The Administration recommends that the Board of Education authorize The School District of Philadelphia, through the Superintendent or his designee, to execute and perform a Lease Agreement for a building and grounds, as follows:
With:
Drexel University or its affiliates
Purpose:
To lease a new school building to be built by Drexel University or its affiliates for Powel Elementary School and Science Leadership Academy -- Middle School.
Start Date:
Commencement Date of Lease Upon Completion of Construction and School District’s Acceptance of Building and Grounds.
End Date:
35 years after the Commencement Date
Location:
Powel Elementary School and Science Leadership Academy – Middle School
Annual Rent:
$12 per year
Contribution of School District towards Construction Costs of Building:
$7,000,000
Renewal Options: No
Location:
A portion of 3601 Filbert Street along 36th Street between Warren and Filbert Streets.
Description:
The School District intends to enter into a Lease Agreement with Drexel University for a new building and grounds for the co-location of Powel Elementary School (“Powel”) and Science Leadership Academy – Middle School (“SLAMS”). Drexel University or its affiliates will construct the building and grounds and will deliver same to The School District of Philadelphia on or before July 1, 2020 (“Delivery Date”) for an August 2020 building opening. If Drexel does not deliver the building on or before the Delivery Date, then Drexel shall cover the costs of any additional rent The School District incurs for SLAMS after the Delivery Date. The School District will contribute $7,000,000 to the costs of the construction of the new building and grounds. Drexel University or its affiliates shall bear all other costs of construction for the building and grounds. The Lease will commence on the acceptance of the building and grounds by the School District (“Commencement Date”). The Lease will terminate 35 years from the Commencement Date. The School District shall bear all operational costs of the building and grounds under the Lease, including maintenance, repairs, cleaning, building engineering, utilities, trash, and snow removal. The School District shall make certain capital improvements and repairs to the Building. The Lease will incorporate the Memorandum of Understanding (MOU), and the parties will agree to revisit the terms of the MOU every 5 years based on the Commencement Date of the Lease.
Anchor Goal:
Operations Anchor Goal - Other - Provide 100% of students with a learning environment that is safe, healthy, and welcoming.
Related resolutions(s)/approval(s):
August 18, 2016; B-25