Title
A RESOLUTION AUTHORIZING A LEASE TERMINATION AGREEMENT WITH THE SUMMIT METRO PARKS AND THE EXECUTION OF RELATED DOCUMENTS, AND DECLARING AN EMERGENCY.
Brief Description: This legislation authorizes the City Manager to execute a settlement agreement with Summit Metro Parks, terminating a Lease Agreement between the City and the Metro Parks for Maple Grove.
Body
Legislative History
None
Purpose & Explanation
Background
In 2009, the City acquired approximately 427.901 acres of the former Youth Development Center property located at 996 Hines Hill Road in the City of Hudson (the “YDC Property”), with title initially held by the County of Summit, Ohio, as trustee for the benefit of the City. In furtherance of the acquisition and intended preservation and use of portions of the YDC Property for public park and open-space purposes, the City, the County of Summit, Ohio, Trustee, and Metro Parks, Serving Summit County (now known as the Summit Metro Parks (“Metro Parks”), entered into an Intergovernmental Agreement for the Hines Hill Road - Youth Development Center Park Project in 2012 (the “Intergovernmental Agreement”). The Intergovernmental Agreement included a ground lease of approximately 293 acres of the YDC Property to Metro Parks (the “Lease”) and contemplated the development, operation, and maintenance of the leased premises for public park purposes, including certain trail, trailhead, parking, and related improvements.
The Intergovernmental Agreement provided for an original ninety-nine (99) year term of the Lease commencing October 15, 2012, subject to certain termination provisions. In 2015, the County transferred title to the land to the City, leaving the City and Metro Parks as the remaining parties to the agreement.
Last year, the Metro Parks sent notice to the City of its desire to terminate the Intergovernmental Agreememt and demanded repayment of a portion of the funds the Parks had initially invested in support of the property’s original acqui...
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