City of Columbus - File #: 1504-2009

• File #: 1504-2009
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 10/29/2009
• In control: Judiciary And Court Administration Committee
• On agenda: 11/9/2009
• Final action: 11/11/2009
• Title: To authorize the Director of the Department of Finance and Management to execute those documents necessary to purchase fee simple title to two lots owned by Lorenzo P. Baker IV located at the northwest corner of Cherry and Wall Streets, to expend $52,000.00, from the Parking Garages Fund and to declare an emergency. ($52,000.00).

Date	Ver.	Action By	Action	Result
11/11/2009	1	ACTING MAYOR	Signed
11/11/2009	1	CITY CLERK	Attest
11/9/2009	1	Columbus City Council	Approved	Pass
11/9/2009	1	COUNCIL PRESIDENT	Signed
11/2/2009	1	Atty Drafter	Sent to Clerk's Office for Council
10/30/2009	1	Auditor Reviewer	Reviewed and Approved
10/30/2009	1	CITY AUDITOR	Reviewed and Approved
10/30/2009	1	Atty Drafter	Sent for Approval
10/30/2009	1	CITY ATTORNEY	Reviewed and Approved
10/30/2009	1	Atty Drafter	Sent to Clerk's Office for Council
10/30/2009	1	City Clerk's Office	Sent back for Clarification/Correction
10/29/2009	1	Atty Drafter	Sent for Approval
10/29/2009	1	Finance Drafter	Sent for Approval
10/29/2009	1	FINANCE DIRECTOR	Reviewed and Approved
10/29/2009	1	Atty Drafter	Sent for Approval

Explanation

Background: The City of Columbus (hereinafter "City") desires to purchase real property for the parking garage located at Front and Rich Streets. The property is owned by Lorenzo Baker IV and is leased to Riversouth Holdings LLC under a 99-year lease. Riversouth acquired the stores lease as part of its purchase of the Federated properties. Riversouth Holdings LLC has granted the City temporary possession under its leasehold rights until the City is able to acquire fee simple title. At that time Riversouth Holdings will release its leasehold interest to the City. This legislation authorizes the Director of the Department of Finance and Management to execute those documents necessary to purchase the aforementioned real property and to expend $52,000 for cost relevant to its acquisition.

Fiscal Impact: The Department of Finance and Management has determined that the expenditure for this purchase will come from the Parking Garages Fund.


Emergency Justification: Emergency action is requested to allow the purchase of the subject real property without delay in order to comply with the terms of the purchase agreement.


Title

To authorize the Director of the Department of Finance and Management to execute those documents necessary to purchase fee simple title to two lots owned by Lorenzo P. Baker IV located at the northwest corner of Cherry and Wall Streets, to expend $52,000.00, from the Parking Garages Fund and to declare an emergency. ($52,000.00).


Body

WHEREAS, the City of Columbus (hereinafter "City") desires to purchase real property for fee simple title to two lots located at the northwest corner of the intersection of Cherry and Wall Streets; and

WHEREAS, it is necessary to expend $52,000.00 from the Parking Garages Fund in order to purchase the subject real property; and

WHEREAS, an emergency exists in the usual daily operation of the City of Columbus, in that it is immediately necessary to authorize the Dir...