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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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13. Action on a Request to Approve the First Amendment to the Lease Agreement with Educators Credit Union for Space at Hamilton High School located at 6215 W. Warnimont Avenue
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Strategic Plan Compatibility Statement:
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Goal 1 Academic Achievement
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Attachments
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1. Proposed First Amendment to the Lease Agreement –
Educators Credit Union
2. Original Lease Agreement – Educators Credit Union
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File Attachment:
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Background:
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Milwaukee Public Schools and Educators Credit Union have a long-standing successful relationship: the District began leasing space to Educators Credit Union in October of 2003. This enabled Hamilton High School and Educators Credit Union to collaborate on the creation of a branch office within Hamilton High School with an emphasis on providing opportunities for students.
This partnership involves students working as credit union volunteers, learning various aspects of the credit union business under the supervision of staff designated as Branch Coordinators and Branch Operations Program Managers. Educators Credit Union visits classrooms to provide financial information to students. They also work with the marketing instructor at Hamilton High School to establish a curriculum for the marketing classes that has students develop creative marketing campaigns that are used throughout the school to promote the program. This program also helps students develop skills in organization and gain practical experience in running a financial cooperative’s daily tasks. Over the past twelve years, Educators Credit Union has hired eleven students upon graduation as a direct result of the experience they received through this program. There is also an Advisory Board of the Credit Union that is scheduled to meet three times per year and consists of students, faculty members, and one representative from Educators Credit Union with the goal of addressing any concerns that the students, staff, or Educators Credit Union have with the program at Hamilton High School.
The first amendment to the lease agreement shall commence on September 1, 2018, for an additional (5) years, terminating on August 31, 2023.
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Fiscal Impact Statement:
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This item does not authorize expenditures. Annual lease proceeds are $1.00.
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Implementation and Assessment Plan
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Upon Board approval, the attached first amendment to the lease agreement with Educators Credit Union 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 Educators Credit Union at Hamilton High School, located at 6215 W. Warnimont 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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