Explanation
Background:
In 1989 pursuant to Ordinance No. 65-89 the Cities of Columbus and Bexley entered into a lease of the property commonly referred to Academy Park/Clowson Field. In 1997, pursuant to Ordinance No. 1526-95 authority to lease to Bexley the athletic fields in Wolfe Park, as well as Academy Park/Clowson Field was adopted and a new lease was executed. By separate ordinance authority for the Executive Director to execute a Mutual Termination of Lease Agreement, terminating the 1997 lease, is being sought. Assuming the Mutual Termination of Lease Agreement is executed by both Columbus and Bexley, both Cities desire to enter into a new lease agreement for Academy Park/Clowson Field. This ordinance will authorize the Executive Director, upon the termination of the existing lease agreement with Bexley pursuant to and upon the execution of the Mutual Termination of Lease Agreement, to execute a new lease agreement with Bexley. The initial term of the lease shall be the number of years remaining on the initial 15 year term with two 5 year options to renew. Bexley will pay one dollar per year plus maintain the park and make such improvements as are approved by the Executive Director.
Fiscal Impact: None
Title
To authorize the Executive Director of Recreation and Parks to execute a mutual termination of the existing lease agreement with the City of Bexley for Academy Park/Clowson Field and the athletic fields at Wolfe Park, and to execute a new lease agreement with the City of Bexley for Academy Park/Clowson Field.
Body
WHEREAS, pursuant to Ordinance Nos. 65-89 and 1526-95, the City of Columbus has leased Academy Park/Clowson Field are the athletic fields in Wolfe Park to the City of Bexley; and
WHEREAS, the Cities of Columbus and Bexley intend to terminate this existing lease agreement upon the approval of their respective councils and the execution of a Mutual Termination of Lease Agreement; and
WHEREAS, upon...
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