Explanation
BACKGROUND: This ordinance authorizes the expenditure of $1,104,000.00, or so much thereof that may be necessary, by the Department of Finance and Management, Real Estate Management Office, for payment of rent for four (4) existing lease agreements for office and warehouse space used by the Department of Public Safety, and an internal Memorandum of Understanding (MOU) with the Department of Public Utilities for office space occupied at Fairwood Avenue by the Departments of Public Safety and Recreation and Parks.
The expenditure authorized by this ordinance is for payment of rent for four (4) leases containing automatic renewal provisions that are subject to the appropriation of rental funds by City Council and certification of funds availability by the City Auditor defined as follows: the tenth year of a fifteen (15) year lease with Gideon Development Partners LLC authorized by City Council Ordinance 2212-2004 and assigned to King Lincoln Gateway LLC for the term 4/1/2015 to 3/31/2016 ($465,000.00); the tenth year of a fifteen (15) year lease with King Lincoln Gateway LLC authorized by City Council Ordinance 0690-2006 for the term 4/1/2015 to 3/31/2015 ($130,000.00); the fifth year of six (6) one-year renewal terms with Lessor, LLC authorized by City Council Ordinance 0372-2010 for the term 8/1/2015 to 7/31/2016 ($344,000.00); and the second of four (4) one year lease renewals with The Center For Child and Family Advocacy at Nationwide Children's Hospital, dba The Center for Family Safety and Healing, authorized by City Council Ordinance 2674-2013 for the term 3/1/2015 to 2/28/2016 ($39,000.00); and also authorizes the payment of rent for an internal MOU Agreement with the Department of Public Utilities for the space occupied by the Departments of Public Safety and Recreation and Parks at Fairwood Avenue ($126,000.00).
Fiscal Impact: Sufficient funding for this ordinance is budgeted in the Director's Office division, Real Estate Management Of...
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