Explanation
Background: The following legislation authorizes the Director of the Department of Finance and Management, on behalf of its Department of Public Utilities, to execute those documents necessary to enter into a lease agreement by and between the City and Gudenkauf Corporation (“Gudenkauf”) for a portion of land, comprised of approximately 1.212 +/- acres, out of the City’s real property on McKinley Avenue identified as Franklin County Tax Parcel No. 010-153709. The Gudenkauf Corporation, a locally-owned business, has outgrown the available space on its property at 2679 McKinley Avenue to meet its need for outdoor material storage and parking. In support of this locally-owned business, the City has, for several years, leased Gudenkauf a small area of land (approximately 1.212 +/- acres) out of the City’s adjacent property to use for material storage and parking. The previous land lease expired thus necessitating the need for a new lease. The Real Estate Management Office has negotiated a new lease with terms agreeable to the Department of Public Utilities. The lease will have an initial term of one year with six consecutive automatic one year renewal options. The City and Gudenkauf will each have the right to terminate the lease by providing one hundred twenty (120) days written notice.
Fiscal Impact: No funds are required. The City will receive annual lease income of $9,000.00 that will be deposited in the Water Operating Fund.
Title
To authorize the Director of the Department of Finance and Management to execute those documents necessary to enter into a Lease Agreement by and between the City of Columbus and Gudenkauf Corporation. ($0.00).
Body
WHEREAS, the City is the owner of certain real property located on McKinley Avenue identified as Franklin Tax Parcel No. 010-153709; and
WHEREAS, the City previously leased approximately 1.21 acres +/- of land out of that city-owned parcel on McKinley Avenue identified as Franklin County Tax Parcel No. 010-153709 to Gudenkauf Corporation; and
WHEREAS, this previous land lease between the City and Gudenkauf has expired thus necessitating the need for a new lease; and
WHEREAS, the City and Gudenkauf Corporation have agreed to terms and conditions for a new lease of the same approximately 1.21 +/- acre portion of land out of the City’s real property on McKinley Avenue identified as Franklin County Tax Parcel 010-153709; and
WHEREAS, after investigation by the City, it has been determined that the lease shall not adversely affect operations of the Department of Public Utilities and with its concurrence it has been determine that it is in the City's best interest to enter into a new lease agreement; and
WHEREAS, it is necessary in the usual daily operation of the Real Estate Management Office to authorize the Director Department of Finance and Management to enter into a lease agreement by and between the City of Columbus and the Gudenkauf Corporation for the lease of approximately 1.212 +/- acres of land out of Tax Parcel No. 010-153709; now, therefore;
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the Director of the Department of Finance and Management, on behalf of the Department of Public Utilities, be, and hereby is, authorized to execute those documents necessary to enter into a Lease Agreement for lease of approximately 1.212 +/- acres of land out of Franklin County Tax Parcel No. 010-153709 by and between the City of Columbus (“Landlord”) and Gudenkauf Corporation (“Tenant”), an Ohio corporation, with offices at 2679 McKinley Avenue, Columbus, Ohio 43204 .
Section 2. That the terms and conditions of the Lease Agreement shall be in a form approved by the Department of Law, Division of Real Estate.
Section 3. That this ordinance shall take effect and be in force from and after the earliest period allowed by law.