Explanation
Background: The City of Columbus Franklinton Pride Center provides residents with improved access to City services, better interagency communication, and the ability for residents to participate in identifying and addressing the specific needs of their own neighborhoods. The Franklinton Pride Center has occupied leased office space at 1186 W. Broad Street Avenue since August 2005. The current lease agreement expires March 31, 2009. The City ("Lessee") desires to enter into a new lease agreement with Tom and Agnes Zanetos ("Lessor"), for the continued rental of approximately 1,614 square feet of office space for this community pride center.
The following legislation authorizes the Director of the Department of Finance and Management, on behalf of the Department of Development, to execute those documents necessary to enter into a one (1) year lease agreement between the aforementioned parties, with the option of four (4) successive automatic renewal terms of one year each. The rent for the initial lease term will be at $10,287.00 which is the same annual rent as the expiring lease. The first renewal will contain no increase in annual rent. Beginning with the second renewal term, the rent will increase to $10,595.64 annually for each of the three remaining renewals.
A rent survey was conducted for comparable space in the area, and the stated rent rate is reasonable for the area.
Contract Compliance Number 27-8143514.
Fiscal Impact: This legislation authorizes the expenditure of $10,287 from the Special Income Tax Fund, appropriated through Ordinance 0087-2009, passed 2/10/2009.
Emergency Justification: Emergency action is requested to allow for the immediate execution of the subject lease agreement by the City in order to allow the commencement date of this Lease Agreement to coincide with the current expiration date without delay.
Title
To authorize the Director of the Department of Finance and Management to execute th...
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