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ORDINANCE NO. 98- 08 ,. <br />~' ~- - ~ INTRODUCED BY: Mayo~~ Rinker and Council as a Whole <br />AN EMERGENCY ORDINANCE <br />AUTHORIZING AN AGREEMENT WITH PROGRESSIVE RESOURCE <br />SERVICES COMPANY, FORMERLY KNOWN AS. TRANSPORTATION <br />RECOVERIES, Ih+IC., AS AND FOR THE PURCHASE OF A PARCEL <br />OF REAL PROPERTY LOCATED ON SOM CENTER ROAD, <br />CONSISTING OF APPROXIMATELY 59.5 ACRES <br />WHEREAS, the Village has entered into a development agreement which includes <br />the acquisition of certain properties for recreational and park purposes to serve the <br />residents and citizens of the Village of Mayfield; and <br />WHEREAS, the overall development of the Northwest Quadrant has been approved <br />by the Planning Commission, various Village committees and boards, as best suiting the <br />health, safety and welfare of the Mayfield Village community; and <br />WHEREAS, the acquisition of approximately 59.5 acres referred to in this <br />agreement, and more particularly described in Exhibit "A" attached hereto and <br />incorporated herein by reference, will enhance the protection of environmental areas along <br />SOM Center Road in Mayfield Village, and provide for recreational and park facilities that <br />will benefit all residents; and <br />WHEREAS, the purchase price will involve the exchange of certain properties <br />previously acquired by the Village and which will be used for payment of the purchase <br />price referred to herein in part. <br />NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF MAYFIELD <br />VILLAGE, OHIO, THAT: <br />SECTION 1. That the Mayor and Director of Finance are hereby and herein <br />authorized and directed to enter into a purchase agreement with Progressive Resource <br />Services Company, formerly known as Transportation Recoveries, Inc., in a form <br />comparable to that set forth in Exhibit "A", attached hereto and incorporated herein by <br />reference, as and for the acquisition of approximately 59.5 acres, more particularly <br />described in Exhibit "A". <br />SECTION 2. That the Director of Finance is authorized to make payment of the <br />purchase price referred to in Section 2 of the Purchase Agreement by way of properties <br />and other credits and other financing as approved by Village Council previously hereto, <br />or as may be granted hereafter. <br />SECTION 3. This Agreement will also include the donation of a 20 foot wide strip <br />-.~ _ of land west of SOM Center Road, from Progressive to the Village of Mayfield to <br />rt- <br /> <br />i <br />