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CITY OF NORTH OLMSTED ORDINANCE NO.2025 - 59 BY: Mayor Jones AN ORDINANCE AUTHORIZING THE MAYOR TO NEGOTIATE AND ENTER INTO AN AGREEMENT WITH THE NORTH OLMSTED BOARD OF EDUCATION TO PURCHASE SCHOOL DISTRICT -OWNED REAL PROPERTY COMMONLY KNOWN AS CHESTNUT INTERMEDIATE SCHOOL, MAPLE INTERMEDIATE SCHOOL AND PINE INTERMEDIATE SCHOOL IN CONSIDERATION OF THREE MILLION, THREE HUNDRED THIRTY THOUSAND DOLLARS. WHEREAS, in 2022, the Board of Education of the North Olmsted City School District, an Ohio public school district and political subdivision ("School District"), sold Forest Elementary School and surrounding properties and Spruce Elementary School and surrounding properties to the City of North Olmsted, a municipal corporation and political subdivision for potential residential redevelopment; and WHEREAS, consistent with this Council and Administration's goal, the former Forest School site is ready to commence construction of residential housing; and WHEREAS, in the contract to purchase Forest and Spruce, the City of North Olmsted acquired an option, based upon appraisals, to purchase Maple, Pine and Chestnut Intermediate Schools with the intent to acquire the same and also make them available for redevelopment; and WHEREAS, the City now wishes to exercise that option and acquire the following properties from the North Olmsted Board of Education for potential redevelopment: A. Chestnut Intermediate School located at 30395 Lorain Road, North Olmsted, Ohio 44070, and identified in the records of the Fiscal Officer of the County of Cuyahoga, Ohio, as Parcel Identification Nos. 234-15-004, 234-15-017, 234- 15-088 and 234-16-004 ($1,550,000.00); and B. Maple Intermediate School located at 24101 Maple Ridge Road, North Olmsted, Ohio 44070, and identified in the records of the Fiscal Officer of the County of Cuyahoga, Ohio, as Parcel Identification Nos. 231-21005, 231-21-022, 232- 21-063 and 231-23-030 ($680,000.00); and C. Pine Intermediate School located at 4267 Dover Center Road, North Olmsted, Ohio 44070, and identified in the records of the Fiscal Officer of the County of Cuyahoga, Ohio, as Parcel Identification No. 232-23-132 ($1,100,000.00). WHEREAS, it is the desire of Council to authorize the Mayor and Director of Law to negotiate and enter into an Agreement with the Board of Education to purchase Maple, Pine and Chestnut Intermediate Schools pursuant to and consistent with the terms and conditions outlined in the Agreement, attached as Exhibit A. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF NORTH OLMSTED, COUNTY OF CUYAHOGA, AND STATE OF OHIO: