Explanation
BACKGROUND: The Columbus Zoological Park Association (“Zoo”) leases land from the City and Franklin County Board of Commissioners (“Commissioners”) to operate the Columbus Zoo. Under the lease, the Zoo may sublease portions of the property with the consent of the City and County. The Zoo entered into a sublease agreement for a portion of the land with Zoombezi Bay LLC, an Ohio limited liability company (“Zoombezi Bay”), on January 1, 2008, for the operation of the Zoombezi Bay Water Park. The Zoo and Zoombezi Bay (“Parties”) have agreed to amend the existing sublease to allow a portion of the sublease to be subleased to the Delaware County Finance Authority, for the purposes of financing a new water slide at Zoombezi Bay. The Delaware County Finance Authority will then lease the portion of property back to Zoombezi Bay. The Recreation and Parks Department and the Department of Finance and Management have reviewed the proposed amendment to the sublease and have no objection to the City consenting to the sublease.
CONTRACT COMPLIANCE: Not applicable.
FISCAL IMPACT: Not applicable
EMERGENCY JUSTIFICATION: emergency action is requested in order to immediately execute the necessary documents to consent to the amendment of the sublease to meet an imminent, summer deadline so that the Parties maybe begin operating under the amended terms as soon as possible which will preserve the public peace, health, property, safety, and welfare.
Title
To authorize the Director of the Department of Finance and Management to execute those documents necessary to consent to the amendment of the existing sublease agreement between the Columbus Zoological Park Association and Zoombezi Bay, LLC; and to declare an emergency. ($0.00)
Body
WHEREAS, under the existing lease between the City, the Franklin County Board of Commissioners (“Commissioners”), and the Columbus Zoological Park Association (“Zoo”), the Zoo may sublease, portions of the property only with the City...
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