...EXPLANATION
BACKGROUND:
The City of Columbus, Ohio (“City”), acting through its Department of Finance and Management on behalf of the Department of Public Utilities, desires to enter into a lease agreement with the Preservation Parks District of Delaware County, Ohio ("PPDDC"), a park district organized under Ohio Revised Code, Chapter 1545, whose principle place of business is 2656 Hogback Road, Sunbury, Ohio 43074, for the lease of certain portions of City-owned real property located in the vicinity of the Ottawa Creek Preserve of the Upground Reservoir, Delaware County, Ohio (“Park”). PPDDC wishes to utilize portions of the City's property as a public park and trail system. The lease agreement is for an initial term of forty (40) years with two (2), twenty (20) year options to renew. Therefore, this legislation authorizes the Director of the Department of Finance and Management to execute a lease Agreement between the City and PPDDC.
FISCAL IMPACT: N/A
EMERGENCY JUSTIFICATION: N/A
TITLE
To authorize the Director of the Department of Finance and Management to execute a lease agreement between the City and the Preservation Parks District of Delaware County, Ohio, a park district organized under Ohio Revised Code, Chapter 1545, to lease certain portions of City-owned real property located in the vicinity of the Ottawa Creek Preserve of the Upground Reservoir, Delaware County, Ohio, to be utilized as a public park and trail system. ($0.00)
BODY
WHEREAS, the City of Columbus, Ohio (“City”), which is acting through its Department of Finance and Management, desires to enter into a lease agreement with the Preservation Parks District of Delaware County, Ohio ("PPDDC"), a park district organized under Ohio Revised Code, Chapter 1545, to lease certain portions of City-owned real property located in the vicinity of the Ottawa Creek Preserve of the Upground Reservoir, Delaware County, Ohio (“Park”);
WHEREAS, PPDDC wishes to utilize the Park for use ...
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