8327-09 Apply for funds for foreclosure prevention

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RESOLUTION N0. 8327-09 REFERRED TO COMMITTEE OF THE WHOLE 2/2/09 BY: Antalmo, Butler, Dever, Madigan, Powers, Summers. A RESOLUTION to take effect immediately provided it receives the affirmative vote of at least five (5) members elected to Council otherwise, it shall take effect and be in force at the earliest period allowed by law; authorizing and directing the Mayor, on behalf of the City, to apply for financial assistance under the First Suburbs Development Council's Vacant Residential Property Fund Program in support of foreclosure prevention and remediation efforts in the Historic Birdtown Neighborhood. WHEREAS, the First Suburbs Development Council, utilizing funding provided by Cuyahoga County, will administer financial assistance for projects that address local needs relative to vacant and foreclosed properties; and WHEREAS, the City of Lakewood would benefit from seeking outside sources to fund foreclosure prevention and radiation efforts in the Historic Birdtown Neighborhood; and WHEREAS, this Council by a vote of at least five (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 III, SECTONS 10 and 13 of the SECOND AMENDED CHARTER OF THE CITY OF LAKEWOOD, and that it is necessary for the preservation of the local. housing stock, applications for these funds must be postmarked no later than February 27, 2009. Now Therefore, BE IT RESOLVED BY THE CITY OF LAKEWOOD, STATE OF OHIO Section 1. That the Mayor, on behalf of the City, be and is hereby authorized to execute and file an application for the Vacant Residential Properly Fund financial assistance with the First Suburbs Development Council and to provide all information and documentation required to become eligible for possible funding assistance. Section 2. That the City of Lakewood does agree to obligate the funds required to satisfactorily complete the proposed project and become eligible for reimbursement under the terms and conditions of the Vacant Residential Property Fund. Section 3. It is found and determined that all formal actions of this Council concerning and relating, to the passage of this resolution 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 action, were in meetings open to the public, in compliance with all legal requirements.