Explanation
BACKGROUND: The City has leased office space at 750 East Long Street, Columbus, Ohio for the past fifteen (15) years for use by the Columbus Division of Police from King Lincoln Gateway LLC. The Lease requires that in addition to base rent, the City pay its prorata share of all operating expenses for the building as additional rent. An estimated amount of the operating expenses are paid in advance each month of the lease year as part of the monthly rent. A “true-up” of these expenses is reconciled at the end of each lease year. The budgeted amount for the true-up of 2020 operating expenses that are payable in 2021 was insufficient.
This ordinance authorizes the appropriation and expenditure of $63,017.71 within the Special Income Tax Fund and authorizes the Department of Finance and Management, Real Estate Management Office, to pay the City’s pro rata share of 2020 building operating expense associated with the lease of office space at 750 East Long Street.
Fiscal Impact: This ordinance authorizes the appropriation and expenditure of $63,017.71 from the Special Income Tax Fund for payment of the City’s prorata share of building operating expenses associated with the City’s lease at 750 East Long Street, Columbus, Ohio ($63,017.71).
Emergency Action: Emergency action is requested to allow for the timely payment of the City’s pro rata share of building operating expenses associated with the 2020 lease year that are now due and payable.
Title
To authorize the Finance and Management Director, on behalf of the Real Estate Management Office, to pay rental expenses associated with a lease of office space located at 750 East Long Street; to authorize the appropriation and expenditure of $63,017.71 from the Special Income Tax Fund, and to declare an emergency ($63,017.71).
Body
WHEREAS, the Finance and Management Department, Real Estate Management Office, is responsible for the payment of rental expenses associated with the City’s lease at 750 East Long Street; and
WHEREAS, upon the end-of-year reconciliation, it was determined the amount budgeted and appropriated for payment of 2020 rental expenses associated with this lease is insufficient necessitating an additional appropriation to make up for this shortfall; and
WHEREAS, funding for the payment of the rental expenses associated with the lease of 750 East Long Street is provided for within the 2021 Special Income Tax Fund; and
WHEREAS, the appropriation of additional funds from the Special Income Tax Fund is necessary for the payment of rental expenses; and
WHEREAS, it is necessary to expend funds for payment of rent associated with the true-up of 2020 building operating expenses associated with the lease of 750 East Long Street payable in 2021; and
WHEREAS, an emergency exists in the usual daily operations of the Finance and Management Department, Real Estate Management Office, in that it is immediately necessary to authorize the appropriation and expenditure of funds and to authorize the Director to make the timely payment of rental expenses in order to ensure that City operations continue uninterrupted, thereby preserving the public health, peace, property, safety, and welfare; now, therefore
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS
SECTION 1. That the Finance and Management Director, on behalf of the Real Estate Management Office, is hereby authorized to expend funds for the payment to King Lincoln Gateway LLC of 2020 true-up rental expenses associated with the lease of office space at 750 East Long Street.
SECTION 2. That from the unappropriated monies and from all monies estimated to come into said fund from any and all sources and unappropriated for any other purpose during the fiscal year ending December 31, 2021, the sum of $63,017.71 is appropriated in Fund 4430 Special Income Tax Fund in Object Class 03, Lease and Rental of Property or Building, per the account codes in the attachment to this ordinance.
SECTION 3. That the expenditure of $63,017.71, is hereby authorized in Fund 4430 Special Income Tax Fund in Object Class 03, Lease and Rental of Property or Building, per the accounting codes in the attachment to this ordinance.
SECTION 4. That the monies appropriated in SECTION 2 shall be paid upon order of the Finance and Management Director and that no order shall be drawn or money paid except by voucher, the form of which shall be approved by the City Auditor.
SECTION 5. That the City Auditor is authorized to make any accounting changes necessary to ensure that this contract is properly accounted for and recorded accurately on the City's financial record. The City Auditor is authorized to make any changes to revise the funding source for any contract or contract modification associated with this ordinance.
SECTION 6. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is hereby declared to be an emergency measure and shall take effect and be in force from and after its approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.