Explanation
The Columbus Model Neighborhood Facility located at 1393 E. Broad Street has been master leased to the Columbus Compact Corporation since September 2003. The mission of the building, to be carried out by the Compact, was to operate the building for the promotion of economic opportunity, neighborhood life, community values, and cultural life. One of the tenants in the facility was Columbus Neighborhood Health Center, ("CNHC") who occupied 5,044 square feet of space. CNHC vacated its premises in June 2007. Due to a slowdown in the overall economy and a general reduction in grants and funding for non-profit organizations, the Columbus Compact has been unable to find new tenant(s) for this space and faced with the prospect of operating the building at a loss under the terms of the master lease, the Columbus Compact elected to let its lease expire as of September 30, 2007. It is now necessary for the City to enter into separate lease agreements with the remaining tenants in occupancy of the real property, more fully identified within in the body of this legislation, who desire to continue tenancy. The follow legislation authorizes the Director of the Department of Finance and Management to execute those documents necessary to enter into separate lease agreements with the remaining tenants.
Title
To authorize the Director of the Department of Finance and Management to enter into separate one year lease agreements with four non-profit organizations, AARP Foundation Worksearch, the Black Alliance for Educational Options, the Senior Repertory of Ohio Theater Company, and Central Ohio Minority Business Association for that city-owned property commonly known as 1393 East Broad Street, Columbus, Ohio, and to declare an emergency.
Body
WHEREAS, the City of Columbus, Ohio owns certain real property commonly known as 1393 East Broad Street; and,
WHEREAS the real property has been leased to the Columbus Compact Corporation under a "ma...
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