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Meeting Date:
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6/28/2018 - 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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13. Action on Request to Approve the First Amendment to the Lease Agreement with Hmong American Peace Academy for Happy Hill School Located at 7171 West Brown Deer Road
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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 First Amendment to the Lease Agreement –
HAPA
2. Current Lease Agreement – HAPA
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File Attachment:
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Background:
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Since the 2004-2005 school year, Hmong American Peace Academy (HAPA) has been under contract with the Board to operate a non-instrumentality charter school. HAPA’s mission is to provide students with rigorous academics, character development, and Hmong cultural values, preparing them to excel in college, universities, and careers. HAPA envisions that students will enjoy college and career success, value Hmong culture and heritage, and exhibit responsible and peaceful leadership in local and global communities.
In June 2016, the Board approved a lease agreement with HAPA for Happy Hill School, located at 7171 West Brown Deer Road. The Administration is requesting approval to exercise the first extension option under the original lease agreement for five years.
Lease Term: July 1, 2018, through June 30, 2023
The lease rent revenue shall be as follows:
July 1, 2018 – June 30, 2019 = $342,917.00
July 1, 2019 – June 30, 2020 = $349,775.00
July 1, 2020 – June 30, 2021 = $356,771.00
July 1, 2021 – June 30, 2022 = $363,906.00
July 1, 2022 – June 30, 2023 = $371,184.00
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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 $1,784,553.00.
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Implementation and Assessment Plan
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Upon Board approval, the attached first amendment to the lease agreement shall be executed.
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Recommendation:
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Your Committee recommends that the Board approve the attached first amendment to the lease agreement with Hmong American Peace Academy for Happy Hill School, located at 7171 West Brown Deer Road.
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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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