Explanation
Background: This legislation authorizes the Director of the Department of Development to accept deeds from the Columbus Holding Group LLC to the City of Columbus, Ohio for the properties located at 435 W. State Street, Columbus, Ohio 43215, Franklin County Tax Parcels 010-042704 and 122 McDowell Street, Columbus, Ohio 43215, Franklin County Tax Parcel 010-294272. The City is working on a long-term plan for the building, operated as the Idea Foundry, with the Columbus Association for the Performing Arts (CAPA). Future legislation is necessary once the plan is completed and a new entity is created to manage the building. Authorization is also now requested to accept and amend existing lease agreements.
Emergency action is requested for approval of acceptance of the deed in order to amend the existing lease agreements and allow the transfer of the property in September, 2025.
Fiscal Impact: No funding is required for this legislation.
Title
To authorize the Director of the Department of Development to accept deeds for real properties located at 435 W. State Street and 122 McDowell Street, Columbus, Ohio 43215 from Columbus Holding Group, LLC, and to execute any and all necessary agreements and documents for the conveyance of the same; to assume the existing lease with Land-Grant Brewing Company, LLC and CIF, LLC; to execute lease amendments to said Land-Grant Brewing Company, LLC and CIF, LLC leases; and to declare an emergency. ($0.00)
Body
WHEREAS, Columbus Holding Group LLC is the owner of certain improved real property and commercial building located at 435 W. State Street, Columbus, Ohio 43215, Franklin County Tax Parcels 010-042704 and 010-294272 operated as the Idea Foundry; and
WHEREAS, Columbus Holding Group, LLC wishes to transfer ownership of the improved real property and commercial building to the City; and
WHEREAS, the City desires to accept the property; and
WHEREAS, the property is subject to existing leases with Land-Grant Brewing Company, LLC and CIF, LLC;
WHEREAS, the leases will need to be amended as certain provisions of the leases are no longer applicable and they contain certain clauses that the city cannot legally agree to; and
WHEREAS, the property will be transferred to the City by a deed recorded in the Franklin County, Ohio Recorder's Office; and
WHEREAS, an emergency exists in the usual daily operation of the City, that it is necessary to authorize the Director of the Department of Development to accept deeds for those improved real properties identified as 435 W. State Street and 122 McDowell St, Columbus, Ohio 43215 and to execute any and all necessary agreements and documents for the conveyance of the same to the City from Columbus Holding Group, LLC, by September, 2025, 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 the Department of Development, on the behalf of the City, be, and hereby is, authorized to accept a Limited Warranty Deed and execute any and all necessary agreements and documents for the conveyance of the same, as approved by the Department of Law, Division of Real Estate, for those certain improved real properties identified as 421 and 435 W. State Street, Columbus Ohio 43215, Franklin County Tax Parcel 010-042704 and as 122 McDowell Street, Columbus, Ohio 43215, Franklin County Tax Parcel 010-294272.
SECTION 2. That the Director of the Department of Development, on the behalf of the City, be, and hereby is, authorized to assume, subject to amendments, the existing leases on the property with Land-Grant Brewing Company, LLC and CIF, LLC.
SECTION 3. That the Director of the Department of Development, on the behalf of the City, be, and hereby is, authorized to execute amendments to the existing lease agreements existing on the site, as approved by the Department of Law, Division of Real Estate, for the properties described in Section 1.
SECTION 4. That for 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 passage and approval by the Mayor or ten days after its passage if the Mayor neither approves nor vetoes the same.