Explanation
Background: King Lincoln Gateway Partners, LLC is constructing a 55,000 square foot mixed use office building at 742-744 East Long Street consistent with the King-Lincoln District Plan adopted by Council in July 2002. The Department of Finance and Management, on behalf of the Department Public Safety, has negotiated a proposed lease agreement with King Lincoln Gateway Partners, LLC for 7,697 square feet of the office building under construction to relocate the Professional Standards Bureau of the Division of Fire. The proposed lease agreement is a 15 year term subject to annual appropriations by City Council. Base rent is $11.75 per square foot net of utilities, taxes and insurance. Annual rent, including common area maintenance change for the first year is $104,679.20. This ordinance authorizes the Director of Finance and Management to execute the proposed lease agreement.
Fiscal Impact: The first year's rent of $104,679.20 is to be paid from the special income tax fund.
Emergency Justification: Emergency action is requested in order to allow for the timely construction of the new office for the relocation of the Professional Standards Bureau.
Title
To authorize the Director of Finance and Management to execute an office lease with King Lincoln Gateway Development Partners, LLC for office space, for the Professional Standards Bureau of the Fire Division, in an office building under construction by King Lincoln Gateway Development Partners, LLC, located at 742-744 East Long Street and to authorize the appropriation and expenditure of $104,679.20 from the special income tax fund and to declare an emergency. ($104,679.20)
Body
WHEREAS, King Lincoln Gateway Partners, LLC, is constructing a new mixed use office building that provides the City with the ability to lease 7,697 square feet for new offices for the Professional Standards Bureau of the Division of Fire; and
WHEREAS, a proposed lease between the City and King Lincoln Gateway Partners, LLC, has been negotiated wherein the City would agree to lease 7,697 square feet for 15 years, subject to annual appropriations for payments due under the lease; and
WHEREAS, an emergency exists in the usual daily operations of the Department of Public Safety and that, in order to timely relocate the Professional Standards Bureau of the Division of Fire, it is necessary to immediately authorize the execution of the proposed lease agreement with King Lincoln Gateway Partners, LLC, thereby preserving the public health, peace, 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 is hereby authorized to execute a fifteen (15) year lease agreement, for office space in the building under construction by King Lincoln Gateway Partners, LLC, on the property located at 742-744 East Long Street. Said lease is subject to the annual appropriation of funds for all payments due under the lease and shall be terminable, without any penalty or liability to the Landlord, for failure to appropriate such funds in any subsequent year.
Section 2. That to pay the first annual rent payment and common maintenance fee under the aforesaid lease, the appropriation and expenditure of $104,679.20 is hereby authorized from the special income tax fund 430 Division -45-07, OCA code 430457, Object level one:03, Object level three: 3301.
Section 3. That for the reasons stated in the preamble hereto, this ordinance is hereby declared to be an emergency measure and shall take effect and be in force from and after its passage and approval by the Mayor or ten days after its passage if the Mayor neither approves nor vetoes the same.