Approve First Amendment to Sublease Between the University of South Florida Board of Trustees and the School Board of Hillsborough County for the Pizzo Elementary School Site at the University of South Florida

The School Board of Hillsborough County and the University of South Florida Board of Trustees (USF) entered into a Sublease for real property on August 22, 1997, which will terminate on August 21, 2017.  The purpose of the Sublease was for the School Board to construct, maintain and operate Pizzo Elementary School on the USF Campus.  In order to ensure capacity beyond the next five year planning period,  School District staff requested an extension from USF and USF has agreed to extend this Sublease through June 30, 2023.  The new expiration date will coincide with the Sublease at USF Patel Partnership School that already runs through 2023.

 All other terms and conditions in the current Sublease between the School Board and USF for the Pizzo site will remain in full force and effect.  The USF Board of Trustees is scheduled to execute this First Amendment on June 14, 2012.  The State of Florida Department of Environmental Protection is the initial landlord to the lease with USF and must be the final party to execute this First Amendment.

Approval of the First Amendment to Sublease between the University of South Florida Board of Trustees and the School Board of Hillsborough County for the Pizzo Elementary School site on the USF campus will have no financial impact to the School Board.