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"t 't. RESOLUTION N0.2008-07 Introduced by Mayor Rinker and Council as a Whole A RESOLUTION EXPRESSING THE VILLAGE'S SUPPORT OF THE 600 BETA DRIVE REDEVELOPMENT PROJECT AND AUTHORIZING THE MAYOR AND THE DIRECTOR OF FINANCE TO SEEK FINANCIAL ASSISTANCE FROM THE CUYAHOGA COUNTY COMMISSIONERS THROUGH THE MUNICIPAL COMMERCIAL REDEVELOPMENT FUND AND DECLARING AN EMERGENCY. WHEREAS, the Cuyahoga County Commissioners have established through. their Department of Development the Municipal Commercial Redevelopment Fund ("CRF") to facilitate the redevelopment and revitalization of vacant or underutilized commercial sites throughout Cuyahoga County; and WHEREAS, the expected outcome of the redevelopment and revitalization of vacant or underutilized commercial sites throughout Cuyahoga County is to create jobs and increase property values; and WHEREAS, Mayfield Village is working with the prospective owners of 600 Beta Drive to renovate and revitalize the 100,000 square foot building located thereon which has been vacant for the past several years, ("the 600 Beta Drive Development Project"); and WHEREAS, such commercial improvement and commercial revitalization hereinabove described is considered to be a priority need and an economic benefit for Mayfield Village, Cuyahoga County, and the State of Ohio with the expected outcome to create jobs and increase the subject property's value and is a qualified redevelopment project under the CRF; and WHEREAS, the Village has worked with the prospective owner to draft a development agreement to facilitate this public private partnership in coordination with the objectives of the CRF; and WHEREAS, the Mayor and Village Council wish to express their support for the 600 Beta Drive Redevelopment Project. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF MAYFIELD VILLAGE, OHIO, THAT: SECTION 1: The Mayor and Village Council express their support of the 600 Beta Drive Redevelopment Project.