Explanation
Background: In November of 1975, the City entered into a lease agreement with the County Commissioners of Franklin County Ohio ("County") for the Franklin County Court Building at 375 South High Street to house the Municipal Court. The current lease as modified, automatically renews for an additional ten (10) years unless the City notifies the County in writing of its decision to terminate the lease no later than June 1, 2006. Discussions between City and County officials have indicated that it would be desirable, for planning purposes, to shorten the renewal term of the lease from 10 years to 5 years and to authorize such other changes as are mutually agreed upon to clarify conflicting language and to reflect allocation of common and maintenance expenses
Therefore, it is necessary to authorize the Director of the Department of Finance and Management to execute a "Tenth Modification of Lease" to shorten the renewal term of the lease from 10 years to 5 years and to authorize such other changes as are mutually agreed upon to clarify conflicting language and to reflect allocation of common and maintenance expenses
Fiscal Impact: N/A
Emergency Justification: Emergency action is requested to allow the subject lease to be modified prior the City's June 1st deadline.
Title
To authorize the Director of the Department of Finance and Management to execute a "Tenth Modification of Lease" to shorten the renewal term for the Franklin County Municipal Court Building, from ten years to 5 years and to authorize such other changes as are mutually agreed upon to clarify conflicting language and to reflect allocation of common and maintenance expenses and to declare an emergency.
Body
WHEREAS, in November of 1975, the City entered in a lease agreement with the County Commissioners of Franklin County Ohio ("County") for the Franklin County Municipal Court Building at 375 S. High Street to house the Municipal Court; and
WHEREAS, t...
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