councilman Baker expressed an interest in having discussions with both the administration and Council regarding properties with potential for commercial redevelopment. He advocated for Council to receive more frequent updates on the status of these properties. 4