Explanation
Background: This legislation authorizes the Director of the Department of Finance and Management, on behalf of the Department of Public Service, to execute those documents necessary to enter into a lease agreement by and between the City and the United States Postal Service (“USPS”) for a portion of Franklin County Tax Parcel 010-017011, comprised of Lots 20, 21, and 22 Ruhwedel’s South Side Addition, containing approximately 13,164 +/- square feet for USPS continued use as additional parking for its postal facility at 455 E. Innis Avenue.
The City owns land located on the west side of Wager Street between Marion Road and Innis Avenue commonly known as Franklin County Tax Parcel 010-017011. A portion of the parcel comprised of Lots 20, 21, and 22 Ruhwedel’s South Side Addition have been leased by the City since 1994 to USPS as additional parking for its postal facility located at 445 E. Innis Avenue. The current land lease is expiring in the fall 2024 and has no renewal terms thus necessitating the need for a new lease agreement. The Real Estate Management Office has negotiated a new lease with a term of five (5) years with one (1) five (5) year renewal. The City and USPS will each have the right to terminate the lease by providing sixty (60) days written notice.
Fiscal Impact: No funds are required. The City will receive annual lease income of $9,638.00 that will be deposited in Fund 2265, the Street Construction Maintenance Fund.
Title
To authorize the Director of the Department of Finance and Management to enter into a Lease Agreement with the United States Postal Service for a portion of Franklin County Tax Parcel No. 010-017011.
Body
WHEREAS, the City is the owner of certain real property located on Wager Street identified as Franklin Tax Parcel No. 010-017011; and
WHEREAS, the City and the USPS desire to enter into a new lease agreement for land, comprised of Lots 20, 21, and 22 Ruhwedel’s South Side Addition, containing ...
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