|
|
|
Meeting Date:
|
|
|
Category:
|
|
|
Type:
|
|
|
Subject:
|
|
13. Action on a Request to Approve the Third Amendment to Extend the Lease Agreement with Carmen High School of Science and Technology at the Walker Complex located at 1712 South 32nd Street |
|
|
|
Strategic Plan Compatibility Statement:
|
Goal 3 Effective and Efficient Operations
|
|
|
|
Attachments:
|
1. Proposed Third Amendment to the Lease Agreement – Carmen at the Walker Complex
2. Second Amendment to the Lease Agreement – Carmen at the Walker Complex
3. First Amendment to the Lease Agreement – Carmen at the Walker Complex
4. Original Lease Agreement – Carmen at the Walker Complex |
|
|
|
File Attachment:
|
|
|
Background:
|
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 cultivated a long-term working relationship. In June 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 Walker Multiplex. The initial term of the lease agreement commenced on July 1, 2012, and ended June 30, 2017, with an option to extend two additional five-year terms. The lease term was amended at the June 29, 2017, Board meeting to allow for the extension to be exercised for two years so it would align with the charter contract term. In January 2019, the Board approved the second amendment to the lease agreement for a two-year term.
The Administration is requesting approval of the proposed third amendment to the lease agreement with Carmen that will extend the lease term from July 1, 2021, through June 30, 2026, which aligns with the charter term contract.
The lease rent revenue shall be as follows:
July 1, 2021 – June 30, 2022 = $255,190
July 1, 2022 – June 30, 2023 = $260,294
July 1, 2023 – June 30, 2024 = $265,500
July 1, 2024 – June 30, 2025 = $270,810
July 1, 2025 – June 30, 2026 = $276,226 |
|
|
|
Fiscal Impact Statement:
|
|
There are no expenditures associated with this item. Total lease revenue for lease term is $1,328,020. |
|
|
|
Implementation and Assessment Plan: |
|
Upon Board approval, the attached Third Amendment to the Lease Agreement with Carmen High School of Science and Technology at the Walker Complex will be executed. |
|
|
|
Recommendation
|
|
The Administration recommends that the Board approve the Third Amendment to the Lease Agreement with Carmen High School of Science and Technology at the Walker Complex. |
|
|
|
Approvals:
|
|
Recommended By: |
|
Signed By: |
 |
|
Tracey Parrish - Administrative Assistant III |
|
|
Signed By: |
|
|
Sean Kane - Design & Construction Mgr III |
|
|
Signed By: |
|
|
Ruzica Drca - Financial Planning & Budget Coordinator III |
|
|
Signed By: |
|
|
Katrice Cotton, Ed.D. - Chief School Administration Officer |
|
|
Signed By: |
|
|
Calvin Fermin - Deputy Superintendent |
|
|
Signed By: |
|
|
Keith Posley, Ed.D. - Superintendent |
|
|
|
|
|
|
|
|