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Meeting Date:
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1/24/2019 - 6:30 PM
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Category:
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Report of the Committee on Accountability, Finance, and Personnel
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Type:
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Action
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Subject:
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11. Action on a Request to Approve the Second Amendment to Extend the Lease Agreement with Carmen High School of Science and Technology at the Walker Complex located at 1712 South 32nd 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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Documents related to the lease agreement with Carmen High School of Science and Technology at the Walker Complex are attached.
1. Proposed Second Amendment to the Lease Agreement – Carmen at the Walker Complex
2. First Amendment to the Lease Agreement – Carmen at the Walker Complex
3. Original Lease Agreement – Carmen at the Walker Complex
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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 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. The new lease term commenced on July 1, 2017, and will terminate June 30, 2019.
The Administration is requesting approval of the proposed Second Amendment to the Lease Agreement for a three-year term to align with the charter term contract.
Lease Term: July 1, 2019, through June 30, 2022
The lease rent revenue shall be as follows:
July 1, 2019 – June 30, 2020 = $245,280
July 1, 2020 – June 30, 2021 = $250,186
July 1, 2021 – June 30, 2022 = $255,189
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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 $750,655.
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Implementation and Assessment Plan
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Upon Board approval, the attached Second Amendment to the Lease Agreement with Carmen High School of Science and Technology at the Walker Complex will be executed.
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Recommendation:
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Your Committee recommends that the Board send this item to the Board without recommendation
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Approvals:
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Recommended By:
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Signed By:
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Jacqueline M. Mann, Ph.D. - Board Clerk/Chief Officer
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