Explanation
Background: Since October 1, 2022, the City has leased approximately 3,428 square feet of medical office space located at 5770 Karl Road, on behalf of Columbus Public Health, to house a Women, Infants and Children (WIC) clinic. The current Lease Agreement (“Lease”), effective October 1, 2022 and authorized by City Council Ordinance 2261-2022, is by and between 480 Properties, LLC as the Landlord and the City as the Tenant. 480 Properties, LLC recently sold the 5770 Karl Road property and the City’s leasehold interest to AMAAR Properties LTD.
In order to memorialize this change in the Landlord in the Lease Agreement, the City and AMAAR Properties LTD, as successor in interest to 480 Properties, LLC, desire to enter into a First Amendment to Lease Agreement to assign the Lease Agreement to AMAAR Properties LTD as Landlord and to change the Rent Payment Address and the Notice provisions in the Lease to reflect the correct address for the new Landlord.
This legislation authorizes the Director of Finance and Management to execute those documents necessary to enter into a First Amendment to Lease Agreement with AMAAR Properties LTD of that certain Lease Agreement, effective October 1, 2022, to recognize AMAAR Properties LTD as the successor in interest to 480 Properties, LLC as Landlord and to revise the Rent Payment Address and the Notice provisions of the Lease to indicate the correct address for the new Landlord. All other terms, conditions, and provisions of the Lease will remain unchanged and in full force and effect. This legislation is presented as emergency measure.
Fiscal Impact: $0.00
Emergency Action: This legislation is presented as an emergency measure to allow for payment of the November monthly rent to the new ownership entity as the Landlord at the earliest possible date to comply with the terms of the Lease.
Title
To authorize the Director of Finance and Management to execute those documents necessary to enter into a First Amendment to Lease Agreement with AMAAR Properties LTD; and to declare an emergency. ($0.00)
Body
WHEREAS, the Department of Finance and Management, through its Real Estate Management Office, leases medical office space located at 5770 Karl Road on behalf of Columbus Public Health for a Women, Infants and Children (WIC) clinic, and
WHEREAS, the property and the City’s leasehold interest have been sold to AMAAR Properties LTD, and
WHEREAS, it is necessary to amend the Lease Agreement to document AMAAR Properties LTD as the Landlord and as the entity to receive rent payments and to amend other provisions as necessary to reflect the correct address for AMAAR Properties LTD as Landlord; and
WHEREAS, an emergency exists in the usual daily operation of the Finance and Management Department in that it is necessary to authorize the Finance and Management Director to enter into a First Amendment to Lease Agreement with AMAAR Properties LTD., in order to allow for the immediate payment of the monthly rent to the new ownership entity at the earliest possible date to comply with the terms of the Lease Agreement for the immediate 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 Finance and Management be, and hereby is, authorized to execute a First Amendment to Lease Agreement by and between the City of Columbus and AMAAR Properties LTD, as prepared and approved by the Department of Law, Division of Real Estate.
SECTION 2. That the City Auditor is authorized to make any accounting changes necessary to ensure that this lease expense is properly accounted for and recorded accurately on the City’s financial records.
SECTION 3. That for reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is hereby declared an emergency measure and shall take effect and be in force from and after passage and approval by the Mayor, or ten (10) days after passage if the Mayor neither approves nor vetoes the same.