Explanation
Background: In November of 1975, the City entered in 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 lease renews automatically for an additional ten (10) years unless the City terminates the lease by giving the County one hundred eighty (180) days notice of its decision not to renew. The deadline for the City to notify the County of its option to terminate the lease is unclear from the lease language but may be as early as February 16, 2006. The City and County desire to modify the existing lease agreement in order to allow both parties a clear deadline to make final decisions regarding lease's renewal. Therefore, it is necessary to authorize the Director of the Department of Finance and Management to execute a "Ninth Modification of Lease" to change the City's obligation to notify the County in writing of its decision to terminate the lease to be no later than June 1, 2006.
Fiscal Impact: N/A
Emergency Justification: Emergency action is requested to allow the subject lease to be modified prior the City's February 16, 2006 deadline.
Title
To authorize the Director of the Department of Finance and Management to execute a "Ninth Modification of Lease" to change the requirement to notify the County in writing of the City's option to terminate the lease for the Franklin County Municipal Court Building from one hundred eighty (180) days prior to the lease's expiration to the specific date of June 1, 2006 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, the subject lease renews automatically for an additional ten (10) years unless the City terminates the leas...
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