Explanation
Background: The City is the owner of an office building located at 1111 East Broad Street, Columbus, Ohio 43205. The City leases office and training space to the Workforce Development Board of Central Ohio by an Office Lease that commenced July 1, 2017 and as amended by that First Amendment To Office Lease, dated June 28, 2022, and the Second Amendment to Office Lease, that is to expire on June 30, 2025. The City and the Workforce Development Board wish to again extend the term of the Office Lease to allow for two additional renewal terms. A Third Amendment to Office Lease is necessary in order to provide additional renewal terms and establish rent for each renewal term. The multi-year renewal term was originally authorized by Ordinance 1488-2017 that permitted four one-year renewal terms and again by Ordinance 1554-2022 that permitted three additional one-year renewal terms.
This legislation authorizes the Director of the Department of Finance and Management to enter into a Third Amendment to Office Lease with the Workforce Development Board of Central Ohio, an Ohio non-profit corporation, for lease of office space, identified as Suite 102, and training rooms on the second floor for operation of the Ohio Means Jobs Columbus/Franklin County Job Center, in order to extend the term of the Office Lease to provide for two (2) additional one-year renewal terms and to establish the rental rate for each renewal term The first renewal term will commence on July 1, 2025; and declare an emergency.
Fiscal Impact: The City will receive rental funds that will be deposited in Fund 2294 Subfund 001 that supports the operation of the Jerry Hammond Center. The annual rent for the 2025-2026 renewal term of the lease will be approximately $360,000.00.
Emergency Justification: Emergency action is requested to allow for occupancy and provision of job training services by the Workforce Development Board to continue uninterrupted.
Title
To authorize the Director...
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