Explanation
Background: In July 2007, the City purchased two parcels on Woodrow Avenue as the future site of the Division of Police Property Room and Crime Lab. The parcel containing approximately 2.95 acres and identified as Franklin County PID 010-003108, contains a fenced parking lot and a separately fenced area containing approximately 1,792 square feet located at the southwest corner of the parking lot that has been leased since 1994 to house a cell tower and an associated equipment building. The City, as part of its purchase of the property, assumed the existing lease with New Par, a Delaware partnership, dba Verizon Wireless (Verizon) for the cell tower. That lease expired and Verizon Wireless has been a month-to-month tenant during the negotiation of a new lease. Verizon dissolved the New Par entity and now does business in Ohio under the name Cellco Partnership, dba Verizon Wireless. The Real Estate Management Office has now negotiated a new lease with Cellco Partnership with terms that are acceptable to the City and Cellco.
This legislation authorizes the Director of the Department of Finance and Management to execute those documents necessary to enter into a lease agreement by and between the City and the Cellco Partnership dba Verizon Wireless (“Verizon)”), a Delaware General Partnership, for a portion of Franklin County Tax Parcel 010-003108. The lease will have an initial term of five (5) years and will contain two options for renewal with each renewal being an additional five year term. The City and Verizon will each have the right to terminate the lease by providing one hundred eighty (180) days written notice.
Fiscal Impact: No funds are required. The City will receive annual lease income in the amount of $26,800.00 that will be deposited in the General Fund.
Emergency Action: This legislation is presented as emergency in order to expedite the execution of a new lease between the City and Verizon for its continued operation of a cellular co...
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