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:... CITY OF NORTH OLMSTED ORDINANCE NO. 94103 BY: MAYOR EDWARD BOYLE AN ORDINANCE PRESERVING THE RIGHT OF THE CITY OF NORTH OLMSTED TO CONTINUE TO MAINTAIN CERTAIN AREAS IN THE CITY OF NORTH OLMSTED AS COMMUNITY REINVESTMENT AREAS (CRA's) AS PROVIDED IN ORDINANCE 91-175 ADOPTED FEBRUARY I8, 1992, AND DECLARING AN EMERGENCY. WHEREAS, this Council adopted Ordinance 91-175 under the provisions of ORC 3735.65 through 3735.70 establishing a community reinvestment area whereby this Council was authorized to provide tax incentives; to attract new construction, improve property values, maintain existing structures, create new employment opportunities and the like; and WHEREAS, the Ohio Legislature adopted amended Substitute S.B. 19, drastically limiting municipalities with respect to tax incentives, yet providing for the preservation of the existing C.R.A.'s which are currently under consideration, provided that those areas are defined by the Council prior to the effective date of the new law; and WHEREAS, the Mayor has reviewed all outstanding proposals and areas under consideration within the City and desires to memorialize the same by specifying those areas in this Ordinance; and WHEREAS, because amended Substitute S.B. 19 Section 5717.02 C(2) permits projects that have been identified specifically in an ordinance or resolution form to be exempted under the existing Community Reinvestment Act and it is Council's desire to do so herein. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF NORTH OLMSTED, COUNTY OF CUYAHOGA AND STATE OF OHIO: SECTION 1: That pursuant to Amended Substitute S.B. 19 new Section 5717.02 C(2) of the Ohio Revised Code, this Council hereby designates the areas indicated on exhibits A, B, C, and D as those areas that the City has identified and has been negotiating with businesses in good faith for relocation to said areas.