Explanation
Background: Ordinance 2114-2025 authorized the Director of the Department of Development to accept a deed for the properties located at 435 W. State Street (010-042704) and 122 McDowell Street (010-294272), Columbus, Ohio 43215 and to accept and amend existing lease agreements. The City seeks to enter into a new lease agreement with Innovation Franklinton, a newly established nonprofit corporation to manage the building. The entity was established in partnership with the Columbus Association of the Performing Arts.
Fiscal Impact: No funding is required for this legislation.
Title
To authorize the Director of Development to execute lease agreement for the property located at 435 W. State Street (010-042704). ($0.00)
Body
WHEREAS, By Ordinance 2114-2025, Columbus City Council authorized the Director of the Department of Development to accept deeds for the properties located at 435 W. State Street (010-042704) and 122 McDowell Street (010-294272), Columbus, Ohio 43215 from the Columbus Holding Group LLC and to amend lease agreements in place; and
WHEREAS, the City desires to enter into an agreement with Innovation Franklinton, an Ohio nonprofit corporation to manage 435 W. State Street (010-042704). Innovation Franklinton was established by the Columbus Association of the Performing Arts (CAPA), also an Ohio not for profit corporation, for this purpose; and
WHEREAS, it has become necessary in the usual daily operation, that it is necessary to authorize the Director of the Department of Development to execute a lease agreement with Innovation Franklinton, an Ohio nonprofit corporation to manage the building located at 435 W State Street (010-042704), for the immediate preservation of the public health, peace, property, safety and welfare; now, therefore;
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the Director of the Department of Development, or his designee, on the behalf of the City, be, and hereby is, authorized to enter into a lease agreement, as approved by the Department of Law, Division of Real Estate, for the certain improved real property identified as 421 and 435 W. State Street, Columbus Ohio 43215, Franklin County Tax Parcel 010-042704 with Innovation Franklinton, an Ohio nonprofit corporation.
SECTION 2. That the City Auditor is authorized to make any accounting changes necessary to ensure that this lease is properly accounted for and recorded accurately on the City’s financial records.
SECTION 3. That this ordinance shall take effect and be in force from and after the earliest period allowed by law.