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Meeting Date:
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6/15/2021 - 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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12. Action on a Request to Approve the Third Amendment to Extend the Lease Agreement with Carmen High School of Science and Technology at the Northwest Secondary School Building located at 5496 North 72nd 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 Third Amendment to the Lease Agreement – Carmen at Northwest
2. Second Amendment to the Lease Agreement – Carmen at Northwest
3. First Amendment to the Lease Agreement – Carmen at Northwest
4. Original Lease Agreement – Carmen at Northwest
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File Attachment:
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Background:
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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 November 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 Northwest Secondary School Building. The initial term of the lease agreement commenced on July 15, 2013, and ended June 30, 2018, with an option to extend two additional five-year terms. The lease term was amended at the January 25, 2018, Board meeting to allow for the extension to be exercised for one year 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 = $672,070
July 1, 2022 – June 30, 2023 = $685,511
July 1, 2023 – June 30, 2024 = $699,221
July 1, 2024 – June 30, 2025 = $713,205
July 1, 2025 – June 30, 2026 = $727,469
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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 $3,497,476.
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Implementation and Assessment Plan
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Upon Board approval, the attached Third Amendment to the Lease Agreement with Carmen High School of Science and Technology at the Northwest Secondary School Building will be executed.
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Recommendation:
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The Administration recommends that the Board approve the Third Amendment to the Lease Agreement with Carmen High School of Science and Technology at the Northwest Secondary School Building.
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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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