Explanation
Background: The City of Columbus, ("Tenant") entered into a Lease Agreement with The 3042 McKinley Trust, dated May 19, 2006 for the lease of approximately 15,292 square feet of space located at 3042 McKinley Avenue, Columbus, Ohio 43204. The Tenant now desires to enter into a Lease Extension with The 3042 McKinley Company ("Landlord"), an Ohio limited liability company, as successor in interest to The 3042 McKinley Trust, pursuant to an Assignment and Assumption Agreement dated May 4, 2007. The office space will be used in the daily operations of the Department of Public Safety, Columbus Police Department. After investigation by the Department of Public Safety, it has been determined that the extension of the lease is in the best interest of the City and should be allowed. The following legislation authorizes the Director of the Department of Finance and Management to execute those documents necessary to enter into a six (6) month lease extension with The 3042 McKinley Company, with the City having the option to extend the lease for an additional (6) months, as long as the City gives the landlord notice of its desire to extend prior to the last month of the current term.
The 3042 McKinley Company Contract Compliance Number 31-6334544, expiration date 02/02/2009.
Fiscal Impact: The necessary amount for this lease extension was budgeted and appropriated in the Special Income Tax Fund, through Ordinance 0151-2007, passed 02/02/2007.
Emergency Justification: The term of the lease extension is to begin on October 1, 2007 and therefore emergency action is requested to allow for the immediate execution of the subject lease extension by the City as not to delay this time line.
Title
To authorize the Director of the Department of Finance and Management to execute those documents necessary to enter into a six (6) month lease extension with The 3042 McKinley Company with the City having the option to extend the lease for an additional (6) months, as long as the City gives the landlord notice of its desire to extend prior to the last month of the current term; to authorize the expenditure of $102,560.50 from the Special Income Tax Fund, and to declare an emergency.($102,560.50)
Body
WHEREAS, the City of Columbus, ("Tenant") entered into a Lease Agreement with The 3042 McKinley Trust, dated May 19, 2006 for the lease of approximately 15,292 square feet of space located at 3042 McKinley Avenue, Columbus, Ohio 43204; and
WHEREAS, the Tenant now desires to enter into a Lease Extension with The 3042 McKinley Company ("Landlord"), an Ohio limited liability company, as successor in interest to The 3042 McKinley Trust, pursuant to an Assignment and Assumption Agreement dated May 4, 2007; and
WHEREAS, the office space will be used in the daily operations of the Department of Public Safety, Columbus Police Department; and
WHEREAS, after investigation by the Department of Public Safety, it has been determined that the extension of the lease is in the best interest of the City and should be allowed; and
WHEREAS, an emergency exists in the usual daily operation of the City of Columbus, in that it is immediately necessary to authorize the Director of the Department of Finance and Management to execute, on behalf of the City, those documents necessary to enter into a six (6) month lease extension with The 3042 McKinley Company, with the City having the option to extend the lease for an additional (6) months, as long as the City gives the landlord notice of its desire to extend prior to the last month of the current term for the immediate preservation of the public health, peace, property and safety; 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 enter into Lease Extension by and between THE 3042 MCKINLEY COMPANY, "Landlord", an Ohio limited liability company, as successor in interest to The 3042 McKinley Trust, pursuant to an Assignment And Assumption Agreement dated May 4, 2007, and the CITY OF COLUMBUS, OHIO.
SECTION 2. That the terms and conditions of the lease extension shall be in form approved by the City Attorneys Office and shall include the following:
1. The term of said lease agreement is hereby extended for six (6) months from October 1, 2007 through March 31, 2008.
2. So long as Tenant is not in default hereunder, Tenant shall have the option to extend the term of this Lease for an additional six (6) months. If Tenant desires to extend the term hereof, Tenant shall give landlord notice of its desire to so extend prior to the last month of the then current term.
Except as noted, all other terms, conditions, covenants and provisions of the original Lease remain the same.
SECTION 3. That the expenditure of $102,560.50, or so much thereof that may be necessary in regard to the action authorized in Sections 1 and 2, be and is hereby authorized and approved as follows:
Division: 45-07
Fund: 430
OCA Code: 430457
Object Level 1: 03
Object Level 3: 3301
Amount: $102,560.50
SECTION 4. 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 passage and approval by the Mayor or ten days after passage if the Mayor neither approves nor vetoes the same.