Explanation
The Columbus Model Neighborhood Facility located at 1393 E. Broad Street has been master leased to the Columbus Compact Corporation since September 2003. The mission of the building, to be carried out by the Compact, was to operate the building for the promotion of economic opportunity, neighborhood life, community values, and cultural life. One of the tenants in the facility was Columbus Neighborhood Health Center, ("CNHC") who occupied 5,044 square feet of space. CNHC vacated its premises in June 2007. Due to a slowdown in the overall economy and a general reduction in grants and funding for non-profit organizations, the Columbus Compact has been unable to find new tenant(s) for this space and faced with the prospect of operating the building at a loss under the terms of the master lease, the Columbus Compact elected to let its lease expire as of September 30, 2007. It is now necessary for the City to enter into separate lease agreements with the remaining tenants in occupancy of the real property, more fully identified within in the body of this legislation, who desire to continue tenancy. The follow legislation authorizes the Director of the Department of Finance and Management to execute those documents necessary to enter into separate lease agreements with the remaining tenants.
Title
To authorize the Director of the Department of Finance and Management to enter into separate one year lease agreements with four non-profit organizations, AARP Foundation Worksearch, the Black Alliance for Educational Options, the Senior Repertory of Ohio Theater Company, and Central Ohio Minority Business Association for that city-owned property commonly known as 1393 East Broad Street, Columbus, Ohio, and to declare an emergency.
Body
WHEREAS, the City of Columbus, Ohio owns certain real property commonly known as 1393 East Broad Street; and,
WHEREAS the real property has been leased to the Columbus Compact Corporation under a "master lease", for maintenance, operation, and subleasing of the real property since September 2003,
WHEREAS, the Columbus Compact Corporation has elected not to renew its master lease which, therefore, will expire as of September 30, 2007,
WHEREAS, four tenants, the AARP Foundation Worksearch, the Black Alliance for Educational Options, the Senior Repertory of Ohio Theater Company, and Central Ohio Minority Business Association, remain in occupancy of the real property and desire to continue tenancy, but their existing leases will be terminated with the expiration of the master lease with the Columbus Compact Corporation,
WHEREAS, the City of Columbus desires to enter into separate lease agreements with the remaining tenants for the real property commonly known as 1393 E. Broad Street; and,
WHEREAS, , an emergency exists in the daily operation of the City of Columbus, in that it is immediately necessary, due to the expiration of the current lease Columbus Compact, to authorize the Director of the Department of Finance and Management to enter into lease agreements with the AARP Foundation Worksearch, the Black Alliance for Educational Options, the Senior Repertory of Ohio Theater Company, and Central Ohio Minority Business Association, severally, for the rental of real property located at 1393 E. Broad Street, and for the immediate preservation of the public health, peace, property and safety; 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 be, and hereby is, authorized to execute those documents, as approved by the Department of Law, Division of Real Estate, necessary to enter into one (1) year lease with agreements for the rental of real property located at 1393 E. Broad Street, severally, by and between the City of Columbus (Lessor) and:
§ AARP Foundation Worksearch, a Washington, D. C. non-profit corporation for 1,242 rentable square feet of office space, for an annual rent of not less than $13,446,
§ The Black Alliance for Educational Options, a Washington, D. C. based non-profit corporation, for 662 rentable square feet of office space, for an annual rent of not less than $7,488
§ The Senior Repertory of Ohio Theater Company, an Ohio non-profit corporation, for 524 rentable square feet of office space, for an annual rent of not less than $5,928
§ Central Ohio Minority Business Association, an Ohio non-profit corporation, for 4,121 rentable square feet of office space, for an annual rent of not less than $38,016
Section 2. That the terms and conditions of these leases shall be in a form approved by the City Attorney's Office and shall include the following:
a) The leases shall have an initial term of one (1) year commencing on
October 1, 2007 and terminating on September 30, 2008
b) Each of the Lessees shall make lease payments of based on the rate of $11.00 per rentable square foot.
c) The rent payments shall be deposited in the "1393 East Broad Street Capital Reserve Fund" to cover expenses related to maintenance and/or repair of the building and components.
d) The leases will contain renewal option(s) and a Landlord termination provision.
e) Such other terms and conditions as are required and/or approved by the City Attorney's Office.
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 approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.