File #: 738-2025    Version: 1 Name:
Type: Emergency Ordinance Status: Passed
File created: 5/30/2025 In control: City Council
On agenda: 6/2/2025 Final action: 6/2/2025
Passage/adoption date:
Effective date:    
Title: AN EMERGENCY ORDINANCE Authorizing the Mayor and the Commissioner of Purchases and Supplies to sell certain City-owned property no longer needed for the City’s public use located at 5701 Carnegie Avenue, Cleveland, Ohio 44103 and known as the Warner and Swasey building to Pennrose Holdings, LLC, or its designee, for purposes of affordable housing and commercial development; authorizing the Director of Economic Development to enter into a forgivable or non-forgivable loan agreement with Pennrose Holdings, LLC, or its designee, to provide assistance to partially finance the redevelopment of the Warner and Swasey and other associated costs necessary to redevelop the property.
Sponsors: Richard A. Starr, Anthony T. Hairston, Blaine A. Griffin, By Departmental Request
Indexes: CITY-OWNED PROPERTY , ECONOMIC DEVELOPMENT DEPARTMENT, LOAN AGREEMENT, PURCHASES AND SUPPLIES DIVISION, WARD 05
Attachments: 1. 738-2025-FOR PASSAGE-cd-Agreement w Pennrose Holdings for sale of Warner and Swasey buildling and loan, 2. 738-2025-Legis Summary, 3. 738-2025-FP letter-Agreement w Pennrose Holdings for sale of Warner and Swasey buildling and loan

Title

AN EMERGENCY ORDINANCE Authorizing the Mayor and the Commissioner of Purchases and Supplies to sell certain City-owned property no longer needed for the City’s public use located at 5701 Carnegie Avenue, Cleveland, Ohio 44103 and known as the Warner and Swasey building to Pennrose Holdings, LLC, or its designee, for purposes of affordable housing and commercial development; authorizing the Director of Economic Development to enter into a forgivable or non-forgivable loan agreement with Pennrose Holdings, LLC, or its designee, to provide assistance to partially finance the redevelopment of the Warner and Swasey and other associated costs necessary to redevelop the property.