Explanation
Background: This ordinance amends ordinance 3268-2022. The Tenant shall change from Subway Real Estate, LLC to the Franchisee, Cleveland Ave Subs LLC.
Emergency action is requested so that the new lease agreement may be in effect at the earliest possible time, the existing month-to-month tenancy can be terminated, Tenant’s term can be stabilized and Subway’s operation may continue uninterrupted.
Fiscal Impact: The lease will generate an annual rental income to the City of $22,734.00.
Title
To amend ordinance 3268-2022 to authorize the Director of Finance and Management to enter into a Lease Agreement with Cleveland Ave Subs LLC, instead of Subway Real Estate LLC, for the Lease Agreement at 1418 Cleveland Avenue; and to declare an emergency. ($0.00)
Body
WHEREAS, Subway Real Estate, LLC is the Columbus area development group that in turn subleases to a Franchisee (store owner) and recent policy changes dictate that all leases shall now be directly with the Franchisee therefore the Tenant name will go from Subway Real Estate, LLC to Cleveland Ave Subs LLC.
WHEREAS, an emergency exists in the usual daily operations of the Finance and Management Department in that it is immediately necessary to authorize the Director of the Department of Finance and Management, on behalf of the City, to execute a Lease Agreement with Cleveland Ave Subs LLC, to allow its tenancy to continue without interruption for the preservation of the public health, peace, property, safety and welfare; now, therefore:
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That Section 1 of ordinance 3268-2022 is hereby amended to read as follows:
That the Director of Finance and Management be, and hereby is, authorized to execute a Lease Agreement by and between the City and Cleveland Ave Subs LLC Subway Real Estate, LLC for lease of 1,300 rentable square feet of retail/office space located at 1418 Cleveland Avenue, Columbus, Ohio 43205.
SECTION 2. ...
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