Label
DPU052422OHIOBUILDINGLEASE
Utilities Administration
Cindy Geronimo (x2363)
Title
Authorizing the mayor to enter into a Lease Agreement with the Ohio Building Company, Ltd., for 36,241 square feet of administrative office and customer service space for the Division of Utilities Administration, in the Ohio Building located at 420 Madison Avenue; further authorizing the expenditure for said lease; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
Ordinance 253-12 approved a ten (10) year lease agreement for the Division of Utilities Administration to lease administrative office and customer service space with the Ohio Bldg. Company Ltd., located at 420 Madison Avenue. The current lease agreement expires on May 31, 2022. This ordinance continues the lease with the Ohio Building for a seven (7) year period beginning June 1, 2022 and expiring on May 31, 2029. This ordinance also authorizes the payment for building operating costs (BOC) with a 2% annual cap and parking for DPU employees.
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That the mayor is authorized to enter into a lease agreement with the Ohio Building Company, Ltd., for 36,241 square feet of office and customer service space in the Ohio Building located at 420 Madison Ave. for the Division of Utilities Administration for a seven (7) year term beginning June 1, 2022 and expiring on May 31, 2029 as outlined in the lease, a copy of which is attached hereto as Exhibit A.
SECTION 2. That the rental rate for such space in the Ohio Building per month and per year shall be as set forth immediately below and that said payment of said rent including Building Operating Cost (BOC), parking expenses and any increases due to escalations in base operational expenses are authorized for appropriation and expenditure from Account Codes 6078-31000-4000524STDSTD, 6078-31000-4000525STDSTD, 6078-31000-4000526STDSTD, 6078-31000-4000527STDSTD, 6078-31...
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