Facilities Action Item |
DATE: Tuesday, April 20, 2010
TO: School Board Members
FROM: MaryEllen Elia, Superintendent
SUBJECT / RECOMMENDATIONS
Approve Fourth Amendment to Lease Between the School Board of Hillsborough County and The Park at Bay Plaza Investors, LLC to Provide Intake and Eligibility Services for the School Readiness and Voluntary Prekindergarten Programs
EXECUTIVE SUMMARY
On June 12, 2007, the School Board of Hillsborough County approved the Third Amendment of Lease between the School Board and The Park at Bay Plaza Investors, LLC (the Landlord) to extend the School Board's existing lease term until June 30, 2010 for 5,277 square feet of office space located at Bay Plaza II, Suite 210, 9325 Bay Plaza Boulevard, in Tampa. School Board staff worked with Landlord for a lease extension for an additional two years commencing on July 1, 2010 and ending on June 30, 2012. The rent for the state fiscal year 2010-2011 will be reduced to $16.00 per square foot ($84,432.00 annually) compared to the current $16.50, a reduction of $2,638.56 per year. Beginning state fiscal year 2011-2012, rent will increase back to $16.50 per square foot ($87,070.56 annually). All other terms and conditions of the original June 16, 2000 Lease apply to the extended term.
The School Readiness and Voluntary Prekindergarten Programs have been located at the Bay Plaza location since June 2000, and due to the present economic climate, Landlord has offered the School Board favorable financial incentives to remain on site.
ANNUAL DISTRICT GOAL(S) AND CRITICAL SUCCESS FACTOR(S)
FINANCIAL IMPACT (Budgeted: Yes)
Contracts for the School Readiness and Voluntary Prekindergarten Programs permit the use of federal/state funds to lease facilities for program operation. One hundred percent of the funds will be used for payment of rental fees, as stated above, for the term of the extended lease term commencing July 1, 2010 and expiring June 30, 2012.
EVALUATION
SUBMITTED BY: Denise A. Taraschi, Property Specialist
Gwen W. Luney
Assistant Superintendent for Student Services and Federal Programs (813) 272-4878 |
Daniel J. Valdez
Deputy Superintendent (913) 272-4166 |
A 6.02 | |
Hillsborough County Public Schools (Florida) * Mtg.#20100420_398 * Section A Item# 6.02 |