Explanation
Background: The City, ("Lessee") desires to enter into a lease agreement with Viking Properties, ("Lessor"), for the lease of 36,879 square feet of office and warehouse space located at 2028 Williams Road, Columbus, Ohio 43207. The aforementioned building is being used by the Division of Fire for its warehousing operations.
The Division of Fire originally occupied this space in November, 2002, as authorized under Ordinance #1609-2002, passed on October 21, 2002 for an initial term and three (3) one-year renewal terms. A second lease agreement was authorized under Ordinance #0587-2006, passed on April 5, 2006 authorizing an initial term and two (2) one-year renewal terms. The current lease expires January 31, 2009 an has no remaining renewal options. A new lease is now required as the Division of Fire desires to continue utilizing the Williams Road building for its warehousing operations.
This legislation authorizes the Director of Finance and Management to execute those documents necessary to enter into a one (1) year lease agreement with Viking Properties including two (2) automatic one-year renewal periods, each period being subject to the appropriation of funding by City Council, and to expend funds for the payment of rent for the one (1) year initial term beginning February 1, 2009 and ending January 31, 2010 to allow for the continued occupancy of this office and warehouse space.
Viking Properties Contract Compliance Number is 31-1358552, with an expiration date of 01/21/2011.
Emergency action is requested to provide funding to coincide with the beginning of the new lease agreement.
Fiscal Impact: This ordinance authorizes the expenditure of $108,793.05 from the Special Income Tax Fund appropriated pursuant to Ordinance #0087-2009.
Title
To authorize the Director of Finance and Management to execute those documents necessary to enter into a one (1) year lease agreement between the City of Columbus and Viking Prop...
Click here for full text