Explanation
Background: This legislation authorizes the Director of the Department of Finance and Management to execute those documents necessary to enter into a lease amendment agreement with YDT Sinclair Road, LLC to amend the existing lease to add five (5) additional automatic renewals, each one-year in length, subject to the annual authorization of rental funds by City Council and certification of funds availability by the City Auditor. The Department of Public Safety wishes to continue to occupy its current leased space. The Real Estate Management Office has negotiated an extension of the lease with the landlord to allow for five additional one-year automatic renewal terms. YDT Sinclair Road, LLC has a Contract Compliance #88820-152055 with an Expiration Date of 12/10/2017. Previous Ordinance 0372-2010, approved by Council, authorized the original lease agreement in 2010.
Fiscal Impact: This ordinance authorizes the expenditure of $343,980.00 from the General Fund to YDT Sinclair Road, LLC for the 2017-2018 term of the lease which is the same amount as the current lease term. The Real Estate Management Office budgeted $343,980.00 for this purpose.
Title
To authorize the Director of the Department of Finance and Management to execute those documents necessary to amend and extend the current lease agreement with YDT Sinclair Road, LLC for the Department of Public Safety; and to authorize the expenditure of $343,980.00 from the General Fund. ($343,980.00)
Body
WHEREAS, the Department of Finance and Management through its Real Estate Management Office, leases various office and warehouse space on behalf of the Departments of Public Safety; and
WHEREAS, the Departments of Public Safety has requested that the current lease with YDT Sinclair Road, LLC be extended; and
WHEREAS, the Department of Finance and Management through its Real Estate Management Office has negotiated an extension of the lease; and
WHEREAS, funding for the payment of rents for lease agreement is provided for within the approved 2017 General Fund budget for the Real Estate Management Office; and
WHEREAS, it is necessary to authorize the expenditure of $343,980.00 from the General Fund; and
WHEREAS, it is necessary to authorize the Director of the Department of Finance and Management to execute, on behalf of the City, those documents necessary to amend and extend the lease agreement with YDT Sinclair Road, LLC, for the immediate preservation of the public health, peace, property, safety and welfare; 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 amend and extend the lease agreement, as prepared and approved by the Department of Law, Division of Real Estate, by and between the City of Columbus and YDT Sinclair Road, LLC to provide for five (5) additional automatic renewals, each one-year in length, each renewal subject to the annual authorization of rental funds by City Council and certification of funds availability by the City Auditor and amend other related terms as necessary.
SECTION 2. That the expenditure of $343,980.00, or so much thereof as may be necessary in regard to the action authorized in Section 1, be and is hereby authorized in General Fund 1000 in Object Class 03 Contractual Services per the accounting codes in the attachment to this ordinance.
SECTION 3. That the funds necessary to carry out the purpose of this ordinance are hereby deemed appropriated and the City Auditor shall establish such accounting codes as necessary.
SECTION 4. That the expenditures as authorized in Section 2 shall be paid upon order of the Director of Finance and Management and that no order shall be drawn or money paid except by voucher, the form of which shall be approved by the City Auditor.
SECTION 5. That the City Auditor is authorized to make any accounting changes necessary to ensure that payment of this contract is properly accounted for and recorded accurately on the city's financial record and to revise the funding source for any contract or contract modification associated with this ordinance.
SECTION 6. That this ordinance shall take effect and be in force from and after the earliest period allowed by law.