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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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8. Action on a Request to Approve an Amendment to Extend the Lease Agreement with Carmen High School of Science and Technology at the Northwest Secondary School Building located at 5496 North 72nd 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 Amendment to the Lease
2. Original Lease Agreement |
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File Attachment:
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Background:
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At its meeting on December 12, 2017, the Committee on Accountability, Finance, and Personnel voted to hold the following item in committee until its January 2018 meeting.
Carmen High School of Science and Technology (Carmen) is a college preparatory high school with a liberal arts curriculum that emphasizes science and engineering. Milwaukee Public Schools and Carmen have developed a long-term working relationship. In November 2012, the Milwaukee Board of School Directors approved a lease agreement between Milwaukee Public Schools and Carmen to operate a non-instrumentality charter school within the Northwest Secondary School Building. The term of the current lease agreement is from July 15, 2013 through June 30, 2018, with an option to extend two additional five-year terms.
The Administration is interested in continuing the relationship with Carmen through a lease amendment that will more accurately reflect the associated lease rate for building use, identify acceptable alterations, and extend the current term of the lease by one year in order to align the lease term with the charter contract term that was approved by the Board on June 29, 2017.
The amended lease term shall commence on July 1, 2018, for one (1) additional year, terminating on June 30, 2019.
The amended lease space shall be for 133,509 square feet as detailed in Exhibit A of the amended lease.
The amended lease extension requires that; Carmen provide the Board written notice of its desire to extend the term of the lease at least 90 days prior to the end of the term; that the Board has formally approved an extension or renewal of Carmen’s charter contract; and that the Board and Carmen have mutually agreed to extend the lease.
The amended lease improvements and alterations sections define permissible improvements and provides for potential rent credits based upon Carmen’s completion of eligible capital improvements
Amended lease rate schedule is as follows:
July 1, 2017 through June 30, 2018 = $639,540
July 1, 2018 through June 30, 2019 = $639,540 |
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Fiscal Impact Statement:
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There are no expenditures associated with this item. Projected total revenue from the amended lease rate schedule is $1,279,080. |
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Implementation and Assessment Plan: |
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Once approved by the Board the Lease Amendment with Carmen shall be executed. |
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Recommendation
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Your Committee recommends that the Board approve the proposed Amendment to the Lease Agreement between Milwaukee Public Schools and Carmen High School of Science and Technology. |
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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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