Explanation
BACKGROUND: This ordinance authorizes the Finance and Management Director, on behalf of the Real Estate Management Office, to pay rent for four existing lease agreements for office space for the Departments of Development and Public Safety, and an internal Memorandum of Understanding with the Department of Public Utilities. Each of these agreements has automatic renewal options that are subject to appropriation and funding by Council for payment of the associated rents.
Fiscal Impact: This ordinance authorizes the appropriation and expenditure of $1,233,581.00 from the Special Income Tax Fund for payment of rent associated with four leases and an internal Memorandum of Understanding for the 2018-2019 renewal term. The Real Estate Management Office budgeted $1,233,581.00 within the 2018 Special Income Tax Fund for these expenditures.
Emergency Action: Emergency action is requested to allow for the timely payment of rent associated with the 2018 term for each lease and the Memorandum of Understanding.
Title
To authorize the Finance and Management Director, on behalf of the Real Estate Management Office, to pay rent associated with existing lease agreements; to authorize the appropriation and expenditure of $1,233,581.00 from the Special Income Tax Fund; and to declare an emergency ($1,233,581.00)
Body
WHEREAS, City Council previously authorized four lease agreements and a Memorandum of Understanding with automatic renewal terms with each renewal term being subject to the appropriation of rental funds and certification of funds availability by the City Auditor; and
WHEREAS, funding for the payment of the associated with these agreements is provided for within the 2018 Special Income Tax Fund; and
WHEREAS, the appropriation of funds for these lease agreements from the Special Income Tax Fund is necessary; and
WHEREAS, it is necessary to expend funds for the eleventh of twenty (20) one year lease terms of the lease with Columbus Downtown D...
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