Explanation
BACKGROUND: The city currently leases approximately 1,614 square feet of office space at 1186 W. Broad Street for the Department of Development, Franklinton Pride Center. The lease will currently expire on March 31, 2015. The city desires to amend the current lease under the same terms and conditions, including rent, to provide for two additional renewal terms each term being one-year in length. This legislation authorizes the Director of Finance and Management to execute those documents necessary to enter into a Second Amendment to Lease Agreement between the City the "Tom Zanetos 12/22/2004 Amended and Restated Trust" (Contract Compliance #467132497, 1/28/2016), and authorizes the appropriation and expenditure of $11,895.24 from the 2015 Special Income Tax Fund for payment of the rental cost associated with the first one-year renewal term that begins on April 1, 2015.
Fiscal Impact: This ordinance appropriates and expends $11,895.24 from the 2015 Special Income Tax Fund for payment of the rental cost for the office space located at 1186 W. Broad for the one-year renewal term that begins April 1, 2015.
Emergency Action: Emergency action is requested to provide funding to allow for timely payment of rent coinciding with the renewal date for this lease.
Title
To authorize the Director of the Department of Finance and Management to execute those documents necessary to enter into a Second Amendment to Lease Agreement between the City and "Tom Zanetos 12/22/2004 Amended and Restated Trust" (Contract Compliance Number 467132497); to appropriate and expend $11,895.24 from the 2015 Special Income Tax Fund for payment of rent in connection to the lease of office space located at 1186 W. Broad Street; and to declare an emergency.
Body
WHEREAS, the City and Tom Zanetos 12/22/2004 Amended and Restated Trust entered into an Amendment Lease Agreement dated March 20, 2014 to extend the lease of approximately 1,614 square feet of office space, located at 1186 W. Broad Street, Columbus, Ohio 43222; and
WHEREAS, the City and Tom Zanetos 12/22/2004 Amended and Restated Trust desire to further amend the Lease under the same terms and conditions, including rent, to provide for up to two additional renewal terms, each term being one year in length; and
WHEREAS, funding is provided for and available in the 2015 Special Income Tax Fund for the payment of the first one (1) year extension of the Lease; and
WHEREAS, it is necessary to authorize the appropriation and expenditure of $11,895.24 from the 2015 Special Income Tax Fund for the one year renewal term that begins April 1, 2015 and ends March 31, 2016; and
WHEREAS, an emergency exists in the usual daily operation of the Finance and Management Department, Real Estate Management Office, in that it is immediately necessary to authorize the Finance and Management Director to enter into a Second Amendment to Lease Agreement and expend funds for the payment of rent for the renewal term that begins April 1, 2015 in order to allow for timely payment of rents to ensure that City operations continue uninterrupted, 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 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 a Second Amendment To Lease Agreement with Tom Zanetos 12/22/2004 Amended and Restated Trust, for office space located at 1186 W. Broad Street to extend the term of the Lease under the same terms and conditions, including rent, and to provide for up to two additional renewal terms, each term being one year in length.
SECTION 2. That to pay the cost of the one (1) year lease extension, the appropriation and expenditure of $11,895.24, or so much thereof as may be necessary, is hereby authorized and approved as follows:
Division: 45-51
Fund: 430
OCA Code: 430459
Object Level 1: 03
Object Level 3: 3301
Amount: $11,895.24
SECTION 3. That the City Auditor is authorized to make any accounting changes necessary to ensure that this contract is properly accounted for and recorded accurately on the City's financial records. That the City Auditor is authorized to make any changes to revise the funding source for any contract or contract modifications associated with this ordinance.
SECTION 4. That the funds necessary to carry out the purpose of this ordinance are hereby deemed appropriated, and the City Auditor shall establish such accounting codes as necessary.
SECTION 5. 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.