Label
Triversified Lease Amendment
Fire & Rescue
Assistant Director Kaminski & Chief Sheares (x3515)
Revised
Title
Authorizing the Mayor to enter into an amended commercial property lease with Triversified LLC for the lease of real property located at 1310 (aka 1302) Expressway Drive South, Toledo Ohio for the purpose of extending the lease term an additional five years and corresponding rent; authorizing the annual expenditure of funds; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
On October 19, 2020, pursuant to Ordinance 235-20, the Fire and Rescue Department entered a 5-year term property lease agreement with Triversified to house the Department’s Special Operations and Homeland Security offices and equipment. Said agreement commenced on January 1, 2020 and terminates on December 31, 2024.
This Ordinance requests to amend the term and rent amount of the original agreement.
Term is amended to permit an additional 5 years beginning on January 1, 2025, and terminating on December 31, 2029.
Annual lease costs are as follows:
Year 2025 annual lease cost is not to exceed $19,065.00, payable in monthly installments of $1,588.75.
Year 2026 annual lease cost is not to exceed $19,530.00, payable in monthly installments of $1,627.50.
Year 2027 annual lease cost is not to exceed $19,995.00, payable in monthly installments of $1,627.50
Year 2028 annual lease cost is not to exceed $20,460.00, payable in monthly installments of $1,705.00
Year 2029 annual lease cost is not to exceed $20,925.00, payable in monthly installments of $1,743.75.
Summary
NOW THEREFORE Be it ordained by the Council of the City of Toledo:
SECTION 1. That the Mayor is authorized to execute an amended commercial property lease with Triversified LLC for a term of five years, effective January 1, 2025, for approximately 7,490 square feet of office and warehouse space located at 1310 (aka 1302) Expressway Drive South for use by the Toledo Fire and Rescue Department, upon terms and conditions acceptable to the Directors of Fire, Law, and Economic & Business Development.
SECTION 2. That, subject to available appropriations in future years, the expenditure of an amount not to exceed $20,925.00 per year for the duration of said amended agreement is authorized from the General Fund, Account Code 1001-53000-3341002SPOPSB, in payment of rent pursuant to the amended lease authorized in Section 1.
SECTION 3. That the Finance Director is authorized to draw a warrant or warrants against Account Code 1001-53000-3341002SPOPSB in an amount not to exceed $20,925 annually in payment of the above-authorized obligations upon presentation of the proper voucher or vouchers.
SECTION 4. That it is found and determined that all formal actions of Council concerning and relating to the passage of this Ordinance were adopted in an open meeting of Council and that all deliberations of Council and any of its committees that result in such formal action were in meetings open to the public in compliance with all legal requirements, including Section 121.22, Ohio Revised Code.
SECTION 5. That this Ordinance is declared to be an emergency measure and shall take effect and be in force immediately from and after its passage. The reason for the emergency lies in the fact that the same is necessary for the immediate preservation of the public peace, health, safety, and property and for the further reason that this Ordinance must be immediately effective to effectuate an amended commercial property lease with Triversified LLC to house the Department’s Special Operations and Homeland Security offices and equipment.
Vote on emergency clause: yeas _____, nays _____.
Passed: _________________, as an emergency measure: yeas _____, nays _____.
Attest: ________________________ __________________________________
Clerk of Council President of Council
Approved: _____________________ __________________________________
Mayor
I hereby certify that the above is a true and correct copy of an Ordinance passed by Council ________________________.
Attest: ________________________
Clerk of Council