Background
The City owns an office building (“Building”) located at 1393 E. Broad Street that is partially leased to non-profit organizations. Central Ohio Minority Business Association (COMBA) currently leases 2,135 rentable square feet of office space on the second floor identified as Suite 201. COMBA has an urgent need for additional office space so that it can expand client programs and its resource room and have requested the lease of an additional 662 rentable square feet of office space, identified as Suite 103, located on the first floor of the Building. The following legislation authorizes the Director of the Department of Finance and Management to execute those documents necessary to enter into an amendment of that certain lease effective October 1, 2012 by and between the City and the Central Ohio Minority Business Association to include the lease of Suite 103.
Emergency Action is requested to authorize the lease amendment in order to allow COMBA to take occupancy of the additional leased office space as quickly as possible.
Fiscal Impact: The City will receive additional monthly rent in the amount of $662.00 during the remainder of the lease term that will be deposited into Fund #748, General Permanent Improvement Fund, Project #590701, 1393 E. Broad Street Lease, to offset building operating expenses.
Title
To authorize the Director of the Department of Finance and Management to amend that certain lease effective October 1, 2012 by and between the City and the Central Ohio Minority Business Association for office space located in that real property commonly known as 1393 East Broad Street, Columbus, Ohio; and to declare an emergency.
Body
WHEREAS, the City of Columbus, Ohio owns that certain real property commonly known as 1393 East Broad Street; and,
WHEREAS, the City leases 2,135 rentable square feet in the Building, identified as Suite 201, to the Central Ohio Minority Business Association (COMBA) per a certain lease effective Octobe...
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