Explanation
Background: This legislation authorizes the Director of Finance and Management to enter into a lease agreement for office space at 1410 Cleveland Avenue to house offices and operations of the Department of Neighborhoods and to authorize the expenditure of up to $64,000.00 from the Real Estate Management Office 2017 General Fund budget for payment of the rental cost for the initial term of the lease.
Fiscal Impact: This ordinance authorizes the expenditure of up to $64,000.00 from the General Fund with 1410 Cleveland Avenue, LLC for payment of office space rental costs associated with the initial lease term for the period September 1, 2017 through August 31, 2018. The Real Estate Management Office budgeted $65,000 for the expenditures.
Title
To authorize the Director of Finance and Management to execute those documents necessary to enter into a Lease Agreement with 1410 Cleveland Avenue, LLC for the lease of office space located at 1410 Cleveland Avenue, and to authorize the expenditure of $64,000.00 from the General Fund. ($64,000.00)
Body
WHEREAS, the City and 1410 Cleveland Avenue, LLC desire to enter into a Lease Agreement for an initial term of one year with the option for six 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 for office space at 1410 Cleveland Avenue; and
WHEREAS, funding is provided for and available in the Finance and Management, Real Estate Management Office 2017 General Fund budget for the payment of rent for the initial term of the Lease Agreement; and
WHEREAS, it is necessary to authorize the expenditure of $64,000.00 from the 2017 General Fund budget for the payment of rent for the initial lease term that begins on September 1, 2017; now therefore:
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS
SECTION 1. That the Director of Finance and Management be, and hereby is authorized to e...
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