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Substitute for Prior 85-05 ORDINANCE NO: 49-06 BY: Antonio~ Butler~ Demro~ Dever., FitzGerald, Madîgan, Seelie. AN ORDINANCE authorizing the Mayor or his designee to enter into agreement(s) with lakewood Community Progress Incorporated for the Main Street Initiative in an amount of Seventy Thousand Dollars ($70,000.00) to be provided in two annual amounts of Forty Thousand Dollars ($40,000) and Thirty Thousand Dollars ($30,000) respectively. WHEREAS, as an authorized use of the City of lakewood's entitlement allocation of federal Community Development Block Grant dollars, the Main Street Program will promote business investment and redevelopment in Lakewood for the purpose of supporting Lakewood's competitiveness and attractiveness as a !ocation for new businesses and the expansion of existing businesses; and WHEREAS, the continued improvement, revitalization and development of downtown Lakewood is a City goal; and WHEREAS, lakewood Community Progress, Incorporated was formed to stimulate economic development and preservation of downtown lakewood thereby lessening the burden of municipal government; and WHEREASí the Main Street approach to downtown revitalJzation has generated community·wide interest and support; and WHEREAS, this Couhcil 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 heaith, safety and welfare and for the reason that financial assistance provided under the EDF 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 BY THE CITY OF LAKEWOOD, STATE OF OHIO: Section 1. That the Mayor or his designee is hereby authorized and directed to enter into annual agreements with lakewood Community Progress Incorporated to provide a total of Seventy Thousand Dollars ($70,000.00) annual increments In an amount of Forty Thousand Dollars ($40,000) and Thirty Thousand Dollars ($30,000), respectively; 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 formai actions of this Council concerning and relating to the passage of this Ordinance were adopted in an open meeting of this Council, and that ail such deliberations of this Council and any of its committees that resulted in such forma! actions¡ were in meetings open to the public in compliance with all legal requirements. Adopted: 'ÎNl¡ 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 upon its adoption by the Council and approval by the Mayor. q~.k President 15', '¡..oò{.. /f0ÚM-¡ 7 µa.~.'^- Clerk of coudeil· U Approved: ~ n, !)VOtð , ~,~ Mayor I