Explanation
Background: The City, ("Lessee"), desires to enter into a lease agreement with The Ohio State University ("Lessor"), for the rental of certain real property located at 1475 Granville Street, on the grounds of University Hospital East (OSUE). The City's Division of Police has occupied this property since 1984 per the terms of a lease executed in 1984 between the City and St. Anthony Hospital. The property has been occupied as a month-to-month tenancy (30 day) since the lease expired in 1994 when the successor in interest to St. Anthony's, Park Medical Center, and the City did not come to an agreement to extend the lease. The new lease will be under the same terms as the original lease, except that there will be no annual rent payment required, and the City will continue to be fully responsible for all interior and exterior maintenance and repair of the building and entryways. OSUE will be responsible for maintainenance of the parking lot areas and public sidewalks. The building is in need of repairs to the HVAC system and does not want to expend funds without a long term lease agreement in place to protect its investment. The Division of Police wish to maintain operations at this location for the foreseeable future. This legislation authorizes the Director of the Department of Finance and Management to execute those documents necessary to enter into a one (1) year lease agreement with The Ohio State University, including automatic renewal of the lease for nine (9) additional one-year terms unless the City gives notice of its intent to terminate sixty (60) days prior to the end of the then current term.
Fiscal Impact: There are no lease payments required for this transaction.
Emergency Justification: Emergency action is requested to allow for the immediate execution of the subject lease agreement thereby allowing the City to immediately undertake its obligation for needed HVAC repairs including replacement to ensure air conditioning of for ...
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