Title
TO AUTHORIZE THE MAYOR TO ENTER INTO PURCHASE AGREEMENT WITH JAMES M. RYAN AND JAMES M. RYAN, TRUSTEE FOR JAMES M. RYAN FAMILY TRUST I, II, III, IV, AND V, FOR PROPERTY LOCATED ON JOHNSTOWN ROAD AND CONSISTING OF 12 ACRES, MORE OR LESS; TO SUPPLEMENTALLY APPROPRIATE $1,500,000 THEREFOR; AND TO DECLARE AN EMERGENCY.
Body
WHEREAS, the owner and trustee of 12 acres, more or less, of real estate located on Johnstown Road has submitted a Letter of Understanding under date of June 21, 1999, for the purchase of said 12 acres, more or less; and
WHEREAS, it is the desire of the City, after careful deliberation, and upon the recommendation of the Administration to pursue the acquisition of this real estate for development purposes; and
WHEREAS, land acquisition must be secured at an early date to effect City ownership at an appropriate date for orderly sequence of projects needed to make this a viable growth and development area--all for the preservation of the public peace, health, safety, and welfare;
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 agreement with James M. Ryan and James M. Ryan, Trustee for James M. Ryan Family Trust I, II, III, IV, and V, in accordance with Letter of Understanding, dated June 21, 1999, said Letter attached to this ordinance as EXHIBIT A.
Section 2. That the amount of One Million Five Hundred Thousand Dollars ($1,500,000) is hereby supplementally appropriated from the General Fund to Account No. 101.343.5511, Development, Capital Projects, to cover the herein costs.
Section 3. That Ordinance No. 990001, passed January 2, 1999, is hereby amended to reflect this supplemental appropriation.
Section 4. That, for the reasons set forth in the preamble herein above, this ordinance is declared emergency legislation, and shall be in full force and effect immediately upon passage and approval by the Mayor.