DOCKET OF A MEETING OF THE LAKEWOOD CITY COUNCIL TO ...
DOCKET OF A MEETING OF THE LAKEWOOD CITY COUNCIL TO ...
DOCKET OF A MEETING OF THE LAKEWOOD CITY COUNCIL TO ...
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WHEREAS this Council by a vote of at least five 5 members elected hereto determines<br />
that this ordinance is an emergency measure and that this ordinance shall take effect at the<br />
earliest date possible as set forth in ARTICLE III SECTIONS 10 and 13 of the SECOND AMENDED<br />
CHARTER <strong>OF</strong> <strong>THE</strong> <strong>CITY</strong> <strong>OF</strong> <strong>LAKEWOOD</strong> and that immediate action is necessary to provide for the<br />
preservation of the public health safety and welfare and for the reason that financial assistance<br />
provided under the EDF is an investment in the City of Lakewood which promotes business<br />
redevelop rent generates 3cbs increastax revenues and prav des forphysr Fmprd en<br />
thereby stabilizing the community and improving the quality of life within the City and to<br />
encourage construction before weather conditions prohibit construction NOW <strong>THE</strong>REFORE<br />
BE IT ORDAINED BY <strong>THE</strong> <strong>CITY</strong> <strong>OF</strong> <strong>LAKEWOOD</strong> STATE <strong>OF</strong> OHIO<br />
Section 1<br />
That the Mayor or his designee is hereby authorized and directed to enter into<br />
an<br />
agreement with University Tees Inc or its designee for participation in the Lakewood Business<br />
Investment Program BIP of the Economic Development Fund EDF for a five 5 year loan in an<br />
amount of Fifty Thousand Dollars50 000<br />
to finance capital equipment facilitate job growth<br />
a locate business operations in Lakewood Ohio in compliance with and under the terms of the<br />
Business Investment Program of the Economic Development Fund said agreements to contain<br />
such terms and conditions as deemed necessary by the Director of Law to protect the public<br />
interest<br />
Section 2<br />
It is found and determined that all formal actions of this Council<br />
concerning<br />
and relating to thepassage of this Ordinance were<br />
adopted in an<br />
open meeting of this Council<br />
and that all such deliberations of this Council and any of its committees that resulted in such<br />
formal actions were in meetings open to the public in compliance with all legal requirements<br />
Section 3 This Ordinance is hereby declared to be an<br />
emergency measure for the<br />
reasons set forth and defined in the preamble of this Ordinance and provided it receives the<br />
affirmative vote of at least five 5 of its members elected to Council this Ordinance shall take<br />
effect and be in force at the earliest date possible upon its adoption by the Council and approval<br />
by the Mayor<br />
Adopted<br />
President<br />
Clerk of Council<br />
Approved<br />
Mayor<br />
cf