Agenda Item Cover

On December 4, 2018, the School Board declared two vacant lots on the Sulphur Springs K-8 School as surplus property. A contract for sale and purchase was approved on June 25, 2019, for $24,000. Prior to closing on the property, a partial release of the Memorandum of Ground Lease associated with Certificate of Participation Bonds must be approved on the portion of the land to be sold. The bonds were associated with the media center addition and remodeling of an existing building into three classrooms at Sulphur Springs, which will not be impacted by the sale of this land.


DATE:	Tuesday, October 15, 2019
TO:	School Board Members
FROM:	Jeff Eakins, Superintendent
SUBJECT / RECOMMENDATIONS
Approve a Partial Release of the Memorandum of Ground Lease Related to Certificate of Participation Bonds at Sulphur Springs K-8 School (Operations Division)
EXECUTIVE SUMMARY
On December 4, 2018, the School Board declared two vacant lots on the Sulphur Springs K-8 School as surplus property. A contract for sale and purchase was approved on June 25, 2019, for $24,000. Prior to closing on the property, a partial release of the Memorandum of Ground Lease associated with Certificate of Participation Bonds must be approved on the portion of the land to be sold. The bonds were associated with the media center addition and remodeling of an existing building into three classrooms at Sulphur Springs, which will not be impacted by the sale of this land.
STRATEGIC OBJECTIVES
• Demonstrate "best practices" in all aspects of safety: student, employee, visitor, facility, transportation, and health • Construct and maintain facilities that create an environment conducive to teaching and learning
FINANCIAL IMPACT (Budgeted: No)
There is no financial impact related to the partial release of the memorandum of ground lease.
EVALUATION

SUBMITTED BY: Amber Dickerson, General Manager, Growth Management

		Christopher Farkas
		Deputy Superintendent, Operations (813) 272-4004
		B 7.04
Hillsborough County Public Schools (Florida) * Mtg.#20191015_932 (Board Meeting) * Section B Item# 7.04