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Meeting Date:
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Category:
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Type:
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Subject:
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5. Action on a Request to Approve the Fifth 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 Fifth Amendment to the Lease Agreement - Banner Day Learning Corp.
2. Fourth Amendment to the Lease Agreement - Banner Day Learning Corp.
3. Third Amendment to the Lease Agreement - Banner Day Learning Corp.
4. Second Amendment to the Lease Agreement - Banner Day Learning Corp.
5. First Amendment to the Lease Agreement - Banner Day Learning Corp.
6. 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 Board 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 Board authorized a lease amendment that extended the lease term through June 30, 2020. In June 2020, the Board authorized another lease term from July 1, 2020 through June 30, 2021. In June 2021, the Board authorized another lease term from July 1, 2020 through June 30, 2022. In June 2022, the Board authorized another lease term from July 1, 2022 through June 30, 2023. The Administration is requesting approval of the proposed fifth amendment to the lease agreement with Banner Day Learning Corp. that will extend the lease term from July 1, 2023, through June 30, 2024, which aligns with the term of the current partnership contract with Banner Prep.
Lease Term: July 1, 2023, through June 30, 2024
The lease rent revenue shall be as follows:
July 1, 2023-June 30, 2024 = $111,353.00 |
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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 $111,353.00. |
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Implementation and Assessment Plan: |
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Upon Board approval, the attached Fifth Amendment to the Lease Agreement with Banner Day Leaning Corp. located at 3517 West Courtland Avenue will be executed. |
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Recommendation
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The Administration recommends that the Board approve the Fifth 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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Shannon Agor - Administrative Assistant III |
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Signed By: |
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Sean Kane - Senior Director - Facilities & Maintenance Services |
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Signed By: |
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Michele Wilborn - Budget Analyst |
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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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Keith Posley, Ed.D. - Superintendent |
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