Explanation
BACKGROUND: This legislation authorizes the Development Director to enter into a short term lease agreement with Columbus Housing Partnership and Stenson Powell Partnership for space located at 777 East Long Street within the Lincoln Theatre.
FISCAL IMPACT: The City will receive $1.00 per month for the term of the lease agreement (6 months). In addition, Columbus Housing Partnership and Stenson Powell Partnership shall pay a prorated share of operating expenses for the portion of the building occupied.
Emergency action is requested in order to meet the agreed occupancy dates.
Title
To authorize the Director of the Department of Development to enter into a short term lease agreement to lease city owned property at 777 East Long Street to Columbus Housing Partnership and Stenson Powell Partnership for $1.00 per month commencing September 13, 2004 through March 12, 2005; and to declare an emergency.
Body
WHEREAS, the City of Columbus owns certain real property known as 777 East Long Street; and
WHEREAS, the City of Columbus, Office of Land Management, has negotiated a mutually satisfactory lease agreement with Columbus Housing Partnership, an Ohio non-profit corporation, and Stenson Powell Partnership, an Ohio for-profit corporation, for the lease of said real property; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development, Office of Land Management, in that it is immediately necessary to enter into this lease agreement in order to meet the project timeline thereby preserving the public health, peace, property, safety, and welfare; and NOW THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the Director of the Department of Development is hereby authorized and directed to execute any and all documents approved as necessary to enter into a short term lease agreement by and between the City of Columbus, Ohio, Columbus Housing Partnership and Stenson Powell Partnership for a certain real property known as 777 East Long Street, Columbus, Ohio for $1.00 per month commencing September 13, 2004 through March 12, 2005.
Section 2. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is hereby declared to be an emergency measure and shall take effect and be in force from and after its approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.