16-81 Amend option to purchase 11800 Detroit Ave

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ORDINANCE NO. 16-81 BY: Chinnock, Gallagher, Graham, McBride, Wendling AN EMERGENCY ORDINANCE authorizing and directing the Mayor to enter into an Amendment to the Option to Purchase Real Estate previously entered into by and between the City of Lakewood and John and Frances D, DeFrasia in order to extend the Option an additional six months. WHEREAS, the City has previously entered into an Option to Purchase Real Estate with John DeFrasia and Frances D. DeFrasia wherein the City was granted an option to 12:00 p.m. noon on March 15, 1981 to purchase the real property known as 11800 Detroit Avenue, Lakewood, Ohio, as part of the Homestead Theater Re-Development Project, and WHEREAS, this Council and the Community Development Corporation of Lakewood have approved in principle said Homestead Theater Re-Development Project, and WHEREAS, in order to secure approval of said project by the federal government and to consummate final plans for the completion of the project it is necessary that the option be extended for a six month period, and WHEREAS, the owners of said property have agreed to said extension, and WHEREAS, this ordinance constitutes an emergency measure providing for the usual daily operation of a municipal department;~now, therefore, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF LAKEWOOD, STATE OF OHIO: Section 1. That the Mayor be and he is hereby authorized and directed to enter into an Amendment to the Option to Purchase Real Estate previously entered into by and between the City of Lakewood and John and Frances D. DeFrasia to purchase the real property located at 11800 Detroit Avenue, Lakewood, Ohio so as to extend the option agreement an additional six month period and to provide a similar extension of the time in which the owner shall be entitled to retain possession of the premises subject to the exercise of the option, said Amendment to be substantially in the form as set forth in Exhibit "A" attached, hereto, and made a part hereof as if fully rewritten herein. Section 2. It is found and determined that all formal actions of this Council concerning and relating to the passage of this ordinance were adopted in an open meeting of this Council, and that all said deliberations of this Council and that of any of its committees that resulted in such formal action, were in meetings open to the public i~ accordance with all legal requirements including Section 121.22 of the Ohio Revised Code. Section 3. That this ordinance is hereby declared to be an emergency measure for the reasons stated in the premable 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; otherwise it shall take effect and be in force after the earliest period allowed by law. President