Explanation
Background: The City of Columbus ("Lessee") entered into a lease agreement with Parkwick Professional Plaza, LLC, an Ohio Limited Liability Company ("Lessor"), dated August 9, 2007 for the lease of approximately 21,050 square feet of office space located on the far west side of Columbus for use by the Department of Public Safety to house units of the Columbus Police Department. The Lease, authorized by Ordinance No. 1185-2007, is for an initial term of one (1) year commencing on August 1, 2007 and terminating on July 31, 2008 and automatically renewing for four (4) successive terms of one (1) year each, subject to the appropriation of rental funds by City Council, unless either party gives written notice of its intent to terminate one hundred eighty (180) days prior to the then current term. After consultation with the Department of Public Safety, it has been determined that the renewal of the lease for the next one year term is in the best interest of the City and should be allowed. This legislation authorizes the Director of Finance and Management to expend funds for the payment of rent for the first of four (4) automatic lease renewals for a one (1) year term for the continued occupancy of this office space through July 31, 2009.
The Parkwick Professional Plaza, LLC Contract Compliance Number is 208016434, with an expiration date of 1/26/2009.
Fiscal Impact: This ordinance authorizes the expenditure of $305,225 from the Special Income Tax Fund appropriated pursuant to Ordinance No. 0075-2008, passed February 11, 2008, for lease payments for the first of four (4) successive one (1) year term automatic renewal.
Title
To authorize the Director of Finance and Management to expend funds for the Lease with Parkwick Professional Plaza, LLC for the first of four (4) successive automatic one (1) year renewals, with the term commencing on August 1, 2008 and terminating on July 31, 2009, and to authorize the expenditure of $305,225 from the Special Income Tax Fund.
Body
WHEREAS, pursuant to Ordinance No. 1185-2007, the City of Columbus, ("Lessee") entered into a lease with Parkwick Professional Plaza, LLC ("Lessor"), dated August 9, 2007 for the lease of approximately 21,050 square feet of space located on the far west side of Columbus for an initial one (1) year term automatically renewing for four (4) successive one (1) year terms subject ; and
WHEREAS, the office space will continue to be used by the Department of Public Safety to house units of the Columbus Police Department, and in concurrence with the Department of Public Safety, it has been determined that the renewal of the lease is in the best interest of the City and should be allowed; and
WHEREAS, the City appropriated rental funds pursuant to Ordinance No. 0075-2008 to renew the lease for another one (1) year term; and
WHEREAS, it is necessary to authorize the expenditure of rental funds; now, therefore:
BE IT ORDAINED BY CITY COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the Director of the Department of Finance and Management be, and hereby is, authorized to expend $305,225 for the first of four (4) successive automatic one (1) year renewals per the terms of the lease.
SECTION 2. That the expenditure of $305,225, or so much thereof that may be necessary in regard to the action authorized in Section 1, be and is hereby authorized and approved as follows:
Division: 45-51
Fund: 430
OCA Code: 430459
Object Level: 1:03
Object Level: 3:3301
Amount: $305,225
SECTION 3. That the City Auditor is authorized to make any changes to revise the funding source for any contract or contract modifications associated with this ordinance.
SECTION 4. That this ordinance shall take effect and be in force from and after the earliest period allowed by law.