Explanation
Background: The City, ("Lessee"), desires to enter into a lease agreement with Parkwick Professional Plaza, LLC, an Ohio limited liability company, ("Lessor"), for the rental of certain real property which includes, approximately 20,760 square feet of office space, located on the far west side of the City. The office space will be used by the Department of Public Safety to house units of the Columbus Police Department. This legislation authorizes the Director of the Department of Finance and Management to execute those documents necessary to enter into a one (1) year lease agreement with Parkwick Professional Plaza, LLC, with the City having the option to renew/extend the lease for an additional (1) year term, subject further to negotiation of rent and lease conditions acceptable to both parties.
Fiscal Impact: Funding for this matter will come from the Special Income Tax Fund.
Emergency Justification: Emergency action is requested to allow for the immediate execution of the subject lease agreement by the City, allowing the lease's August 1, 2007 commencement date to proceed without delay.
Title
To authorize the Director of the Department of Finance and Management to execute those documents necessary to enter into a one (1) year lease agreement by and between the City of Columbus and Parkwick Professional Plaza, LLC, an Ohio limited liability company, for approximately 20,760 square feet of office space to house units of the Columbus Police Department, to expend $298,321.20 from the Special Income Tax Fund, and to declare an emergency.
Body
WHEREAS, the City, ("Lessee"), desires to enter into a lease agreement with Parkwick Professional Plaza, LLC, an Ohio limited liability company, ("Lessor"), for the rental of certain real property which includes, approximately 20,760 square feet of office space, located on the far west side of the City; and
WHEREAS, the office space will be used by the Department of Public Safety to ...
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