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Meeting Date:
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5/26/2022 - 5:30 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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6. Action on a Request to Approve the Third Amendment to the Lease Agreement with Milwaukee Teacher Education Center, Inc., at the 65th Street School Located at 6600 West Melvina 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 - MTEC
2. Original Lease Agreement - MTEC
3. First Amendment to the Lease Agreement - MTEC
4. Second Amendment to the Lease Agreement - MTEC
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File Attachment:
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Background:
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Milwaukee Teacher Education Center operates the Milwaukee Environmental Sciences Academy (MESA), which is a Milwaukee Public Schools non-instrumentality charter school program that serves students from K4 through 8th grade. The program is guided by the Expeditionary Learning Education philosophy: students are prepared for college and career success through a program that combines engaging projects, academic rigor, and character development in a safe, child-centered environment.
In January 2013, the Board entered into a lease agreement with Milwaukee Teacher Education Center for the 65th Street School property, located at 6600 West Melvina Street. In June 2018, the Board authorized a lease amendment that extended the lease term through June 30, 2020. In June 2020, the Board authorized a lease amendment that extended the lease term through June 30, 2022.
The Administration is requesting approval of the proposed Third Amendment to the Lease Agreement with Milwaukee Teacher Education Center that will extend the lease term from July 1, 2022, through June 30, 2025, which aligns with the term of the current charter school contract with Milwaukee Teacher Education Center.
Lease Term: July 1, 2022-June 30, 2025
The lease rent revenue shall be as follows:
July 1, 2022-June 30, 2023 = $352,956
July 1, 2023-June 30, 2024 = $360,015
July 1, 2024-June 30, 2025 = $367,215
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Fiscal Impact Statement:
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There are no expenditures associated with this term. Total lease revenue for the MTEC amendment is $1,080,186.
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Implementation and Assessment Plan
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Upon the Board's approval, the attached Third Amendment to the Lease Agreement between Milwaukee Public Schools and Milwaukee Teacher Education Center, Inc. will be executed.
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Recommendation:
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Your Committee recommends that the Board approve the attached Third Amendment to the Lease Agreement with Milwaukee Teacher Education Center, Inc.
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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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