39-01 Development Agreement - Virginia Marti

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ORDINANCE NO: 39-01 PLACED ON 1ST READING & REFERRED TO THE COMMITTEE OF THE WHOLE 9/17/01. 2nd Read ~0/~/01. BY: Corrigan, FitzGerald, George, Roth, Seelie, Skindell, Smith. AN EMERGENCY ORDINANCE authorizing the Mayor or her designee to enter into a Development Agreement with Virginia Marti, Inc. d.b.a. Virginia Marti College (the "College") for thc purposes of selling the property located at 11726-28 Detroit Avenue and 1385-87 Hird Avenue (PI~ 312-33-017), Lakewood, Ohio, and specifically approving the attached "Development Agreement" attached hereto as Exhibit A. WI-IEREAS, the property located at 11726-28 Detroit Avenue and 1385-87 Hird Avenue (PPg 312-33-017), Lakewood, Ohio has been on the market for nearly five (5) years; and WHEREAS, the City of Lakewood has completed a Phase I and Phase H Environmental Assessment of the property utilizing Community Block Grant dollars and a Cuyahoga County Brownfield Technical Assistance Grant; and WHEREAS, it is in the public interest to see that this property be returned to an economically viable and tax generating use; and WHEREAS, the City intends to purchase the project site utilizing the Coyahoga County Brownfield Redevelopment Loan Fund; and WHEREAS, the College is willing to acquire the aforementioned property consisting of two (2) buildings, from the City, to be redeveloped by the College; and WHEREAS; the City and the College desire to enter into a Development to set forth their agreement as to their respective rights and obligations with respect to tbe project. WHEREAS, this Council by a vote of at least five (5) members elected thereto determines that this ordinance is an emergency measure, and that this ordinance shall take effect at the earliest date possible as set forth in ARTICLE hi, SECrlONS 10 and 13 of the SECOND AMENDED CHARTER OF THE crrY OF LAKEWOOD, and that immediate action is necessat~ in order to facilitate this project prior to the expiration of the Purchase Option Agreement. NOW, WHEREFORE, BE IT ORDAINED BY THE CYFY OF LAKEWOOD, STATE OF OHIO: Section 1. The Council of the City of Lakewood hereby authorizes the Mayor or her designee to enter into a Development Agreement for the purposes of selling the property located at 11726-28 Detroit Avenue and 1385- 87 Hird Avenue (PPg 312-33-017), Lakewood, Ohio, and specifically approves the attached "Development Agreement" attached hereto as Exhibit A. Section 2. The Council of the City of Lakewood hereby determines that entering into a Development Agreement with the College m Sell said property is in the best interest of the public health, safety, and welfare of the City of Lakewood and will further the goal of returning the property to an economically viable and tax generating use. Section 3. h 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 any of its committees that resulted in such formal actions, were in meetings open to the public in compliance with all legal requirements. Section 4. This Ordinance is hereby declared to be an emergency measure for the reasons set forth and defined in the preamble of this Ordinance, and provided it receives the affirmative vote of at least five (5) of its members elected to Council, this Ordinance shall take effect and be in force immediately upon its adoption by the Council and approval by the Mayor; otherwise it shalI take effect and be in force after the earliest period allowed by law. President Approved: / {/ Cler ofC~'t~nc'~. ,