49-05 Boundaries of Community Reinvestment Area

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PLACED ON 1ST READING & REFERRED TO THE COMMITTEE OF THE WHOLE 5/16/05. SECOND READING 6/6]05. ORDINANCE NO. 49-05 By: Corrigan, Demro, Dever, FitzGerald, Seelie. AN EMERGENCY ORDINANCE IMPLEMENTING SECTIONS 373565 THROUGH 3735.70 OF THE REVISED CODE, ESTABLISHING AND DESCRIBING TIJE BOUNDARIES OF A COMMUNITY REINVES1MENT AREA IN TIJE CITY OF LAKEWOOD. AND DECLARING AN EMERGENCY WHEREAS. Ohio Revised Code Sections 3735.65 through 3735.70 (collectively, the "Act") have 'authorized counties or municipalities to desigi1ate areas as Community Reinvestment Areas for the purpose of encouraging economic and community development in areas that have not enjoyed reinvestment by remodeling or new construction; and WHEREAS, this COWlcil desires to pursue all reasonable and legitimate incentive measures to assist and encourage development of nèw residential housing within the City consistent with the City's planning and zoning needs reférred to below; and WHEREAS, as' required by Section 3735.66 of the Ohio Revised Code, a survey of housing (the "Survey") has been prepared for the area proposed to be included in the Community Reinvestment Area designated in this Ordinance and described and depicted in attached Exhibit A to this Ordinance (the "Area"); and WHEREAS, the Survey shows the facts and conditions relating to existing housing in that proposed Community Reinvestment Area, including, among other things, evidence of deterioration and lack of new construction in substantial portions of the Area; and Wl:ÍEREAS, the City has determined, that there has been aild is a shortage of new residential housing within the City and the City therefore wishes to encourage the construction of new residential housing within the "Area"; and WHEREAS, Council hereby finds and determines that the construction of structures in the Community Reinvestment Area, consistent with the City's land use requirements, would serve to encourage residential growth and stability, maintain real property values, and generate new employment opportunities within the City; and WHEREAS, there has been recommended to this Council the approval of the designation of the proposed Community Reinvestment Area as a COnimunity Reinvestment Area and this Council has been apprised of the Survey and the facts ap.d conditions relating to the Community Reinvestment Area, and this Council has detennined that the construction of new housing facilities in the Area would serve to encourage economic stability and growtli, maintain real property values, and generate new employment opportunities in the City; and WHEREAS, the construction of new residential housing facilities in the CommlUlity Reinvestment Area constitutes 'a public purpose for which real property exemptions may be granted and is supported by the Survey; and 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 III, SECTION 10 and 13 of the SECOND AMENDED CHARTER OF THE CITY OF LAKEWOOD, and that immediate action is necessary; for the irrnnediate preservation of the public peace, property, health, safety and welfare in the City of Lakewood and for the usual daily operation of the City of Lakewood for the timely encouragement of construction of new housing within the Ci1y. NOW, TIIEREFORE, BE IT ORDAINED BY TIJE CITY OF LAKEWOOD, STATE OF OHIO· SECTION I, That, based upon the aforesaid recommendations and the Survey, and on this COlmcil's own lmowledge of the facts and conditions existing in the proposed Community Reinvesbnent Area, this Council hereby finds and determines that the area to be designated as Community Reinvestment Area #3 constitutes an area in which housing facilities or structures of historical significance are located, and in which new construction or repair of existing facilities has been discouraged. SECTION 2. That, pursuant to Section 3735.66 of the Ohio Revised Code, Community Reinvestment Area #3 is hereby established as that Area described and depicted in attached Exhibit A to the Ordinance