Explanation
BACKGROUND: This ordinance authorizes the appropriation of $1,783,500 within the Special Income Tax Fund for the Finance and Management Department, Real Estate Management Office, and authorization to expend $1,616,500 for payment of rent for various lease agreements for the benefit of the Departments of Public Safety and Development. The remainder of the appropriation will be expended for new lease agreements and the expenditure request will be made in subsequent ordinances in conjunction with the request for Council approval of each such new lease agreement.
This ordinance authorizes the Finance and Management Director to expend funds for payment of rental costs for eight (8) leases and a Memorandum of Understanding for the Departments of Public Safety and Development.
The lease renewals and expenditures authorized by this ordinance with their 2010 costs, are as specified in the attached chart:
SEE ATTACHMENT
The following is the contract compliance information for each lessor: King Lincoln Gateway, LLC Contract Compliance Number 38-3715517, expiration date 02/04/2011; Columbus Downtown Development Corporation Contract Compliance Number 76-0704655001, expiration date 02/28/2010; Southside Settlement Foundation Contract Compliance Number 31-4380068, expiration date 05/08/2010; Parkwick Professional Plaza Contract Compliance Number 20-8016434, expiration date 07/13/2011; Viking Properties Contract Compliance Number 31-1358552, expiration date 01/21/2011; Center for Children and Family Advocacy at Nationwide Children's Hospital Compliance Number 02-0627166001, expiration date 09/03/2011; and Agnes and Thomas Zanetos Contract Compliance Number 27-8143514, expiration date 07/09/2011.
Fiscal Impact: This ordinance appropriates $1,783,500 from the Special Income Tax Fund for various leases for the fiscal year 2010. This ordinance authorizes the expenditure of $1,616,500 for eight (8) leases and one (1) Memorandum of Understanding from the Spe...
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