Explanation
BACKGROUND: The City is the owner of real property with an office building, located at 475 Elwood Avenue that has been leased to the Columbus Urban League since November 2007 for use as a Head Start program. The current lease agreement expires on October 31, 2016 and contains no additional renewals thus necessitating the need for a new lease agreement. The Columbus Urban League (CUL) has requested that the City allow it to enter into a new lease agreement to extend its occupancy and operation of the Head Start program. This legislation authorizes the Director of the Department of Finance and Management to execute those documents necessary to enter into a new lease agreement with the Columbus Urban League for an initial term of three (3) years with an option for three (3) one-year renewal terms with each term at the rent as specified in the rent schedule provided in the lease. The City will have the right to terminate the lease without cause, at any time during the term or any renewal thereof by giving CUL one hundred twenty (120) days written notice.
Emergency Action is requested in order to avoid any delays executing the new lease so that the lease can commence upon current lease expiration.
Fiscal Impact: The City of Columbus will receive $15,972.00 per year for each of the first three years of the lease agreement with the rent proceeds to be deposited in the General Fund.
Title
To authorize the Director of the Department of Finance and Management to enter into a three year lease agreement with the Columbus Urban League for that City-owned property located at 475 Elwood Avenue, Columbus, Ohio, and to declare an emergency.
Body
WHEREAS, the City of Columbus, Ohio owns real property with an office building located at 475 Elwood Avenue, Columbus, Ohio; and,
WHEREAS, the City of Columbus and the Columbus Urban League desire to enter into a lease agreement to extend CUL's occupancy and operation of the Head Start program; and,
WHEREAS, the ...
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