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Meeting Date:
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5/13/2021 - 5:30 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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9. Action on a Request to Approve the Third 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 Third Amendment to the Lease Agreement – Assata
2. Second Amendment to the Lease Agreement – Assata
3. First Amendment to the Lease Agreement – Assata
4. Original Lease Agreement – Assata
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File Attachment:
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Background:
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Assata was established as a Milwaukee Public Schools 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 in 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.
In June of 2013, the Milwaukee Board of School Directors entered into a lease agreement with Assata for a portion of the 35th Street School property located at 3517 West Courtland Avenue. In June 2016, the Milwaukee Board of School Directors approved the first amendment to lease term agreement, and the second amendment to the lease agreement was approved in June 2018.
The Administration is requesting approval of the proposed third amendment to the lease agreement with Assata that will extend the lease term from July 1, 2021, through June 30, 2024, which aligns with the term of the current partnership contract with Assata.
The lease rent revenue shall be as follows:
July 1, 2021 – June 30, 2022 = $112,590.00
July 1, 2022 – June 30, 2023 = $114,842.00
July 1, 2023 – June 30, 2024 = $117,141.00
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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 $344,573.00.
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Implementation and Assessment Plan
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Upon Board approval, the attached Third Amendment to the Lease Agreement with Assata will be executed.
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Recommendation:
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The Administration recommends that the Board approve the attached Third Amendment to the Lease Agreement with Assata.
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Approvals:
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Recommended By:
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Signed By:
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Tracey Parrish - Administrative Assistant III
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Signed By:
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Sean Kane - Design & Construction Mgr III
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Signed By:
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Ruzica Drca - Financial Planning & Budget Coordinator III
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Signed By:
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Katrice Cotton, Ed.D. - Chief School Administration Officer
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Signed By:
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Calvin Fermin - Deputy Superintendent
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Signed By:
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Keith Posley, Ed.D. - Superintendent
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