Explanation
BACKGROUND: The purpose of this ordinance is to give the Director of the Department of Development the authority to enter into a Memorandum of Understanding (MOU) with the Lincoln Theatre Association and the Ohio Cultural Facilities Commission (Commission). This MOU serves as interim confirmation of the Commission's commitment to provide State funding and identifies various actions and/or conditions that must be fulfilled by the Lincoln Theatre Association prior to the Commission approving the expenditure of $350,000 for the renovation of the Lincoln Theatre. While the MOU is between the Lincoln Theatre Association and the Commission, the City serves as a signator on the agreement because it is the Lessor and Fee Simple Owner of the premises.
Emergency action is requested to allow the Director of Development to enter into the MOU with the Lincoln Theatre Association and Ohio Cultural Facilities Commission in order to meet the deadline required by the Commission for submission.
FISCAL IMPACT: There are no immediate costs to the City associated with the MOU.
Title
To authorize the Director of the Department of Development to enter into a Memorandum of Understanding and the estoppel agreement referenced therein with the Lincoln Theatre Association and the Ohio Cultural Facilities Commission; and to declare an emergency.
Body
WHEREAS, the City of Columbus owns certain real property commonly known as the Lincoln Theatre, 769 E. Long Street, Columbus, Ohio 43203; and
WHEREAS, the City of Columbus, as the fee simple owner of the premises, entered into a lease agreement with the Lincoln Theatre Association for the use of the Facility for a term commencing on July 23, 2007 and terminating on July 22, 2106; and
WHEREAS, on behalf of the City of Columbus, Ohio, the Director of Development, as the Lessor and fee simple owner, desires to enter into the MOU and estoppel agreement referenced therein; 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 Development to enter into an agreement with the Lincoln Theatre Association and the Commission in order to meet the deadline required by the Commission for submission, all for the 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 is hereby authorized to enter into a Memorandum of Understanding and the estoppel agreement referenced therein with the Lincoln Theatre Association and the Ohio
Cultural Facilities Commission.
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 passage and approval by the Mayor or ten days after passage if the Mayor neither approves nor vetoes the same.