Laserfiche WebLink
ORDINANCE N0.2011-02 <br />INTRODUCED BY: Mayor Rinker and Council as a Whole <br />AN EMERGENCY ORDINANCE <br />AUTHORIZING AND DIRECTING THE MAYOR <br />TO ENTER INTO AN AMENDMENT TO THE <br />DEVELOPMENT AGREEMENT WITH <br />PROGRESSIVE CASUALTY INSURANCE COMPANY <br />RELATIVE TO THE SOUTHERNMOST PART <br />OF THE NORTHWEST QUADRANT <br />WHEREAS, due to the change in circumstances occurring since the Parties executed the <br />Development Agreement in 2006, and the counterpart Ordinance No.2005-18 (both attached hereto <br />and incorporated by reference as Exhibit "A" and Exhibit "B" and hereinafter referred to collectively <br />as the "2006 Agreement"), which changes include inter alia Progressive's decision to refrain from <br />constructing what has commonly been identified as "Campus 3", the Parties, through this <br />Amendment, pursuant to Paragraph 23 of the 2006 Agreement, supported by valuable consideration, <br />rededicate their mutual promises to effectuate the purposes and provisions of the 2006 Agreement <br />where applicable; and <br />WHEREAS, this Amendment herein incorporates and reiterates by reference the Village's <br />threefold legislative intent set forth in its 2005 "Complaint for the Appropriation of Property" in the <br />case captioned, Village of Mayfield v. Costanzo & Son Co., et al., Case No. 2005 ADV 0102032, <br />filed in the Court of Common Pleas, Probate Court Division, Cuyahoga County, Ohio, a copy of <br />which is attached hereto and incorporated herein as Exhibit "C"; said three-fold legislative intent <br />stated in 2005 as follows: <br />To further the public purposes of: <br />1. Economic development; <br />2. The conservation of natural resources of the Village by the creation of parks and <br />greenspace; and <br />3. To allow the continuation of a planned development; and <br />WHEREAS, said case was settled in 2006, as evidenced by Exhibit "D", a copy of the <br />Court's Journal Entry, attached and incorporated herein by reference, which settlement inter alia was <br />supported by monetary consideration paid by Progressive to the Village in excess of $3 million as <br />reimbursement for acquisition of land and legal expenses for the case, and further consideration <br />expended by the Village in the exercise of its governmental eminent domain powers and the deeding <br />