8963-17 Amend Rockport Square Project Tax Financing Agreement with LCSD

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Referred to Committee of the Whole Nov. 20, 2017. Please substitute for the original. RESOLUTION NO. 8963 -17 BY: Anderson, Bullock, George, Litten, O'Leary, O'Malley, Rader. A RESOLUTION to take effect immediately provided it receives the affirmative vote of at least two thirds of Council, or otherwise to take effect and be in force after the earliest period allowed by law, authorizing the Mayor of the City of Lakewood, Ohio, to enter into a First Amendment of the Rockport Square Revitalization Project Tax Financing Agreement dated on or about May 10, 2004 with the Lakewood City School District. WHEREAS, Council approved an agreement between the City and the Lakewood City School District, executed on or about May 10, 2004, related to revenue sharing from the Rockport Square TIF Revitalization Project; and WHEREAS, the City and School District have entered into negotiations regarding payments to have been and to be made under that agreement, culminating in their drafting of a First Amendment of the Rockport Square Revitalization Project Tax Financing Agreement; and WHEREAS, Council has reviewed the proposed amendment and does desire to approve of it; and WHEREAS, pursuant to the Constitution of the State of Ohio and the Ohio Revised Code, municipalities have the power of local self - government; and WHEREAS, pursuant to the Constitution of the State of Ohio and the Ohio Revised Code, municipalities have the power to enact laws that are for the health, safety, welfare, comfort and peace of the citizens of the municipality; and WHEREAS, as set forth in Section 2.12 of the Third Amended Charter of the City of Lakewood, this Council by a vote of at least two thirds of its members determines that this resolution is an emergency measure and that it shall take effect immediately, 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 that the amendment calls for the first payment to be made to the School District in January 2018; now, therefore BE IT RESOLVED BY THE CITY OF LAKEWOOD, OHIO: Section 1. Council hereby authorizes the Mayor of the City of Lakewood, Ohio, to enter into a First Amendment of the Rockport Square Revitalization Project Tax Financing Agreement dated on or about May 10, 2004 with the Lakewood City School District, such amendment to be in substantially the same form as the document attached to this resolution.