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TO AUTHORIZE THE MAYOR TO ENTER INTO ASSIGNMENT, ASSUMPTION AND CONSENT AGREEMENT WITH THE CENTRAL OHIO COMMUNITY IMPROVEMENT CORPORATION AND VALUE RECOVERY GROUP II, LLC
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WHEREAS, the partnership between the City and Central Ohio Community Improvement Corporation (COCIC) needs to be amended to reflect a recent transfer of ownership of a portion of the Central Park of Gahanna site to Value Recovery Group II, LLC; and
WHEREAS, the Department of Planning and Development believes that this arrangement continues to fulfill the original intent of the developer's agreement and subsequent amendments;
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GAHANNA, STATE OF OHIO:
Section 1. That the Mayor is hereby authorized to enter into Assignment, Assumption and Consent Agreement by and between the City of Gahanna, Ohio, Central Ohio Community Improvement Corporation, and Value Recovery Group II, LLC relating to the Central Park of Gahanna project, said agreement attached hereto as EXHIBIT A.
Section 2. That this ordinance shall be in full force and effect after passage by this Council and 30 days after date of signature approval by the Mayor.