Explanation
Background: This legislation authorizes the Director of Finance and Management to execute a First Amendment to Lease Agreement with The Columbus Urban League, as Tenant, for 2,904 rentable square feet of office space located at 475 Elwood Avenue. The Columbus Urban League has been a tenant of the building since 2007 as the site of the Southside Head Start Child Care Center providing early education services. The existing lease with The Columbus Urban League is due to expire on October 31, 2022 and has no renewal options remaining, therefore it is necessary to enter into a First Amendment to Lease Agreement in order to add three (3) additional one (1) year renewal options.
Fiscal Impact: The first additional renewal term of the First Amendment to Lease Agreement will generate an annual rental income to the City of $17,424.00.
Title
To authorize the Director of Finance and Management to execute a First Amendment to Lease Agreement with The Columbus Urban League for space leased at 475 Elwood Avenue.
Body
WHEREAS, the Department of Finance and Management, through its Real Estate Management Office, leases space at the City-owned property at 475 Elwood Avenue to The Columbus Urban League as the site of the Southside Head Start Child Care Center; and
WHEREAS, The Columbus Urban League desires to extend its occupancy and operation of its successful Head Start program at this location which the Department of Finance and Management supports; and
WHEREAS, the Department of Finance and Management supports the extension of the Lease Agreement for use of City property as the Southside Head Start Child Care Center; and
WHEREAS, it is necessary to enter into a First Amendment to Lease Agreement with the Tenant, The Columbus Urban League, to provide three (3) additional consecutive renewal terms and establish the rental rate for each term; and
WHEREAS, it has become necessary in the usual daily operation of the Department of Finance and Manageme...
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