Explanation
Background: The following legislation authorizes the Director of the Department of Finance and Management, on behalf of its Department of Public Utilities, to execute those documents necessary to enter into a lease agreement by and between the City and Gudenkauf Corporation (“Gudenkauf”) for a portion of land, comprised of approximately 1.212 +/- acres, out of the City’s real property on McKinley Avenue identified as Franklin County Tax Parcel No. 010-153709. The Gudenkauf Corporation, a locally-owned business, has outgrown the available space on its property at 2679 McKinley Avenue to meet its need for outdoor material storage and parking. In support of this locally-owned business, the City has, for several years, leased Gudenkauf a small area of land (approximately 1.212 +/- acres) out of the City’s adjacent property to use for material storage and parking. The previous land lease expired thus necessitating the need for a new lease. The Real Estate Management Office has negotiated a new lease with terms agreeable to the Department of Public Utilities. The lease will have an initial term of one year with six consecutive automatic one year renewal options. The City and Gudenkauf will each have the right to terminate the lease by providing one hundred twenty (120) days written notice.
Fiscal Impact: No funds are required. The City will receive annual lease income of $9,000.00 that will be deposited in the Water Operating Fund.
Title
To authorize the Director of the Department of Finance and Management to execute those documents necessary to enter into a Lease Agreement by and between the City of Columbus and Gudenkauf Corporation. ($0.00).
Body
WHEREAS, the City is the owner of certain real property located on McKinley Avenue identified as Franklin Tax Parcel No. 010-153709; and
WHEREAS, the City previously leased approximately 1.21 acres +/- of land out of that city-owned parcel on McKinley Avenue identified as Franklin County Tax Parcel No...
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