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Meeting Date:
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5/23/2022 - 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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7. Action on a Request to Approve the Fourth 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 Fourth Amendment to the Lease Agreement - Banner Day Learning Corp.
2. Original Lease Agreement - Banner Day Learning Corp.
3. First Amendment to the Lease Agreement - Banner Day Learning Corp.
4. Second Amendment to the Lease Agreement - Banner Day Learning Corp.
5. Third Amendment to the 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 aor behavioral issues have become major barriers to those students' success in school.
In June 2018, the Board entered into a lease agreement with Banner Day Learning Corp. 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.
The Administration is requesting approval of the proposed Fourth Amendment to the lease agreement with Banner Day Learning Corp. that will extend the lease term from July 1, 2022, through June 30, 2023, which aligns with the term of the current partnership contract with Banner Day Learning Corp.
Lease Term: July 1, 2022, through June 30, 2023
The lease rent revenue shall be as follows:
July 1, 2022-June 30, 2023 = $107,070.00
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Fiscal Impact Statement:
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There are no expenditures associated with this term. Total lease revenue for the Banner Day Learning Corp. amendment is $107,070.
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Implementation and Assessment Plan
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Upon the Board's approval, the attached Fourth Amendment to the Lease Agreement with Banner Day Learning Corp. will be executed.
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Recommendation:
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The Administration recommends that the Board approve the attached Fourth 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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Sean Kane - Senior Director - Facilities & Maintenance Services
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Signed By:
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Brian Terrell - Manager I - Financial Planning
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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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