Explanation
Background: The City of Columbus, ("Landlord") entered into Lease Agreement with Directions for Youth and Families Group, Inc. ("Tenant") on June 21, 2006 for the three year lease of approximately 27,662 square feet of space located at 657 S. Ohio Avenue, Columbus, Ohio. The Lease Agreement did not contain a renewal option and expires on June 30, 2009. The Ohio Avenue building is used by Directions for Youth and Families (DFYF) to provide counseling, early childhood services, arts, recreation, leadership development and drug, alcohol, and violence prevention through after school performing and creative arts activities and summer camp programming for youth in this neighborhood.
The youth programs at the Ohio Avenue Youth Center have been very successful, and DFYF wishes to continue providing programming at this location. This legislation authorizes the Director of the Department of Finance and Management to enter into a Lease Amendment to provide for a renewal term, three years in length, commencing on July 1, 2009 and terminating on June 30, 2012. All other terms and conditions of the Lease will remain unchanged.
Fiscal Impact: The Lease Amendment will provide the City annual rental income in the amount of $44,259.20 through June 30, 2012, unless Directions for Youth and Families Group, Inc exercises its options to either terminate or purchase the building.
Title
To authorize the Director of the Department of Finance and Management to execute a Lease Amendment with Directions for Youth and Families Group, Inc. to modify the lease to provide for a renewal term of three (3) years in length, with the renewal term commencing on July 1, 2009 and terminating on June 30, 2012.
Body
WHEREAS, pursuant to Ordinance No. 2006-2005, the City of Columbus, ("Landlord") entered into a Lease Agreement with Directions for Youth and Families Group, Inc. ("Tenant"), dated June 21, 2005, for a term of three years, for the lease of approximat...
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