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ORDINANCE NO. 1-91 <br /> <br />PLACED ON SECOND READING on 1722/91. <br /> <br />BY: Boscia, Gallagher, Gazzana, <br /> George, Graham, Roth, Smith <br /> <br /> AN EMERGENCY ORDINANCE authorizing and directing the Mayor <br />on behalf of the City of Lakewood to enter into a Final Development <br />Agreement with Lakewood Associates, Inc., for the development of the <br />Lakewood City Center. <br /> WHEREAS, by ordinance No. 86-85 Passed November 18, 1985, <br />Council authorized the Mayor to enter into a Preliminary Development <br />Agreement with the Austin E.. Knowlton Company to redevelop certain <br />properties within the City of Lakewood, and <br /> WHEREAS, by Ordinance No. 44-88, adopted May 16, 1988, the <br />Council consented to the transfer by the Austin E. Knowlton Company of <br />its interest in the Preliminary Development Agreement above to <br />Lakewood Associates, Inc., and <br /> WHEREAS, extensive negotiations, study, citizen input, <br />review by city officials, city boards and commissions, and this <br />Council of the proposed redevelopment of the Lakewood City Center has <br />been had, and <br /> WHEREAS, the Council of the City of Lakewood has determined <br /> that it is for proper municipal public purposes in the best interest <br /> of the City to enter into a Final Development Agreement as a <br /> culmination-of the efforts to redevelop'certain properties within the <br /> City of Lakewood, and <br /> <br /> WHEREAS, provisions regarding, real property transactions are <br /> contained in Chapter 155 of the Codified Ordinances of the City of <br /> Lakewood and §155.07 provides that specific procedures may be <br /> established for the sale or disposition of particular real estate or <br /> interest therein, and <br /> WHEREAS, the property to'be redeveloped as set forth in the <br /> Final Development 'Agreement is so situated and constituted that <br /> adoption of this Final Development Agreement as a first stage in the <br /> transfer of certain portions of the subject property and its ultimate <br /> redevelopment'as Proposed by Lakewood Associates, Inc., is superior to <br /> any possible public use and the eXtensive effort and review undertaken <br /> by the City to negotiate the attached agreement is superior to any <br /> other possible process, and ~- <br /> <br /> WHEREAS, the~ proposed Final Development Agreement <br /> constitutes the conclusion of arms length negotiations between <br /> representatives of the City and the'proposed developer and such an <br /> agreement serves proper municipal public purposes and is in the public <br /> interest, and <br /> <br /> WHEREAS, this ordinance constitutes an emergency measure <br /> providing for the immediate preservation of the public health, safety <br /> and welfare, now, therefore, <br /> <br /> BE IT ORDAINED BY THE CITY OF LAKEWOOD, STATE OF OHIO: <br /> Section 1'. Pursuant to the powers granted by the <br /> Constitution of the State of Ohio, this Council hereby det'ermines.that <br /> the redevelopment of certain properties within a project to be known <br /> as Lakewood City Center and the approval of and authorization to <br /> execute a Final Development Agreement for such a project are for <br /> appropriate and proper municipal public purposes promoting the general <br /> welfare of the City and its inhabitants, which public~ purposes <br /> include, but are not limited to the following: <br /> <br /> (a) The redevelopment of~the project's area is necessary <br /> for maintaining the commercial economic base of the City and to <br /> provide for the retention of employment and the provision of new <br /> <br /> <br />