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ORDINANCE NO. 38-03~i By: PLEASE SUBSTITUTE FOR ORDINANCE 38-03
<br /> PLACED ON ist READING AND REFERRED TO THE
<br /> COMMITTEE OF THE WHOLE ON APRIL 21, 2003. PLACED
<br /> ON 2"d READING MAY 3~ 2003.
<br /> Corrigan, Darer, Dunn, FitzGerald, George, Roth,
<br /> Saetia
<br />
<br /> AN EMERGENCY ORDINANCE authorizing the Mayor or her designee to enter into a
<br />Development Agreement relating to the West End Redevelopment Area and declaring
<br />improvements to certain parcels of real property to be a public purpose as outlined in section
<br />725.02 of the Ohio Revised Code; requiring the owners of those parcels to make urban renewal
<br />service payments in lieu of taxes; establishing a tax incentive review council; and authorizing the
<br />execution of various contracts, certifications and other documents related thereto.
<br />
<br /> WHEREAS, by Ordinance No. 146-02, passed December 16, 2002, this Council approved the
<br />Community Development Plan for the West End District dated .luly 25, 2002 for the Plan District
<br />described in such Plan (such Plan, as the same may be amended from time to time, is sometimes
<br />herein referred to as the "Plan", and the Plan area for the Plan is sometimes herein referred to as
<br />the "Plan District"), which Plan includes undertakings and activities by the City comprising an
<br />urban renewal project in accordance with Ohio Revised Code Chapter 725 (the "Act") for the
<br />elimination and prevention of blight and for the prevention of the further development and spread
<br />of blight; and
<br />
<br /> WHEREAS, Lakewood Shoppes LLC, an Ohio limited liability company formed by an
<br />agreement between CenterPoint Properties and .leffrey R. Anderson Real Estate, Inc. (the
<br />"Developer'S, and Heartland Developers LLC (the "Residential Developer") has proposed to the
<br />City of Lakewood (the "City'~) a redevelopment project comprised of a mixed-use
<br />commercial/residential lifestyle center (the "Project") within the Plan District, which Project is
<br />consistent with the Plan, and the Developers are willing to enter into a development agreement
<br />with the City (the "Development Agreement") relating to the proposed redevelopment within the
<br />Plan District; and
<br />
<br /> WHEREAS, pursuant to Section 725.02 of the Ohio Revised Code, improvements to real
<br />property within the Plan District and consistent with the Plan, may be declared to be a public
<br />purpose in the Development Agreement; and
<br />
<br /> WHEREAS, pursuant to Section 725.02 of the Ohio Revised Code, such improvements so
<br />declared to be a public purpose in the Development Agreement. shall be exempt from real property
<br />taxation; and
<br />
<br /> WH. EREAS, pursuant to Section 725.04 of the Ohio Revised Code, the owners of such
<br />improvements are required to make annual urban renewal service payments in lieu of taxes that
<br />would have been paid had such improvements not been exempt; and
<br />
<br /> WHEREAS, the Lakewood City School District (the "School District'') has been notified of the
<br />intent to enter into the Development Agreement authorized herein, in compliance with Section
<br />725.02 of the Ohio Revised Code, and the School District, by resolution adopted by a majority of
<br />the Board of Education of the School District and certified to this Council on
<br />May 12, , 2003, has approved the exemption from real property taxation in the
<br />percentage requested by this Council; and
<br />
<br /> WHEREAS, this Council by a vote of at least five (5) members elected thereto determines
<br />that this ordinance is an emergency measure, and that this Ordinance shall take effect at the
<br />earliest date possible as set forth in ARTICLE IIT, SECTION 10 and 13 of the SECOND AMENDED
<br />CHARTER OF THE CITY OF LAKEWOOD, and that immediate action is necessary for the immediate
<br />preservation of the public peace, property, health, safety and welfare in the City of Lakewood and
<br />for the usual daily operation of the City of Lakewood for the timely execution of the Development
<br />Agreement and all related actions. NOW, THEREFORE,
<br />
<br />BE IT ORDAINED BY THE CITY OF LAKEWOOD, STATE OF OHIO:
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