Explanation
Background: The City of Columbus, ("Tenant") entered into Lease Extension #2 with The 3042 McKinley Company (Landlord), dated November 8, 2007 for the lease of approximately 15,292 square feet of space located at 3042 McKinley Avenue, Columbus, Ohio 43204, with an expiration date of March 31, 2008. Lease Extension #2 provided the City with an option to renew the lease for an additional six (6) months with notice to the Landlord prior to the last month of the term. The office space is used in the daily operations of the Department of Public Safety, Columbus Police Department. After investigation with the Department of Public Safety, it has been determined that the extension of the lease is in the best interest of the City and should be allowed. The following legislation authorizes the Director of the Department of Finance and Management to exercise the lease extension to continue occupancy of this space through September 30, 2008.
The 3042 McKinley Company Contract Compliance Number is 31-6334544, with an expiration date of 2/02/2009.
Fiscal Impact: The necessary amount for this lease extension was budgeted and appropriated in the Special Income Tax Fund, through Ordinance 0075-2008, passed 2/11/2008. The total lease payments for the six month extension will be $102,560.50.
Title
To authorize the Director of the Department of Finance and Management to exercise an option to extend the lease with The 3042 McKinley Company for an additional six (6) months, with the term extending from April 1, 2008 to September 30, 2008 and to authorize the expenditure of $102,560.50 from the Special Income Tax Fund.
Body
WHEREAS, pursuant to Ordinance No. 1271-2007, the City of Columbus, ("Tenant") entered into Lease Extension #2 with The 3042 McKinley Company, dated November 8, 2007 for the lease of approximately 15,292 square feet of space located at 3042 McKinley Avenue, Columbus, Ohio 43204; and
WHEREAS, the City now desires to exe...
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