Explanation
Background: In 1990, the City of Columbus, Franklin County and the Franklin County Convention Facilities Authority (the "FCCFA") entered into a Lease Agreement and Sublease Agreement involving the Greater Columbus Convention Center, which included real property owned in fee simple by the City of Columbus and by the FCCFA, for the purpose of facilitating the issuances of revenue bonds for the expansion of the convention center. Since 1990, the FCCFA has purchased additional property for use in conjunction with the -Convention Center and a series of lease and sublease amendments have been executed to add property to the lease and sublease premises. The last amendment was in 1998. Since 1998 the FCCFA has acquired fee title to additional real property for use as part of the convention center. In addition the FCCFA wishes to enter into a favorable agreement with NWD Investors LLC for the exchange of real property interests, which will enhance the operations of the convention center facilities. Amendments to the Lease Agreement and Sublease Agreements are required to make property acquired subsequent to 1998 part of the lease premises and to authorize the conveyance to and from NWD Investors LLC.
Fiscal Impact: N/A
Emergency Justification: Emergency action is requested to permit the exchange of real property between the FCCFA and NWD Investors LLC, to occur quickly and to further the pending developments by the FCCFA and NWD Investors LLC.
Title
To authorize the Mayor to sign Addendum No. 3 to First Supplement to Lease Agreement and Addendum No.3 to First Supplement to Sublease Agreement among the City of Columbus, Ohio, the County of Franklin, Ohio, and the Franklin County Convention Facilities Authority, and to declare an emergency
Body
WHEREAS, in 1990 the City of Columbus, Ohio (the "City"), the County of Franklin, Ohio (the "County") and the Franklin County Convention Facilities Authority (the "Authority") entered a Lease Agreement and Sublease Agreement for the convention facility known as "The Greater Columbus Convention Center"; and
WHEREAS, since 1990 the original Lease and Sublease Agreements have been amended several times; and
WHEREAS, since the last amendment the Authority has acquired additional property which needs to be added to the premises of the Lease and Sublease Agreements; and
WHEREAS, the Authority desires to exchange some property with NWD Investors, LLC, which exchange needs to be consented to by the City and County and which will alter the lease premises; and
WHEREAS, it is necessary to authorize the Mayor to sign Addendum No. 3 to First Supplement to Lease Agreement and Addendum No. 3 to First Supplement ot Sublease Agreement in order to add property to the leased and subleased premises and permit the exchange of property between the Authority and NWD Investors, LLC; and
WHEREAS, an emergency exists in the usual daily operation of the Office of the Mayor in that it is immediately necessary to authorize the Mayor to sign the proposed Lease and Sublease Amendments to permit the exchange of real property between the FCCFA and NWD Investors LLC to occur quickly and to further the pending developments by the FCCFA and NWD Investors LLC, thereby preserving the public health, peace, property, safety and welfare; now , therefore:
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. The Mayor is hereby authorized to execute an Addendum No. 3 to First Supplement to Lease Agreement and Addendum No. 3 to First supplement to Sublease Agreement among the city of Columbus, Ohio, the County of Franklin, Ohio and the Franklin county Convention Facilities Authority in substantially the form on file in the Mayor's Office and as approved by the Department of Law, Real Estate Division.
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 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.