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Meeting Date:
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5/25/2021 - 5:00 PM
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Category:
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Adoption of Consent Agenda
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Type:
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Action
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Subject:
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Approval of Amendment to Current Sublease and Future Lease for Additional Space for eDCSD and DC Support
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End Statements:
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Enclosure
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Attachment #1: First Amendment to Sublease Agreement
Attachment #2: Lease
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File Attachment:
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Summary :
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On June 9, 2020 the Board of Education approved the relocation of eDCSD to 373 Inverness Pkwy under a sublease to HOPE Online Learning Academy (HOA) for 10,357 square feet for classroom and office space. This sublease expires on July 31, 2022.
HOA informed Douglas County School District (DCSD) of the opportunity to obtain additional space currently leased by HOA. The total of the existing space currently used by eDCSD and additional available space is 26,373 square feet.
Staff, Realtors, and WOLD Architects (WOLD) have met with HOA and conducted site visits to perform a feasibility analysis for use of this space for additional offices for eDCSD and the entire DC Support Center. A building code analysis was performed by WOLD which confirms there are no zoning, permitting or code issues and that the space can be occupied immediately. There are also no covenant restrictions from the Inverness Business Park for educational use other than approval of any changes to the exterior, which will not be needed other than a change in signage. The only facility modifications needed are infrastructure improvements to support Information, Technology and Security systems and equipment. Furniture will also be needed.
In order to lease this space long term, an amendment to the current sublease to HOA is required through July 31, 2022, and a follow-on direct lease with the property owner is required for 7 years and 3 months, beginning August 1, 2022, with options for extensions.
Improved learning space for the DC Support Center has been identified in the Master Capital Plan. This additional space could satisfy this need for the current program.
Funding for the current sublease for 2020-2021 is $192,838 and is funded by cash-in-lieu funds. Funding for both the existing space and additional space through the amended sublease followed by the direct lease will be an average of $523,577 per year and will be funded by cash in lieu funds.
Facility modifications for Information, Technology, and Security and furnishing of the additional space is estimated to cost $376,328 and will be funded by non-bond capital projects fund.
This Lease constitutes a multiple-fiscal year financial obligation of the Tenant, therefore, the Board of Education of the Tenant hereby irrevocably pledges out of cash reserves no less than the outstanding obligation for Rent for the remaining balance of the Term for purposes of satisfying and securing its obligation to make payments for subsequent fiscal years of this Lease. The total rent to be paid over the term of the lease is $4,712,199.90.
An amendment to the current sublease and future direct lease with the property owner is forwarded to the Board of Education for approval.
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Funding:
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Recommendation:
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That the Board of Education approve the Amendment to the Current Sublease and Future Lease for Additional Space for eDCSD and DC Support under adoption of Consent Agenda.
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Approvals:
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Recommended By:
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Signed By:
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Richard Cosgrove - Chief Operations Officer
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Signed By:
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Kate Kotaska - Chief Financial Officer
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Signed By:
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Corey Wise - Superintendent
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Vote Results:
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| Original Motion | | Member Anthony Graziano Moved, Member Susan Meek seconded to approve the Original motion 'That the Board of Education approve the Amendment to the Current Sublease and Future Lease for Additional Space for eDCSD and DC Support under adoption of Consent Agenda.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 7 Nay: 0. | | The motion Carried 7 - 0 | | | | | Ray D | Yes | | Christina Ciancio-Schor | Yes | | Anthony Graziano | Yes | | Krista Holtzmann | Yes | | Kevin Leung | Yes | | Susan Meek | Yes | | Elizabeth Hanson | Yes | |
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