...EXPLANATION
BACKGROUND:
The City of Columbus, Ohio ("City"), acting through its Department of Finance and Management on behalf of the Department of Public Utilities, desires to enter into a lease agreement with the Preservation Parks District of Delaware County, Ohio ("PPDDC"), a park district organized under Ohio Revised Code, Chapter 1545, whose principle place of business is 2656 Hogback Road, Sunbury, Ohio 43074, for the lease of certain portions of City-owned real property located in the vicinity of the Ottawa Creek Preserve of the Upground Reservoir, Delaware County, Ohio ("Park"). PPDDC wishes to utilize portions of the City's property as a public park and trail system. The lease agreement is for an initial term of forty (40) years with two (2), twenty (20) year options to renew. Therefore, this legislation authorizes the Director of the Department of Finance and Management to execute a lease Agreement between the City and PPDDC.
FISCAL IMPACT: N/A
EMERGENCY JUSTIFICATION: N/A
TITLE
To authorize the Director of the Department of Finance and Management to execute a lease agreement between the City and the Preservation Parks District of Delaware County, Ohio, a park district organized under Ohio Revised Code, Chapter 1545, to lease certain portions of City-owned real property located in the vicinity of the Ottawa Creek Preserve of the Upground Reservoir, Delaware County, Ohio, to be utilized as a public park and trail system. ($0.00)
BODY
WHEREAS, the City of Columbus, Ohio ("City"), which is acting through its Department of Finance and Management, desires to enter into a lease agreement with the Preservation Parks District of Delaware County, Ohio ("PPDDC"), a park district organized under Ohio Revised Code, Chapter 1545, to lease certain portions of City-owned real property located in the vicinity of the Ottawa Creek Preserve of the Upground Reservoir, Delaware County, Ohio ("Park");
WHEREAS, PPDDC wishes to utilize the Park for use as a public park and trail system;
WHEREAS, the lease agreement for the Park is effective for an initial term of forty (40) years and may renew up to two (2), twenty (20) years renewal terms, unless otherwise appropriately terminated in writing by the City or PPDDC; and NOW, THEREFORE:
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS, OHIO:
SECTION 1. The Director of the Department of Finance and Management is authorized to execute those documents necessary to enter into a lease agreement between the City of Columbus, Ohio, and the Preservation Parks District of Delaware County, Ohio, a park district organized under Ohio Revised Code, Chapter 1545, to lease certain City-owned real property located in the vicinity of the Ottawa Creek Preserve of the Upground Reservoir, Delaware County, Ohio, to be utilized as a public park and trail system.
SECTION 2. The terms and conditions of the lease agreement are required to be in a form approved by the Columbus City Attorney's Office, and the lease agreement is required to include the following terms:
2.1. The initial term of the Lease Agreement is effective for a period of forty (40) years and may renew up to two (2), twenty (20) year renewal terms, unless otherwise terminated in writing by either party;
2.2. Lessee agrees to pay a nominal annual rent in the amount of One and 00/100 U.S. Dollars ($1.00) per annum;
2.3. Lessee is only permitted to use the leased premises for use as a public park and trail system; and
2.4. All other terms and conditions agreed upon and approved by the Columbus City Attorney's Office.
SECTION 3. This ordinance shall take effect and be in force from and after the earliest period allowed by law.