4. ORDINANCE 07-2021 - AN ORDINANCE to take effect immediately provided it receives the vote of at least two thirds of the members of Council, or otherwise to take effect at the earliest period allowed by law, declaring improvement to real property within the City of Lakewood, Ohio to be a public purpose; exempting such improvement from real property taxation; requiring the owners of the property to make service payments in lieu of real property taxes; establishing an urban redevelopment tax increment equivalent fund for the deposit of service payments, making related authorizations pursuant to Ohio Revised Code Sections5709.41, 5709.42, 5709.43 AND 5709.83; and authorizing a service payment agreement in connection with the same. (1st read and referred to HPD 2/1/21) (pg. 023)