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 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)
Body
WHEREAS, the Department of Finance and Management, through its Real Estate Management Office, leases medical office space located at 1675-1695 Holt Road on behalf of Columbus Public Health for a Women, Infants and Children (WIC) clinic by that certain Lease Agreement (“Lease”), effective October 1, 2016 and authorized by City Council Ordinance 2415-2018; and
WHEREAS, the 1675-1695 Holt Road and the City’s leasehold interest have been sold to Best Corporate Properties II; and
WHEREAS, it is necessary to assign the Lease Agreement to Best Corporate Properties II as the Landlord and to amend the Notice provision to reflect the change in Landlord; and
WHEREAS, it is necessary that the Director of the Department of Finance and Management be authorized to enter into a First Amendment to Lease Agreement by and between the City of Columbus and Best Corporate Properties II; and
WHEREAS, an emergency exists in the usual daily operation of the City in that it is immediately necessary to authorize the amendment in order 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; now, therefore:
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the Director of Finance and Management on the behalf of the City, be, and hereby is, authorized to execute those documents necessary, prepared and approved by the Department of Law, Division of Real Estate, to enter into a First Amendment to Lease Agreement by and between the City of Columbus and Best Corporate Properties II.
SECTION 2. That the City Auditor is authorized to make any accounting changes necessary to ensure that this lease is properly accounted for and recorded accurately on the City’s financial records.
SECTION 3. That for reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is hereby declared an emergency measure and shall take effect and be in force from and after passage and approval by the Mayor, or ten (10) days after passage if the Mayor neither approves nor vetoes the same.