School Board staff has recently been advised of the availability of space suitable for a school site for the August 2007 school year, at the Whitney Andrews Lang Center for Learning at the Museum of Science and Industry ("MOSI"). This school site would accommodate approximately 300 kindergarten through fifth grade students and would alleviate the need for continued use of portable classrooms presently located at Shaw Elementary School.

The initial lease term is for a period of five years with the option to renew for an additional five year term. The monthly lease fee is $25,000, equating to $300,000 per year and the full terms and conditions of this lease are attached hereto as Exhibit "A".