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Meeting Date:
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Category:
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Type:
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Subject:
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11. Action on a Request to Approve the Second Amendment to Extend the Lease Agreement with Assata at the 35th Street Building Located at 3517 West Courtland Avenue |
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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 – Assata
2. First Amendment to the Lease Agreement – Assata
3. Original Lease Agreement – Assata |
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File Attachment:
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Background:
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Assata was established as an MPS partnership school in 1992. Assata provides an educational program for students in grades 9 through 12 who are at risk of not graduating as defined by Wis. Stat. 118.153(1)(a). Assata’s educational component is designed to integrate historic contributions and experiences of African-Americans into the daily curriculum as a means to expand both subject and content knowledge needed to overcome credit deficiencies. The term of the current lease agreement that utilizes a portion of the 35th Street School Building is from July 1, 2016, through June 30, 2018, with an option to extend for one additional three-year term.
The Administration is requesting approval to exercise the second extension option under the original lease agreement for three years.
Lease Term: July 1, 2018, through June 30, 2021
The lease rent revenue shall be as follows:
July 1, 2018 – June 30, 2019 = $106,095.00
July 1, 2019 – June 30, 2020 = $108,217.00
July 1, 2020 – June 30, 2021 = $110,382.00 |
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Fiscal Impact Statement:
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There are no expenditures associated with this item. Total lease revenue for lease term is $324,694.00 |
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Implementation and Assessment Plan: |
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Upon Board approval, the attached second amendment to the lease agreement with Assata shall be executed. |
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Recommendation
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The Administration recommends that the Board approve the second amendment to the lease agreement with Assata at the 35th Street building, located at 3517 West Courtland Avenue. |
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Approvals:
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Recommended By: |
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Signed By: |
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Travis Luzney - Director |
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Signed By: |
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Lynn Ruhl - Director of Financial Planning and Budget |
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Signed By: |
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Wendell Willis - Director, MPS Foundation |
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Signed By: |
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Keith Posley, Ed.D. - Superintendent |
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