Explanation
Background: This legislation authorizes the Director of Finance and Management to enter into a lease termination agreement with CompDrug, an Ohio not-for-profit corporation, for office space located on the second floor at 1402-1418 Cleveland Avenue, Columbus, Ohio 43211 and commonly known as 1410 Cleveland Avenue, effective as of midnight, June 30, 2018. CompDrug has requested and the City has agreed to an early termination of its Lease Agreement which expires on March 31, 2020. The City’s best interests are served by supporting CompDrug and granting its request for early termination of the Lease Agreement. The early termination of this lease will allow the City to renovate and occupy the office space at the earliest feasible date to support the operations of the Department of Neighborhoods.
Fiscal Impact: The City will not receive further rental funds to support the operation of the building.
Emergency action is requested to allow CompDrug sufficient time to make all arrangements necessary to move its personal property, personnel and data services out in a timely manner and to allow the City use of the space at the earliest date feasible for renovation and occupancy by City operations.
Title
To authorize the Director of the Department of Finance and Management to execute those documents necessary to enter into a lease termination agreement for office space at Cleveland Avenue, and to declare an emergency. ($0.00)
Body
WHEREAS, the City accepted a deed for certain improved real property and a mixed-use commercial building located at 1402-1418 Cleveland Avenue, Columbus, Ohio 43211, commonly known as 1410 Cleveland Avenue, pursuant to City Council Ordinance 2573-2017; and
WHEREAS, the City is successor in interest to that certain Lease Agreement dated April 1, 2015 by and between NLR Group LTD., an Ohio Limited Liability Company and CompDrug, an Ohio not-for-profit corporation, for approximately 7,500 square feet of office space located on...
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