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File #: 0287-2019    Version: 1
Type: Ordinance Status: Passed
File created: 1/17/2019 In control: Finance Committee
On agenda: 1/28/2019 Final action: 1/31/2019
Title: To authorize the Director of Finance and Management to execute those documents necessary to enter into a First Amendment to Lease Agreement with Best Corporate Properties II; and to declare an emergency. ($0.00)
Explanation

Background: Since November 1, 2010, on behalf of Columbus Public Health, the City has leased approximately 3,600 square feet of medical office space located at 1675-1695 Holt Road to house a Women, Infants and Children (WIC) clinic. The current Lease Agreement (“Lease”), effective October 1, 2016 and authorized by City Council Ordinance 2415-2018, is by and between Holt Run Center, LLC as the Landlord and the City as the Tenant. Holt Run Center, LLC sold the 1675-1695 Holt Road property and the City’s leasehold interest in December 2018 to Best Corporate Properties II.

In order to memorialize the change in Landlord in the Lease Agreement, the City and Best Corporate Properties II, as successor in interest to Holt Run Center, LLC, desire to enter into a First Amendment to Lease Agreement to assign the Lease Agreement to Best Corporate Properties II as Landlord and to change the Notice provision to reflect the change in Landlord. Best Corporate Properties II has registered with the City as a vendor. Its’ Contract Compliance # is CC027911.

This legislation authorizes the Director of Finance and Management to execute those documents necessary to enter into a First Amendment to Lease Agreement with Best Corporate Properties II of that certain Lease Agreement, effective October 1, 2016, to recognize Best Corporate Properties II as successor in interest to Holt Run Center, LLC and Landlord and to revise the Notice provision of the Lease to indicate the correct address for the new Landlord. All other terms, conditions, and provisions of the Lease will remain unchanged and in full force and effect. This legislation is presented as emergency measure.

Fiscal Impact: $0.00

Emergency Action: This legislation is presented as an emergency measure to allow for payment of January and February monthly rent to the new ownership entity at the earliest possible date to comply with the terms of the Lease.

Title

To authorize the Director of Finance and Man...

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