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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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10. Action on a Request to Approve the Third Amendment to the Lease Agreement with Banner Day Learning Corp. at the 35th Street School Property 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 – Banner Day Learning Corp.
2. Second Amendment to the Lease Agreement – Banner Day Learning Corp.
3. First Amendment to the Lease Agreement – Banner Day Learning Corp.
4. Original Lease Agreement – Banner Day Learning Corp.
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File Attachment:
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Background:
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Milwaukee Pubic Schools and Banner Preparatory School of Milwaukee (Banner Prep) have a long-standing relationship. Banner Prep was established in fall of 2006 to provide a continuum of services for students who have been expelled through a Central Services hearing process. The mission of Banner Prep is to provide an alternative small school setting for secondary-level students when academic and/or behavioral issues have become major barriers in a student’s success in school.
In June 2018, the Milwaukee Board of School Directors entered into a lease agreement with Banner Prep for a portion of the 35th Street School property located at 3517 West Courtland Avenue. In June 2019, 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 2020.
The Administration is requesting approval of the proposed third amendment to the lease agreement with Banner Day Learning Corp. that will extend the lease term from July 1, 2021, through June 30, 2022, which aligns with the term of the current partnership contract with Banner Prep.
The lease rent revenue shall be as follows:
July 1, 2021-June 30, 2022 = $104,971.00
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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 $104,971.00.
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Implementation and Assessment Plan
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Upon Board approval, the attached Third Amendment to the Lease Agreement with Banner Day Leaning Corp. shall 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 Banner Day Learning Corp.
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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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