Explanation
Background: The following legislation authorizes the Director of the Department of Finance and Management to enter into two lease amendments necessary to formally abate rent due from two City Tenants operating restaurant businesses and to declare an emergency. Subway Real Estate, LLC (Subway), located at 1410 Cleveland Avenue, and KA Restaurant Concepts, LLC (Milestone 229), located at 229 Civic Center Drive, were forced to close their businesses by a Public Health Order issued by the State of Ohio due to the 2020 COVID-19 pandemic.
Fiscal Impact: Subway's rent for 2020 will be abated in the amount of $5,400 and the rent for Milestone 229 will be abated by $31,334.52 for 2020.
Emergency Action: This legislation is presented as emergency in order to immediately grant abatement of rent to Subway Real Estate, LLC and KA Restaurant Concepts, LLC for the term of the closure of their businesses due to the COVID-19 pandemic.
Title
To authorize the Director of the Department of Finance and Management to enter into two lease amendments necessary to formally abate rent due to the 2020 COVID-19 pandemic; and to declare an emergency.
Body
WHEREAS, the City is the owner of certain real property located on 1410 Cleveland Avenue and 229 Civic Center Drive; and
WHEREAS, the City leases the property located at 1410 Cleveland Avenue to Subway Real Estate, LLC and the property located at 229 Civic Center Drive to KA Restaurant Concepts,; and
WHEREAS, Subway Real Estate, LLC and KA Restaurant Concepts, LLC, by order of the State of Ohio, were forced to close their restaurant businesses due to the 2020 COVID-19; and
WHEREAS, it has been determined that it is in the best interest of the City, due to the State mandated closure of the business operations of both Tenants, to abate rent for Subway Real Estate, LLC and KA Restaurant Concepts, LLC for the months of April, May and June 2020; and
WHEREAS, an emergency exists in the usual daily operation of the Depar...
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