Explanation
Background: The City of Columbus, ("Tenant") entered into Lease Extension #2 with The 3042 McKinley Company (Landlord), dated November 8, 2007 for the lease of approximately 15,292 square feet of space located at 3042 McKinley Avenue, Columbus, Ohio 43204, with an expiration date of March 31, 2008. Lease Extension #2 provided the City with an option to renew the lease for an additional six (6) months with notice to the Landlord prior to the last month of the term. The office space is used in the daily operations of the Department of Public Safety, Columbus Police Department. After investigation with the Department of Public Safety, it has been determined that the extension of the lease is in the best interest of the City and should be allowed. The following legislation authorizes the Director of the Department of Finance and Management to exercise the lease extension to continue occupancy of this space through September 30, 2008.
The 3042 McKinley Company Contract Compliance Number is 31-6334544, with an expiration date of 2/02/2009.
Fiscal Impact: The necessary amount for this lease extension was budgeted and appropriated in the Special Income Tax Fund, through Ordinance 0075-2008, passed 2/11/2008. The total lease payments for the six month extension will be $102,560.50.
Title
To authorize the Director of the Department of Finance and Management to exercise an option to extend the lease with The 3042 McKinley Company for an additional six (6) months, with the term extending from April 1, 2008 to September 30, 2008 and to authorize the expenditure of $102,560.50 from the Special Income Tax Fund.
Body
WHEREAS, pursuant to Ordinance No. 1271-2007, the City of Columbus, ("Tenant") entered into Lease Extension #2 with The 3042 McKinley Company, dated November 8, 2007 for the lease of approximately 15,292 square feet of space located at 3042 McKinley Avenue, Columbus, Ohio 43204; and
WHEREAS, the City now desires to exercise an option in the Lease to extend the Lease for another six months; and
WHEREAS, the office space will continue to be used in the daily operations of the Department of Public Safety, Columbus Police Department, and after investigation by the Department of Public Safety, it has been determined that the extension of the lease is in the best interest of the City and should be allowed; 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 exercise the option to extend the Lease for an additional six months per the terms of Lease Extension #2.
SECTION 2. That the terms and conditions of the lease extension shall be in form previously approved by the City Attorneys Office for Lease Extension #2, and the term of the Lease shall be hereby extended for six (6) months from April 1, 2008 through September 30, 2008.
Except as noted, all other terms, conditions, covenants and provisions of the original Lease remain the same.
SECTION 3. That the expenditure of $102,560.50, or so much thereof that may be necessary in regard to the action authorized in Sections 1 and 2, be and is hereby authorized and approved as follows:
Division: 45-51
Fund: 430
OCA Code: 430459
Object Level 1: 03
Object Level 3: 3301
Amount: $102,560.50
SECTION 4. That this ordinance shall take effect and be in force from and after the earliest period allowed by law.