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Meeting Date:
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6/19/2018 - 6:30 PM
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Category:
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ITEMS OF BUSINESS
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Type:
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Action
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Subject:
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16. Action on a Request to Approve the First Amendment to the Lease Agreement with Lit’l Scholars Day Care at the Thurston Woods Campus Located at 3320 West Wren 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 First Amendment to the Lease Agreement –
Lit’l Scholars Day Care
2. Current Lease Agreement – Lit’l Scholars Day Care
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File Attachment:
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Background:
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Milwaukee Pubic Schools and Lit’l Scholars Day Care have a long-standing relationship: the District began leasing space to Lit’l Scholars Day Care in May 1996. Lit’l Scholars Day Care serves children from 6 weeks to 12 years of age. Current enrollment at the day care is approximately 37 children.
Lease Term: September 1, 2018, through August 31, 2023
The lease rent revenue shall be as follows:
September 1, 2018 – August 31, 2019 = $38,973.00
September 1, 2019 – August 31, 2020 = $39,753.00
September 1, 2020 – August 31, 2021 = $40,548.00
September 1, 2021 – August 31, 2022 = $41,359.00
September 1, 2022 – August 31, 2023 = $42,186.00
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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 $202,819.00.
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Implementation and Assessment Plan
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Upon Board approval, the attached first amendment to the lease agreement with Lit’l Scholars Day Care shall be executed.
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Recommendation:
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The Administration recommends that the Board approve the attached first amendment to the lease agreement with Lit’l Scholars Day Care, LLC, at Thurston Woods, located at 3320 West Wren Street.
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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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