Explanation
BACKGROUND: The City has leased office space within the building commonly referred to as 750 East Long Street, Columbus, Ohio for the past fifteen (15) years for offices of the Columbus Division of Fire and the Columbus Division of Police under two lease agreements. The current agreements expire on April 30, 2021 and have no option for renewal. The City is in the process of renovating a city-owned building to house both Fire and CPD functions currently located at 750E. Long however, that space will not be ready for occupancy until April 2022. Therefore it is necessary that the City remain in the leased space at 750 E. Long for one additional year and that it enter into a new lease agreement with GGH, LLC, the new owner of the building.
This ordinance authorizes the Director of Finance and Management to enter into a new one (1) year lease agreement with GGH, LLC, for the period May 1, 2021 through April 30, 2022 and authorizes the appropriation and expenditure of $719,000.00 or so much thereof as may be needed from within the 2021 Special Income Tax Fund for payment of rent per the terms of the lease agreement.
Fiscal Impact: This ordinance authorizes the appropriation and expenditure of $719,000.00 or so much thereof as may be needed from the Special Income Tax Fund for payment of rent associated with the lease at 738 East Long Street, Columbus, Ohio. $719,000.00 is budgeted within the 2021 Special Income Tax Fund for the Department of Finance and Management, Real Estate Management Office to pay rent for this leased office space.
Emergency Action: Emergency action is requested to allow for the immediate execution of the new lease agreement to allow for the uninterrupted occupancy by City operations and to insure timely payment of rent associated with the 2021-2022 term of the lease.
Title
To authorize the Finance and Management Director, on behalf of the Real Estate Management Office, to execute a lease agreement for office space at 750...
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