Explanation
Background: This legislation authorizes the Director of the Department of Development, or authorized designee to execute those documents necessary to enter into a lease agreement by and between the City of Columbus and the Regional Council of Governments for the Central Ohio Area Agency on Aging (“COG-COAAA”) for the city-owned property located at 3776 South High Street, Columbus, Ohio for a term of 8 years.
The operations of Area Agency on Aging Region 6 known as the Central Ohio Area Agency on Aging (“COAAA”) is to transition from operating as a division of the Recreation and Parks Department to a stand-alone Regional Council of Governments. This move requires the City to enter into lease agreements for the property at 3776 South High Street, Columbus, Ohio, which has been home to COAAA since purchased in 2015.
Fiscal Impact: The City will receive a total of $1,116,740.33, in monthly installments, for the term of the lease, which is equal to the amount necessary to satisfy the associated existing bond debt and will be deposited in the Debt Retirement Fund 4430-443001.
Title
To authorize the Director of the Department of Development, or authorized designee, to execute those documents necessary to enter into a Lease Agreement for an 8-year term between the City of Columbus and the Regional Council of Governments for the Central Ohio Area Agency on Aging for city-owned property located at 3776 South High Street, Columbus, Ohio; and to waive provisions of the Columbus City Codes Chapter 328 pertaining to the sale of city-owned realty. ($0.00)
Body
WHEREAS, the City is the owner of certain real property located on at 3776 South High Street, Columbus, Ohio; and
WHEREAS, COAAA is to transition from operating as a division of the Recreation and Parks Department to a stand-alone Regional Council of Governments; and
WHEREAS, COAAA has occupied 3776 South High Street since the City purchased the real estate in 2015 and the City wishes to allo...
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