Explanation
Background: This legislation authorizes the Director of the Department of Development to
enter into a short-term lease agreement with Columbus Housing Partnership and Stenson Powell
Partnership for space located at 773 East Long Street within the Lincoln Theatre.
Fiscal Impact: The City will receive $2,446.87 or $11.25 per square foot for the
term of this lease agreement (6 months). In addition, Columbus Housing Partnership and
Stenson Powell Partnership shall contribute approximately $9,000 in tenant improvements.
Emergency Justification: Emergency action is requested in order to meet the targeted
occupancy dates.
Title
To authorize the Director of the Department of Development to enter into a short-term lease agreement to lease city owned property at 773 East Long Street to Columbus Housing Partnership and Stenson Powell Partnership; and to declare an emergency.
Body
WHEREAS, the City of Columbus, Ohio owns certain real property known as 773 East Long Street; and
WHEREAS, the City of Columbus, Ohio, has negotiated a mutually satisfactory lease agreement with Columbus Housing Partnership, an Ohio non-profit corporation, and Stenson Powell Partnership, an Ohio for-profit for the lease of said real property; and,
WHEREAS, an emergency exists in the usual daily operation of the Department of Development, in that it is immediately necessary to enter into this lease agreement in order to meet the agreed occupancy dates thereby preserving the public health, peace, property, safety, and welfare; and NOW THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the Director of Department of Development is hereby authorized and directed to execute any documents approved necessary to enter into a lease agreement by and between the City of Columbus, Ohio and Columbus Housing Partnership and Stenson Powell Partnership for a certain real property known as 773 East Long Street, C...
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