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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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16. Action on a Request to Approve the First Amendment to the Lease Agreement with Milwaukee Teacher Education Center, Inc., for 65th Street School Building Located at 6600 West Melvina |
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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 First Amendment to the Lease Agreement –
MTEC
2. Original Lease Agreement – MTEC |
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File Attachment:
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Background:
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Milwaukee Teacher Education Center operates the Milwaukee Environmental Sciences Academy, which is a Milwaukee Public Schools non-instrumentality charter school program that serves students in 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 approved a lease agreement with Milwaukee Teacher Education Center, Inc., for 65th Street School building, located at 6600 West Melvina.
The Administration is requesting approval to exercise the first extension option under the original lease agreement for two additional years.
Lease Term: July 1, 2018, through June 30, 2020
The lease rent revenue shall be as follows:
July 1, 2018 – June 30, 2019 = $321,452
July 1, 2019 – June 30, 2020 = $327,881 |
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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 $649,333. |
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Implementation and Assessment Plan: |
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Upon Board approval, the attached first amendment to the lease agreement shall be executed. |
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Recommendation
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Your Committee recommends that the Board approve the attached first amendment to the lease agreement with Milwaukee Teacher Education Center, Inc., for 65th Street School building, located at 6600 West Melvina. |
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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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