8809-15 Authorizing agreement with Rockport Square LLC

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Referred to Committee of the Whole 6/1/15, deferred 6/15/15 and 7/6/15. Please substitute for the original. RESOLUTION NO. 8809 -15 BY: Anderson, Bullock Juris, Madigan, Marx, Nowlin, O'Leary. A RESOLUTION to take effect immediately provided it receives the affirmative vote of at least five members of Council, or otherwise to take effect and be in force after the earliest period allowed by law, authorizing the Mayor to enter into an amended agreement with Rockport Square, LLC, or its assignee, affiliate or designee, for the development of the remaining phases of the Rockport Square development project; and to give final approval to the Planned Development on the same site pursuant to Section 1156.04(e)(8)(d) of the Codified Ordinances. WHEREAS, more than a decade ago the city of Lakewood entered into an agreement with Rockport Square, LLC, for the development of property known as the Rockport Square development project; and WHEREAS, Rockport Square, LLC, has been unable to meet its obligations under the agreement regarding the final two phases of the project; and WHEREAS, it is in the best interest of the City to further negotiate and amend this agreement so that the property is put to an eventual tax generating use rather than remain vacant land abutting Detroit Avenue; and WHEREAS, this Council by a vote of at least five of its members 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 it is necessary for the immediate preservation of the public property, health and safety, and to provide for the usual daily operation of municipal departments in order to encourage the development of this land; now, therefore, BE IT RESOLVED BY THE CITY OF LAKEWOOD, OHIO: Section 1. The Mayor or his designee is hereby authorized to enter into an amended agreement with Rockport Square, LLC or its assignee, affiliate or designee, for the development of the remaining two phases of the Rockport Square development project, and any related agreements or instruments to carry out the terms of the amended agreement. Section 2. Council specifically approves the agreement in substantially the same form as that attached as Exhibit A. Section 3. Pursuant to Section 1156.04(e)(8)(d) of the Codified Ordinances, Council hereby approves the final revised PD Planned Development plan, which has been approved by Planning Commission on June 4, 2015, and Architectural Board of Review on June 11, 2015.