DRAFT NO. 11-24 ORDINANCE NO. 2011-26 AN ORDINANCE AMENDING THE DEVELOPMENT AGREEMENT BETWEEN THE CITY OF KENT AND PIZZUTI BUILDERS, LLC. DATED NOVEMBER 19, 2010, ORDINANCE NO. 2010-106, PASSED NOVEMBER 17, 2010, TO EXTEND THE INSPECTION PERIOD UNTIL MARCH 31, 2011, AND DECLARING AN EMERGENCY. WHEREAS, the Kent City Council authorizes the Amendment to the Development Agreement between the City of Kent and Pizzuti Builders, LLC. to extend the inspection period until March 31, 2011; and WHEREAS, the Kent City Council wishes to accept the Amendment to the Development Agreement. NOW, THEREFORE, BE IT ORDAINED by the Council of the City of Kent, Portage County, Ohio, at least three-fourths (3/4) of all members elected thereto concurring: SECTION 1. That Council does hereby accept the Amendment to the Development Agreement between City of Kent and Pizzuti Builders, LLC. to extend the inspection period until March 31, 2001, in substantial conformance with a copy attached hereto and incorporated herein, marked as Exhibit "A" SECTION 2. That it is found and determined that all formal actions of this Council concerning and relating to the adoption of this Ordinance were adopted in an open meeting of this Council and that all deliberations of this Council, and of any of its committees that resulted in such formal action, were in meetings open to the public in compliance with all legal requirements of Section 121.22 of the Ohio Revised Code. SECTION 3. That this ordinance is hereby declared to be an emergency measure necessary for the immediate preservation of the public peace, health, safety and welfare of the residents of this City, for which reason and other reasons manifest to this Council this ordinance is hereby declared to be an emergency measure and shall take effect and be in force immediate after passage. PASSED: 04/20/2011 DATE MAYOR & PRESIDENT OF COUNCIL ATTEST: CLERK OF COUNCIL I hereby certify that Ordinance No. 2011-26 was duly enacted this 20 day of April, 2011 by the Council of the City of Kent, Ohio. CLERK OF COUNCIL
EXHIBIT A AMENDMENT TO DEVELOPMENT AGREEMENT THIS AMENDMENT TO DEVELOPMENT AGREEMENT (the "Amendment") is made and entered into this day of March, 2011, by and between the CITY OF KENT, OHIO, a municipal corporation duly organized and existing under and by virtue of the constitution and laws of the State of Ohio and a duly adopted Charter (hereinafter referred to as the "City"), and PIZZUTI BUILDERS LLC, an Ohio limited liability company (hereinafter referred to as the "Redeveloper"). W I T N E S SETH: WHEREAS, the City and Redeveloper have previously entered into a Development Agreement dated November 19, 2010 (the "Original Agreement") pertaining to the Property and the Private Improvements (as such terms are defined in the Original Agreement); and WHEREAS, terms not defined herein shall have the meanings given to them in the Original Agreement; and WHEREAS, the parties desire to amend the Original Agreement as hereinafter set forth; NOW THEREFORE, in consideration of the premises and covenants contained herein, the parties agree as follows: Section 1. Amendments. The original Agreement is amended as follows: Subsection (b) of the Section 1 of the Original Agreement is hereby deleted in its entirety and replaced with the following: "(b) The Redeveloper shall have until March 31, 2011 (the "Inspection Period") to conduct such tests, inspections and examinations of the Property (the "Inspections") as the Redeveloper deems reasonably necessary. If the Redeveloper, in its good faith reasonable discretion, determines within the Inspection Period that the results of the Inspections of the Property will not permit the Property to be reasonably utilized for the Private Improvements or if the results are not satisfactory to any entity providing financing to the Redeveloper, then the Redeveloper shall so advise the City in writing prior to the expiration of the Inspection Period and this Agreement shall terminate." Exhibit B to the Original Agreement is hereby deleted in its entirety and replaced with Exhibit B attached to this Amendment.
Section 2. Miscellaneous.1. This Agreement may be signed in several counterparts, each of which shall be an original but all of which shall constitute but one and the same instrument. 2. Except as modified by this Amendment, the Original Agreement shall remain in full force and effect as set forth therein. The parties hereby ratify and confirm the Original Agreement as amended by this Amendment. IN WITNESS WHEREOF, the City of Kent, Ohio and Pizzuti Builders LLC have each caused this Amendment to be duly executed in its behalf on or as of the day and year first above written. CITY OF KENT, OHIO Approved as to form And correctness By City Manager Law Director PIZZUTI BUILDERS, LLC. By Title: STATE OF OHIO ) COUNTY OF PORTAGE ) ) SS:
Before me a Notary Public in and for said County and State, personally appeared David Ruller, the City Manager for the City of Kent, Ohio, who acknowledged that he signed the foregoing instrument as the fully authorized officer of said City of Kent, Ohio, a municipal corporation of the State of Ohio, and that the same is its free act and deed and his free act and deed, respectively, as such officer and individually. IN WITNESS WHEREOF, I have hereunto set my hand and official seal at, Ohio, this day of, 2011. NOTARY PUBLIC (SEAL) COUNTY OF ) ) SS: ) Before me a Notary Public in and for said County and State, personally appeared, the of Pizzuti Builders LLC, an Ohio limited liability company, who acknowledged that he did sign the foregoing instrument on behalf of such company as the free act and deed of himself and of the company. IN WITNESS WHEREOF, I have hereunto set my hand and official seal at, Ohio, this day of, 2011.
NOTARY PUBLIC EXHIBIT B PRIVATE IMPROVEMENTS The Private Improvements consist of an approximately 76,300 square foot hotel and conference center, including approximately 95 guest rooms, a swimming pool, a fitness center, a business center, lounge and great room, dividable conference space with banquet seating for 300 and a kitchen. The Redeveloper's Project Plans shall be designed to comply to the extent financially feasible, as determined by the Redeveloper, with the Leadership in Energy and Environmental Design (LEED) silver standard, although the Redeveloper is not required to apply for LEED certification.