...EXPLANATION
BACKGROUND:
The City of Columbus, Ohio, an Ohio municipal corporation acting through its Recreation and Parks Department (“City”), desires to enter into a lease agreement with Summit Vision, Inc., an Ohio corporation (“Summit”), whose principle place of business is 5640 Lynx Drive, Westerville, Ohio 43081. The City desires to lease to Summit portions of the City’s real property located at 8111 Schott Road, Westerville, Ohio 43081 [Franklin County Tax Parcel 110-000007], which is commonly known as the City’s Hoover Dam Park (“Premises”) to use and operate the Walnut Bluff High Ropes Course. Under this lease agreement, Summit will lease the Premises for a term of ten (10) years commencing on January 1, 2014, and terminating on December 31, 2023. In order to lease the Premises, Summit is required to pay the City an annual service payment equal to the greater of: (1) Ten Percent (10%) of Lessee’s Gross Receipts from the prior year’s Gross Receipts of Lessee’s services on the Premises; or (2) Fifteen Thousand and 00/100 U.S. Dollars ($15,000.00). Therefore, this ordinance authorizes the Director of the Recreation and Parks Department to execute a lease agreement approved by the Columbus City Attorney, Real Estate Division, between the City and Summit relating to the use, operation, and management of the Walnut Bluff High Ropes Course at the Premises.
FISCAL IMPACT: The City’s receipt of the lease payments from Summit will be deposited in Fund 223-062, Water Nature Preserve, OCA#065664
EMERGENCY JUSTIFICATION: Emergency action is requested so to not delay the City’s benefit resulting from Summit’s use and management of the Premises, which will preserve the public peace, health, property, safety, and welfare.
TITLE
To authorize the Director of the Department of Recreation and Parks to execute a revenue-generating lease agreement permitting Summit Vision, Inc., an Ohio corporation, to use and operate the Walnut Bluff High Ropes Course at City...
Click here for full text