City of Pickerington Master Lease Agreement 2026-05-22
City Leases Downtown Building to Community Improvement Corp
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Description
The City of Pickerington, Ohio has entered into a master lease agreement with Pickerington Community Improvement Corporation for the property at 51 E Columbus Street. The lease is for a nominal base rent of $1.00 over a 10-year initial term, with an option to renew for an additional 5 years. Tenant is responsible for all maintenance, taxes, utilities, and insurance.
Contract Details
Contract Amount
$1.00 base rent
Vendor
PICKERINGTON COMMUNITY IMPROVEMENT CORPORATION
Agency
City of Pickerington city, OH
Contract Type
FACILITIES
Document Date
May 22, 2026
Contract Term
10 years initial term beginning May 22, 2026, with one 5-year renewal option
Renewal Date
2041-05-22
Renewal Info
One 5-year extension option for tenant if not in default; must provide 180-day written notice prior to end of initial term. All conditions of the original lease apply during the renewal period.
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