Explanation
BACKGROUND: On December 15, 2006, Parkwick Professional Plaza, LLC purchased property leased by the Finance and Management Department, for use by the Public Safety Department. The previous owner was LVR, Inc. This ordinance authorizes the assignment of all present and future business done by the City of Columbus relating to lease agreement with LVR, Inc., FIN 31-1212072, to Parkwick Professional Plaza, LLC., FIN 208016434. This ordinance also authorizes the City Auditor to assign the fund balance of purchase order DL012399 of $146,775.00, which was approved by City Council on April 5, 2006 by Ordinance #0587-06, Certificate AC 025672, to Parkwick Professional Plaza, LLC.
Emergency action is requested so that Parkwick Professional Plaza, LLC may be paid in a timely fashion. The next rental payment is due on March 1, 2007.
Fiscal Impact: No additional funds are needed for this assignment.
Title
To authorize the City Auditor to assign the remaining purchase order balance; and to authorize the Finance and Management Director to assign all present and future City of Columbus business with LVR, Inc. to Parkwick Professional Plaza, LLC., and to declare an emergency. ($-0-)
Body
WHEREAS, the Finance and Management Director contracts with LVR, Inc. for leased property used by the Public Safety Department, and
WHEREAS, LVR, Inc., FIN 31-1212072, has sold the leased property to Parkwick Professional Plaza, LLC, FIN 208016434, and
WHEREAS, in order for the Finance and Management Department to pay the new property owner at the time payment is due, it is necessary to assign all present and future business relating to the lease agreement with LVR, Inc. to Parkwick Professional Plaza, LLC, including the balance of $146,775.00 encumbered on purchase order DL012399, and
WHEREAS, an emergency exists in the usual daily operation of the Finance and Management Department, in that it is immediately necessary to authorize the City Auditor and the Finance and Management Director to make such an assignment to Parkwick Professional Plaza, LLC, so that all documents and rent payments are properly made for this space used by the Public Safety Department, 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. That the Finance and Management Director be and is hereby authorized to assign to Parkwick Professional Plaza, LLC, all present and future City business relating to lease agreement with LVR, Inc. and execute all documents necessary thereto.
SECTION 2. That the City Auditor be and is hereby authorized to assign to Parkwick Professional Plaza, LLC, the fund balance of $146,775.00 encumbered on purchase order DL012399 with the same funding source and cost codes.
SECTION 3. 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.