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Meeting Date:
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Category:
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Report of the Committee on Accountability, Finance, and Personnel |
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Type:
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Subject:
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7. Action on a Request to Approve the Second Amendment to the Lease Agreement with Milwaukee Teacher Education Center, Inc., at the 65th Street School Located at 6600 West Melvina Street |
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Strategic Plan Compatibility Statement:
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Goal 3 Effective and Efficient Operations
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Attachments:
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1. Proposed Second Amendment to the Lease Agreement – MTEC
2. First Amendment to the Lease Agreement – MTEC
3. Original Lease Agreement – MTEC |
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File Attachment:
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Background:
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Milwaukee Teacher Education Center, Inc., operates the Milwaukee Environmental Sciences Academy (MESA) which is a Milwaukee Public Schools non-instrumentality charter school program that serves students from K4 through 8th grade. The program is guided by the Expeditionary Learning Education philosophy. Students are prepared for college and career success through a program that combines engaging projects, academic rigor, and character development in a safe, child-centered environment.
In January 2013, the Board entered into a lease agreement with Milwaukee Teacher Education Center, Inc., for the 65th Street School property located at 6600 West Melvina Street. In June 2018, the Board authorized a lease amendment that extended the lease term through June 30, 2020. The Administration is requesting approval of the proposed second amendment to the lease agreement with Milwaukee Teacher Education Center, Inc., that will extend the lease term from July 1, 2020, through June 30, 2022, which aligns with the term of the current charter school contract with Milwaukee Teacher Education Center, Inc.
Lease Term: July 1, 2020-June 30, 2022
The lease rent revenue shall be as follows:
July 1, 2020-June 30, 2021 = $339,250.00
July 1, 2021-June 30, 2022 = $346,035.00
The Administration recommends that the Board approve the attached Second Amendment to the Lease Agreement with Milwaukee Teacher Education Center, Inc. |
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Fiscal Impact Statement:
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There are no expenditures associated with this item. Total lease revenue for the lease term is $685,285.00. |
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Implementation and Assessment Plan: |
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Upon Board approval, the attached Second Amendment to the Lease Agreement between Milwaukee Public Schools and Milwaukee Teacher Education Center, Inc., shall be executed. |
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Recommendation
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Your Committee recommends approval of the Administration's recommendation. |
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Approvals:
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Recommended By: |
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Signed By: |
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Jacqueline M. Mann, Ph.D. - Board Clerk/Chief Officer |
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