18-73 Lease w/ Marwood for off street parking

Home Browse Search

ORDINANCE ~O, 18-73 BY: Messr. McBride, Usher, Wendling, Werner, Brockman, Graber,.Magnotto AN EMERGENCY ORDINANCE authorizing the City of Lakewood to enter into an Indenture of Lease with Harwood, Inc. for continued utilization of certain real estate owned by the City of LakeWood and used for off-street parking. WHEREAS, pursuant to Ordinance 75-63~' adopted July 16, 1963 the City leased a parcel of land on St. Charles Avenue to Bevlyn, Inc. (now known as Harwood, Inc.) to provide for private off-street parking and to increase commercial development in the City, and WHEREAS, the City has determined that the p~visions of the aforesaid Lease are not surf/tie-ti7 beneficial to the City and a Lease upon more favorable terms should be concluded, and I~IEREAS, as a 'result of extensi~e negotiations,a new Indenture of Lease has been proposed, the terms and provisions of which provide a substantial increase in benefits to the City, and WHEREAS, this Council has det~rm!ned that it is in the best interest of the City to enter into such new Indenture of Lease with Harwood, Inc.., which Indenture is set forth in Exhibit A attached hereto and made a part hereof, and WHEREAS, this ordinance constitutes an emergency measure providing for the immediate preservation of the public health, safety and welfare and for the further reason that in order to continue and maintain the commercial development of ~he City and to take immediate advantage of the increased benefits, said Indenture should be authorized as soon as possi.ble, now, therefore, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF LAKEWOOD, STATE OF OHIO: Section 1. Based upon the findings and determinations and subject to the conditions hereinafter set forth, Council hereby determines that an Indenture of Lease as set forth in Exhibit A attached hereto and made a part hereof shall be entered into by the City of Lakewood with Harwood, Inc. vith respect to the real estate therein described, now owned by the City and used for off-street parking purposes. Section 2. That the Mayor be and he is hereby authorized and directed to execute said Indenture of Lease and the Director of Finance to attest the same provided (a) that said Indenture of Lease shall first have been executed by the Lessee pursuant to authorit~ duly granted by its Board of Directors and (b) that the terms and provisions and the execution thereof shall have been approved by the Director of Law. Section 3. Council hereby finds, determines and declares that by reason of the specifications made in said Lease that the real estate described shalI be 'used for parkin§ purposes without diminution of the area presently available under the City's ownership for off-street parking, said real estate will not during the term of the Leasebe required for municipal parking or any other municipal purposes; that the aforementioned Indenture of Lease should be entered into as specified herein and that the making of such Indenture of Lease is in the best interests of the City and will further the interests of this City and its residents. Section ~. That this ordinance is hereby declared to be an emergency measure for the reasons stated in the preamble hereof and provided it receives the affirmative vote of two-thirds of all members elected to Council, it shall take effect and be in force immediately upon its adoption and approval by the Mayor.