Explanation
Background: The City entered into an office lease with Columbus Downtown Development Corporation (CDDC), dated November 16, 2007, on behalf of the Department of Development to house offices of the Economic Development Division, for the lease of approximately 7,787 square feet of office space located at 50 West Town Street on the second floor in the former Lazarus Building and commonly known as Suite 220, 150 South Front Street. The Department of Development has determined that operational efficiency can be increased by moving the offices of the Economic Development Division to office space assigned for use by the Department of Development in the City’s new office building located at 111 N. Front Street. The existing office lease agreement for 50 West Town Street, Suite 220, remains in effect until April 30, 2028 thus necessitating that Suite 220 be subleased to a third party for the remainder of the lease agreement. The sublease provides for the sub-tenant’s purchase of selected office furnishings as a tenant improvement. This legislation authorizes the Director of the Department of Finance and Management to enter into a sublease agreement with the Greater Columbus Chamber of Commerce for the sublease of approximately 7,787 square feet of office space located on the second floor at 50 West Town Street and commonly known as Suite 220, 150 South Front Street.
Fiscal Impact: No funds are required.
Title
To authorize the Director of the Department of Finance and Management to execute those documents necessary to enter into a sublease agreement with the Greater Columbus Chamber of Commerce; and to waive such provisions of City Code Chapter 329 that may apply related to the sale of city-owned personal property included in the sublease.
Body
WHEREAS, the City leases office space from Columbus Downtown Development Corporation (CDDC) located on the second floor at 50 West Town Street in the former Lazarus Building and commonly known as Suite 220, 150...
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