43-90 Home Federal Savings - Acquire 15017 Detroit

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ORDINANCE NO. 43-90 Placed On FIRST READING, Referred to the Ping Cmsn and Cmte of Whole 4/16/9 Placed on SECOND READING on 5/21/90. BY: Boscia, Gallagher, Gazzana, George, Graham, Roth, Smith AN EMERGENCY ORDINANCE authorizing and directing the Mayor, on behalf of the City of Lakewood, to enter into a Purchase Agreement with Home Federal Savings Bank, Northern Ohio, for the acquisition of property located in the City of Lakewood at 15017 Detroit Avenue. WHEREAS, Council has determined that it is in the best interest of the C%ty to acquire said property to be used for a public purpose, and WHEREAS, said property is an essential part of the proposed Downtown Development area and must be acquired if the project, as approved by the Planning Commission, is to proceed, and WHEREAS, Council is presently considering a resolution of necessity to take the subject property by eminent domain, and WHEREAS, the current owners of the property have agreed to negotiate a sale of the property to the City without the necessity of a taking under eminent domain for a purchase price of $340,000 subject to final approval by Council pursuant to a duly adopted ordinance and final acceptance of the agreement by Home Federal Savings Bank, and WHEREAS, this ordinance constitutes an emergency providing for the immediate preservation of the public health, and welfare; now, thereforef measure safety BE IT ORDAINED BY THE CITY OF LAKEWOOD, STATE OF OHIO: Section 1. That the Mayor on behalf of the City of Lakewood be and he is hereby authorized and directed to enter into a Purchase Agreement for the acquisition of the property located at 15017 Detroit Avenue and described in Exhibit "A" attached hereto and incorporated by reference herein, said Purchase Agreement to be substantially in the form of Exhibit "A", with such additional provisions as are acceptable to the Director of Law to protect the public interest. Section 2. That pursuant to the conditions of the aforementioned Purchase Agreement, Council hereby formally approves the purchase of said property hereinabove described, including the terms and conditions set forth therein and approved and ratifies the actions of the Mayor as of this date. Section 3. 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 such deliberations of this Council and of any of its committees that resulted in such formal action were in meetings open to the public in compliance with all legal requirements. Section 4. 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; otherwise, it shall take effect and be in force after the earliest period allowed by law. Adopted: