Explanation
The City owns an office building, located at 1393 E. Broad Street, that houses the Near East Neighborhood Pride Center and three non-profit corporation tenants. The City has leased space to the non-profit tenants since 2007. The leases for the these tenants, AARP Foundation, Central Ohio Minority Business Association (COMBA), and Grandparents Living Theatre, dba Senior Repertory of Ohio Theater Company (SRO) will expire on September 30, 2015 and have no remaining renewal options thus necessitating the need for new lease agreements. This ordinance authorizes the Director of the Department of Finance and Management to execute those documents necessary to enter into new lease agreements with these existing tenants.
Fiscal impact: Passage of this ordinance will allow the City to continue to receive monthly rentals for deposit into the General Permanent Improvement Fund, Project #590701, Fund #748, to offset building operating expenses.
Title
To authorize the Director of the Department of Finance and Management to enter into lease agreements with Central Ohio Minority Business Association, Grandparents Living Theatre, dba Senior Repertory of Ohio Theater Company, and AARP Foundation for that City-owned property located at 1393 East Broad Street.
Body
WHEREAS, the City of Columbus, Ohio owns certain real property commonly known as 1393 East Broad Street; and
WHEREAS, the City of Columbus desires to enter into lease agreements with Central Ohio Minority Business Association), Grandparents Living Theatre, dba Senior Repertory of Ohio Theater Company, and AARP Foundation for office space in this building; now therefore,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the Director of the Department of Finance and Management be, and hereby is, authorized to execute those documents, as approved by the Department of Law, Division of Real Estate, necessary to enter into leases for five consecutive one (1) year terms for the renta...
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