Explanation
Background: The City is the owner of an office building located at 1111 East Broad Street, Columbus, Ohio 43205. The City leases office and training space to the Workforce Development Board of Central Ohio by an Office Lease that commenced July 1, 2017 and as amended by that First Amendment To Office Lease, dated June 28, 2022, that expires on June 30, 2023. The City and the Workforce Development Board wish to again extend the term of the Office Lease to allow for two additional renewal terms. A Second Amendment to Office Lease is necessary in order to provide additional renewal terms and establish rent for each renewal term.
This legislation authorizes the Director of the Department of Finance and Management to enter into a Second Amendment to Office Lease with the Workforce Development Board of Central Ohio, an Ohio non-profit corporation, for lease of office space, identified as Suite 102, and training rooms on the second floor for operation of the Ohio Means Jobs Columbus/Franklin County Job Center, in order to extend the term of the Office Lease to provide for two (2) additional one-year renewal terms and to establish the rental rate for each renewal term.The first renewal term will commence on July 1, 2023.
Fiscal Impact: The City will receive rental funds that will be deposited in Fund 2294 Subfund 001 that supports the operation of the Jerry Hammond Center. The annual rent for the 2023-2024 renewal term of the lease will be $344,352.00.
Title
To authorize the Director of Finance and Management to execute a Second Amendment to Office Lease with the Workforce Development Board of Central Ohio for the lease of office space at 1111 E. Broad Street.
Body
WHEREAS, the City is the owner of that certain real property located at 1111 East Broad Street, Columbus, Ohio 43205, commonly known as the Jerry Hammond Center; and
WHEREAS, the City leases space at the Jerry Hammond Center to the Workforce Development Board of Central Ohio use as o...
Click here for full text