Explanation
Background: Since November 2002, the City has leased office/warehouse space located at 2028 Williams Road, from Viking Properties to house the Division of Fire's central warehouse operations. The current Lease Agreement, as approved by City Council Ordinance 0073-2009, provided for an initial lease term of one year and subject to appropriation of funds by Columbus City Council, automatically renewed/extended upon the same terms and conditions for two (2) consecutive additional one (1) year terms, unless the City, furnished ninety (90) days prior notice of its intent to terminate the lease at the end of the then current term. The City's final renewal term under the current Lease Agreement will expire January 31, 2012.
The City and Viking Properties desire to amend the current Lease Agreement to extend its term by providing for two (2) consecutive additional one (1) year terms, under the same terms and conditions, including rent, at $108,793.04 per annum. All other terms, conditions, and provisions of the Lease Agreement will remain unchanged.
This legislation authorizes the Director of Finance and Management to execute an amendment to the current Lease Agreement to extend its term by providing for an additional two (2) consecutive additional one (1) year terms for the lease of office/warehouse space located at 2028 Williams Road, and authorizes the expenditure of $108,793.04 for the first of two (2) one (1) year renewals for the period February 1, 2012 to January 31, 2013.
Viking Properties Contract Compliance Number is 31-1358552, with an expiration date of 01/27/2013.
Fiscal Impact: This ordinance authorizes the expenditure of $108,793.04 from the Special Income Tax Fund as appropriated pursuant to ordinance 0173-2011, passed March 2, 2011.
Title
To authorize the Director of Finance and Management to execute an amendment to the current Lease Agreement to extend the term of the lease for office/warehouse space located at 2028 Williams Road, and authorizes the expenditure of $108,793.04 from the Special Income Tax Fund.
Body
WHEREAS, the City and Viking Properties entered into a Lease Agreement, effective February 1, 2009, for the lease of approximately 36,879 square feet within a building on property known as 2028 Williams Road, Columbus, Ohio 43207; and
WHEREAS, the City and Viking Properties desire to amend the Lease Agreement to extend its term for two (2) consecutive additional one (1) year terms under the same terms and conditions of the Lease including rent; and
WHEREAS, the City appropriated rental funds within the Special Income Tax Fund pursuant to Ordinance 0173-2011; and
WHEREAS, it is necessary to authorize the expenditure of $108,793.04 from the Special Income Tax Fund; now, therefore:
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the Director of Finance and Management be, and hereby is, authorized to execute an amendment to the Lease Agreement for office/warehouse space located at 2028 Williams Road, Columbus, Ohio 43207.
Section 2. That the terms and conditions of the amendment shall be in a form approved by the City Attorney's Office and shall include the following:
a) The Lease's term shall be amended to extend its term by providing for an additional two (2) consecutive additional one (1) year terms under the same terms and conditions contained in the Lease including rent.
b) All other terms, conditions, covenants, and provisions shall remain unchanged and in full force and effect.
Section 3. That the expenditure of $108,793.04 from the Special Income Tax Fund be, and is hereby approved as follows:
Division: 45-51
Fund: 430
OCA Code: 430459
Object Level 1:03
Object Level 3: 3301
Amount: $108,793.04
Section 4. That this ordinance shall take effect and be in force from and the earliest period allowed by law.