Explanation
Background: In response to further financial hardship experienced from the continuation of the COVID-19 pandemic, the following legislation authorizes the Director of the Department of Finance and Management to enter into lease amendments necessary to further abate rent due from City Tenants operating businesses as food service providers in a total amount not to exceed $75,000, and to declare an emergency.
Fiscal Impact: Rental income to the City from City Tenants operating businesses as food service providers will be reduced in total by an amount not to exceed $75,000.
Emergency Action: This legislation is presented as emergency to immediately grant abatement of rent to City Tenants operating businesses as food service providers due to the further financial hardship experienced from the continuation of the COVID-19 pandemic.
Title
To authorize the Director of the Department of Finance and Management to enter into lease amendments with City Tenants operating businesses as food service providers that are necessary to abate rent due to the continuation of the COVID-19 pandemic; and to declare an emergency.
Body
WHEREAS, the City is the owner of certain real property leased to various tenants operating businesses as food service providers that have suffered severe financial losses due to the continuation of the COVID-19 pandemic; and
WHEREAS, it is in the City’s best interest to support these Tenants to prevent business closures and default on lease agreements with the City; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Finance and Management to authorize the Director to enter into Lease Amendments with its various tenants operating businesses as food service providers to abate rent due to the continuing financial hardships suffered by these businesses due to the COVID-19 pandemic; now, therefore;
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the Director of the Department ...
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