Explanation
BACKGROUND: The city currently leases approximately 1,614 square feet of office space at 1186 W. Broad Street for the Department of Development, Franklinton Pride Center. The lease will currently expire on March 31, 2015. The city desires to amend the current lease under the same terms and conditions, including rent, to provide for two additional renewal terms each term being one-year in length. This legislation authorizes the Director of Finance and Management to execute those documents necessary to enter into a Second Amendment to Lease Agreement between the City the "Tom Zanetos 12/22/2004 Amended and Restated Trust" (Contract Compliance #467132497, 1/28/2016), and authorizes the appropriation and expenditure of $11,895.24 from the 2015 Special Income Tax Fund for payment of the rental cost associated with the first one-year renewal term that begins on April 1, 2015.
Fiscal Impact: This ordinance appropriates and expends $11,895.24 from the 2015 Special Income Tax Fund for payment of the rental cost for the office space located at 1186 W. Broad for the one-year renewal term that begins April 1, 2015.
Emergency Action: Emergency action is requested to provide funding to allow for timely payment of rent coinciding with the renewal date for this lease.
Title
To authorize the Director of the Department of Finance and Management to execute those documents necessary to enter into a Second Amendment to Lease Agreement between the City and "Tom Zanetos 12/22/2004 Amended and Restated Trust" (Contract Compliance Number 467132497); to appropriate and expend $11,895.24 from the 2015 Special Income Tax Fund for payment of rent in connection to the lease of office space located at 1186 W. Broad Street; and to declare an emergency.
Body
WHEREAS, the City and Tom Zanetos 12/22/2004 Amended and Restated Trust entered into an Amendment Lease Agreement dated March 20, 2014 to extend the lease of approximately 1,614 square feet...
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