FACILITIESPENDING

City of Parma Heights Council Meeting Agenda 2026-05-26

Long-Term Lease For Early Childhood Center Approved

$27,774.96 per year base rent (subject to biennial CPI-based adjustment, not exceeding 3% per annum)City of Parma HeightsCENTERS FOR FAMILIES & CHILDRENMay 26, 2026

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Description

Parma Heights is poised to approve its written concurrence to a 30-year triple-net lease under which The Centers for Families and Children will lease a newly constructed shell building, adjacent play area, and designated parking from Cuyahoga County Public Library. The Centers will pay base rent of $27,774.96 per year and invest in interior build-out to deliver early childhood care, literacy, and educator workforce development services.

Contract Details

Contract Amount

$27,774.96 per year base rent (subject to biennial CPI-based adjustment, not exceeding 3% per annum)

Vendor

CENTERS FOR FAMILIES & CHILDREN

Agency

City of Parma Heights, OH

Contract Type

FACILITIES

Document Date

May 26, 2026

Contract Term

Initial lease term of 30 years commencing on a 2026 Commencement Date and terminating in 2056, with rent commencing upon substantial completion of tenant build-out or a specified 2026 date, whichever occurs first

Renewal Date

2056-12-31

Renewal Info

Lease provides an initial 30-year term starting in 2026 and may be extended by mutual agreement via written amendment; any extension requires prior written consent of the City of Parma Heights. Base rent is subject to discretionary biennial CPI-linked adjustments capped at 3% per annum. City reserves rights to prior written concurrence for any lease amendment, extension, or modification under Ordinance 2026-50 and related deed covenants.

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