7743-03 Funds to Purchase 16212-28 Detroit

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RESOLUTION NO. 7743-03 BY: Corrigan, Dever, Durra, FitzGerald George, Roth, Seelie. AN EMERGENCY RESOLUTION authorizing the Mayor or her designee to apply for financial assistance through the Cuyahoga County Brownfield Redevelopment Loan Fund for the purposes of funding the potential purchase and environmental remediation of the property (PP# 3:11-30- 032) located at 16512-28 Detroit Avenue Lakewood, Ohio, future home of the IHOP Restaurant. WHEREAS, the property (PP# 311-30-032) located at 16512-28 Detroit Avenue Lakewood, Ohio sustained a serious fire on 3uly 8, 1997; and WHEREAS, the property (PP# 311-30-032)located at 16512-28 Detroit Avenue Lakewood, Ohio has been on the market for nearly six (6) years; and WHEREAS, the subject property is the future site for construction of a brand new family- restaurant by the International House of Pancake (IHOP); and WHEREAS, the subject property has been purchased by Liberty Development Company for the ground-lease and construction of the new restaurant .by IHOP, which has received all approvals from the Architectural Board of Review and the Board of Zoning Appeals; 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 both a Phase I and a limited Phase II Environmental Assessment of the property has been initiated; and WHEREAS, as a result of the Phase I and limited Phase II Assessments, environmental contaminants were identified in the ground on the subject property; and WHEREAS, certain environ mental hazards require remediation prior to the development of said property; and, WHEREAS, Cuyahoga County has Brownfield Redevelopment Loan Funds available to fund a potential purchase and remediation of said property; and WHEREAS, this Council by a vote of at least five (5) members elected hereto determines that this Resolution is an emergency measure, and that this resolution 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 that this project is necessary to facilitate the sale and remediation of said property for an economically viable and tax generating use. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF LAKEWOOD, COUNTY OF CUYAHOGA, STATE OF OHIO: Section 1. The Council of the City of Lakewood hereby authorizes the Mayor or her designee to apply for financial assistance through the Cuyahoga County Brownfield Redevelopment Loan Fund for the purposes of funding the potential purchase and environmental remediation of the property (PP# 311-30-032) located at 16512-28 Detroit Avenue Lakewood, Ohio, future home of the IHOP Restaurant. Section 2. The Council of the City of Lakewood hereby determines that application for such funding for said purchase and remediation is in the best interest of the public health, safety, and welfare due to the environmental contaminants identified in the ground on the property and will further the goal of returning the property to an economically viable and tax generating use. Page 1 of 2