...EXPLANATION
BACKGROUND:
Pursuant to Columbus City Code, Section 329.29.1, the Columbus Recreation and Parks Department ("CRPD") on behalf of the City of Columbus, Ohio, an Ohio municipal corporation ("City"), desires to enter into a lease agreement ("Lease") with the Central Ohio Bicycle Racing Association, Inc., an Ohio nonprofit corporation ("COBRA"). CRPD desires to lease to COBRA a portion of the City's real property located at 125 West Williams Road, Columbus, Ohio 43207 [Franklin County Tax Parcel ? 010-111429], which is commonly known as the City's Heer Park ("Premises") to nonexclusively use, operate, maintain, grade, and manage an outdoor bicycle racing track and facility (collectively, "Program"). COBRA has been operating the Program on the Premises since 1989 and the City continues to enjoy a good working relationship with COBRA. Additionally, the BMX and mountain biking community, who are actively involved with COBRA and the Program's activities have drawn countless adults and children to participate in various events at the Premises.
COBRA agrees to lease the Premises for an initial term of one (1) year commencing on February 1, 2014, and terminating on January 31, 2015, unless otherwise terminating sooner as described under the Lease. Additionally, the Lease will automatically renew for five (5) additional, consecutive one (1) year terms commencing on February 1, 2015, and fully expiring on January 31, 2020, unless otherwise terminating sooner as described under Lease. CRPD reviewed and determined that it is in the City's best interest to enter into this lease agreement and COBRA is required to pay nominal rent in annual amount of One and 00/100 U.S. Dollars ($1.00), because COBRA' Program at the Premises is a benefit to the City, public, and local community. Therefore, this ordinance authorizes the Director of the Recreation and Parks Department to enter into a lease agreement approved by the Columbus City Attorney, Real Estate Division...
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