73-03 SBC Ohio BIP - Laserfiche WebLink

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PLACED ON 1ST READING & REFERRED TO THE COMMITTEE OF ,THE WHOI:E , 10/6/03. PLACED ON 2ND READING 10/20/03. Corrigany Dever, Dunn, FitzGerald, George. Roth, Seelíe. AN EMERGENCY ORDINANCE authorizing the Mayor or her designee to enter into an agreement with SBC Ohio for participation in the Lakewood Business Investment Program (BIP) of the Economic Deveiopment Fund (EDF) for a five (5) year forgivable loan in an amount of One Hundred Thousand Doliars ($100,000.00) to assist SBC Ohio to complete the renovations and system equipment upgrades. necessary to establish a Mechanized Loop Assignment Center (MLAC) at the facility located at 14233 Detroit Avenue (Permanent Parcei No. 314-07-001), Lakewood, Ohio. ORDINANCE NO: 73-01 BY:" ' WHEREAS, as an authorized use of the City of Lakewood's entitlement aliocation of federal Community Development Slack Grant doliars, the EDF was established and approved by Lakewood City Council on December 2, 1996 in order to promote business investment and redevelopment in Lakewood for the purpose of supporting Lakewood's competitiveness and attractiveness as a location for new businesses and the expansion of existing businesses; and WHEREAS, the SIP was established and approved by Lakewood City Council on June 2, 1997 as a means for impiementing the EDF in order to provide needed and appropriate assistance and support to companies investing in Lakewood that would foster redevelopment efforts to increase jobsr generate new tax revenue and provide for physical improvements in Lakewoad; and WHEREAS, SSC Ohio, has applied for a loan under the SIP in order to complete a financial package to support a significant planned capital investment in the establishment of a Mechanized Loop Assignment Center (MLAC) at 14233 Detroit Avenue, Lakewood, Ohio; and WHEREAS, this application by SSC Ohio meets and exceeds the General Assistance Guidelines of the BIP; and WHEREAS, pursuant to the Loan Agreement between the City of Lakewood and SSC Ohio the MLAC will provide a related growth of up to one hundred (100) jobs over the next two (2) years and include a provision for the MLAC to remain in Lakewood a minimum of five years (5); and WHEREAS, the Economic Development Committee convened on September 26, 2003 and, reviewed, and unanimously approved recommendation of the BIP application by SSC Ohio; and WHEREAS, in order to enter into loan agreements under the BIP with SBC Ohio, Lakewood City Council must grant authority for the City to enter into such agreements; and WHEREAS, this Council by a vote of at least five (5) members elected hereto 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 III, SECTIONS 10 and 13 of the SECOND AMENDED CHARTER OF THE CITY OF LAKEWOOD, and that immediate action is necessary to provide for the preservation of the public health, safety and welfare and for the reason that financial assistance provided under the EDF for the SBC Ohio MLAC project is an investment in the City of Lakewood which promotes business redevelopment, generates jobs, increases tax revenues and provides for physical improvements thereby stabilizing the community and improving the quality of life within the City. NOW, THEREFORE, BE IT ORDAINED SY THE CITY OF LAKEWOOD, STATE OF OHIO: Section 1. That the Mayor or her designee is authorized to enter into an agreement with SSC Ohio for participation in the Lakewood Business Investment Program (BIP) of the Economic Development Fund (EDF) for a five (5) year forgivable loan in an amount of One Hundred Thousand Dollars ($100,000.00) to assist SSC Ohio to complete the renovations and system equipment upgrades necessary to establish a Mechanized Loop Assignment Center (MLAC) at the facility located at 14233 Detroit Avenue (Permanent Parcel No. 314-07-001), Lakewood, Ohio in compliance with and under the terms of the Business Investment Program of the Economic Development Fund; said agreements to contain such terms and conditions as deemed necessary by the Director of Law to protect the public interest. 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 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 3. 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 at the earliest date possible :::::~~:.~~=.,~.=:~, ~ APProved:/U~ ¥ 1vv)