Explanation
The City owns a building located at 1393 E. Broad Street that currently houses the Near East Neighborhood Pride Center and three non-profit corporation tenants. The leases for the three non-profit tenants, AARP Foundation, Central Ohio Minority Business Association (COMBA), and Grandparents Living Theatre, dba Senior Repertory of Ohio Theater Company (SRO), will expire on September 30, 2012. These organizations desire to remain in the building and the City wishes to enter into new lease agreements with these existing non-profit tenants. This ordinance authorizes the Director of the Department of Finance and Management to execute those documents necessary to enter into new lease agreements with the three existing tenants.
Fiscal impact: Passage of this ordinance will allow the City to continue to receive monthly rental of $3,901 for deposit into the "General Permanent Improvement Fund," Project #590701, Fund #748, to offset building operating expenses.
Title
To authorize the Director of the Department of Finance and Management to enter into lease agreements with AARP Foundation, Central Ohio Minority Business Association, and Grandparents Living Theatre, dba Senior Repertory of Ohio Theater Company, for that City-owned property at 1393 East Broad Street.
Body
WHEREAS, the City of Columbus, Ohio owns certain real property commonly known as 1393 East Broad Street; and
WHEREAS, the City of Columbus desires to enter into lease agreements with AARP Foundation (1,242 square feet), Central Ohio Minority Business Association (2,135 square feet), and Grandparents Living Theatre, dba Senior Repertory of Ohio Theater Company (574 square feet) for office space in this building; now therefore,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the Director of the Department of Finance and Management be, and hereby is, authorized to execute those documents, as approved by the Department of Law, Division of Real Estate, necessary to ...
Click here for full text