7803-03 EDF - Hull & Assoc - Vedda & Sons

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RESOLUTION NO: 7805-03 BY: Corrigan, Dever, Dunn, FitzGerald, George, Roth, Seelie. AN EMERGENCY RESOLUTION authorizing the Mayor or her designee to enter into a contract, in an amount not to exceed Twenty Thousand Dollars ($20,000.00), of Economic Development Funds (EDF) with Hull & Associates, Inc. for the purposes of conducting an updated Phase I and Phase II Environmental Property Assessment on the vacant parcel located at 12000 Berea Road (Permanent Parcel Number 315-25-007) Lakewood, Ohio, in support of the relocation and expansion of Phil Vedda & Sons Printing Company. WHEREAS, the vacant parcel located at 12000 Berea Road (Permanent Parcel Number 315- :25-007) Lakewood, Ohio has been vacant and on the market for a number of years; and WHEREAS, pursuant to the Lakewood Commun/ty V/s/on, and the Berea Road, West fl2~ Street Study, Berea Road is recommended to be maintained and strengthened as an important industrial corridor within the City of Lakewood; and WHEREAS, Phil Vedda & Sons Printing Company, has been in business in Lakewood since 1956; and WHEREAS, Phil Vedda & Sons Printing Company has entered into a purchase option for the vacant parcel at 12000 Berea Road for the purpose of relocating and expanding their business to a new building at this location thus allowing them to remain in Lakewood; and WHEREAS, pre-development activities including environmental assessments are eligible activities for funding through the EDF; and WHEREAS, it was determined that certain environmental conditions will likely require remediation prior to the sale of said property to a subsequent purchaser; 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, as an authorized use of the City of Lakewood's entitlement allocation of federal Community Development Block Grant dollars, the Economic Development Fund (EDF) was established and approved by Lakewood City Council on December 2, 1996, with the intent of the EDF being to promote business investment and redevelopment in identified areas of 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 Business Investment Program (BIP) was established and approved by Lakewood City Council on June 2, 1997 as a means for implementing the EDF in order to provide needed and appropriate assistance and support to companies investing in Lakewood that would foster redevelopment efforts to increase jobs, generate new tax revenue and provide for physical improvements in Lakewood; and WHEREAS, the Economic Development Committee met on August 14, 2003 and unanimously voted to approve the request for Twenty Thousand Dollars ($20,000.00) from the Economic Development Fund for the purposes of conducting an updated Phase T and Phase II Environmental Property Assessment on the vacant parcel located at 12000 Berea Road (Permanent Parcel Number 315-25-007) Lakewood, Ohio; and WHEREAS, this Council by a vote of at least fi~,e (5) members elected thereto 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 TII, SECTTONS 10 and 13 of the SECOND AMENDED CHARTER OF THE CITY OF LAKEWOOD, to provide for the immediate preservation of the public property, health and safety, and to provide for the completion of this assessment during the purchase option period in support of the timely redevelopment of this important industrial property. NOW, THEREFORE, Paqe 1 of 2