Explanation
Background: This legislation authorizes the Director of Finance and Management to execute a Second Amendment to Agreement for Lease of Real Property for Agricultural Purposes with Radcliff Ventures, LLC, authorized by City Council Ordinance 2799-2016, to add acreage located at 433 London Groveport to be farmed. The City’s purchase of the property will be finalized this month and the terms of the purchase necessitate that the property continue to be farmed. This legislation is presented as emergency measure to allow the acreage to continue to be farmed this Spring under the City’s ownership of the property.
Fiscal Impact: No funding is required for this legislation. The City will receive an increase in annual rent income from $4,558.50 to $20,818.50 that will be deposited in the Water Operating Fund 6000.
Emergency Action: This legislation is presented as emergency measure to allow for the appropriate lease modifications so that the farming operations can proceed uninterrupted.
Title
To authorize the Director of Finance and Management, on behalf of the Department of Public Utilities, to execute those documents necessary to enter into a Second Amendment to Lease Agreement for Use of Real Property for Agricultural Purposes with Radcliff Ventures, LLC; and to declare an emergency.
Body
WHEREAS, the Department of Finance and Management, through its Real Estate Management Office, leases vacant land in Franklin County on behalf of the Department of Public Utilities for farming purposes; and
WHEREAS, the City’s purchase of 433 London Groveport Road necessitates that the property continue to be farmed by Radcliff Ventures, LLC; and
WHEREAS, it is necessary to immediately amend the City’s existing lease with Radcliff Ventures, LLC to add the land located at 433 London Groveport Road and to modify the rent due to the City based on the addition of 138.79 total tillable acres to be leased for farming; and
WHEREAS, an emergency exists in the usu...
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