Explanation
Background: The City has leased its property located at 229 Civic Center Drive as a restaurant within Bicentennial Park since 2010. The lease expired at the end of 2024 and in order to procure a new restaurant tenant in the most thorough and efficient fashion the City wishes to lease the facility and the spaces designed to accommodate two (2) food trucks to the Columbus Downtown Development Corporation (“CDDC”) which would allow them to secure operators as subtenants. CDDC’s sublease agreements will require City approval. This legislation authorizes the Director of Finance and Management to execute a Lease Agreement with the Columbus Downtown Development Corporation, a non-profit corporation, as Tenant, whose primary purpose is to identify and secure a restaurant operator and food truck vendors at 229 Civic Center Drive, Columbus, Ohio.
Fiscal Impact: The Lease Agreement will generate an amount that contemplates the reimbursement or pass through of operational expenses paid for by the City including utility costs, property insurance and real estate taxes estimated to be $20,000.00 in the first lease year ($20,000.00). The proceeds shall be deposited with Recreation and Parks in the 2294 Fund ($20,000.00).
Emergency Justification: Emergency action is necessary to enter into lease agreement between the City of Columbus and Columbus Downtown Development Corporation in order to facilitate the financing of tenant improvements to secure a new end user of the vacant facility. Emergency action is also necessary to support short term programming for the 2025 spring and summer park season.
Title
To authorize the Director of Finance and Management to execute a Lease Agreement with the Columbus Downtown Development Corporation (“CDDC”) for facilities located at 229 Civic Center Drive, and to declare an emergency.
Body
WHEREAS, the Department of Finance and Management, through its Real Estate Management Office, leased the City-owned property located a...
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