05/19/2008 Meeting Minutes - Laserfiche WebLink

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Regular Council Meeting 5-19-08 Page 7 ? Mrs. Mills, seconded by Mrs. Cinco, made a motion to enact Ordinance No. 2008-18. Council President Buckholtz asked if there was any discussion. Mr. Brett reported that this is the next step in the Commercial Redevelopment Fund financed from Cuyahoga County. We are one of two cities who applied. We are the only one who received financing. This will be used to purchase and renovate 600 Beta at the rate of 3.8-3.9%. Panzica is a partner. It is a$3,000,000.00 renovation. The loan is on a no- interest basis until they get an occupancy permit. Mr. Marquardt asked if this will involve any Village money. Mr. Brett replied that it will not involVe any Village money. Mr. Buckholtz added that we are the co-signor until they get the occupancy permit. ROLL CALL: AYES: All NAYS: None Motion Carried Ordinance Enacted First Reading of Ordinance No. 2008719, entitled "An emergency ordinance levying special assessments for the improvement of Highland Road and certain other designated streets between certain termini by constructing sanitary sewers, sanitary sewer service connections and manholes, installing where necessary, force mains and storm sewers, and replacing, where necessary, pavement and driveway aprons, altogether with the necessary appurtenances thereto." Introduced by Mayor Rinker and Council as a Whole. Mr. Saponaro, seconded by Mrs. Cinco, made a motion to suspend the rules of Council requiring an Ordinance to be read on three separate occasions._ ROLL CALL: AYES: All NAYS: None Motion Carried Rules Suspended Mr. Saponaro, seconded by Mrs. Cinco, made a motion to enact Ordinance No. 2008-19. Council President Buckholtz asked if there was any discussion. Mr. Brett reported that residents benefit from this assessment. They are assessed 25% of the actual cost over 20 years at the rate of 3.75%. ROLL CALL: AYES: All NAYS: None Motion Carried Ordinance Enacted