Item Coversheet

Action Item - 40.

Title: Lease Renewal to Accommodate Olney Elementary School Students at Triumphant Faith International Worship Center ($1,469,844)

Board of Education Meeting Date:

Action under consideration

 The Administration recommends that the Board of Education authorize The School District of Philadelphia as Lessee, through the Superintendent or his designee, to execute and perform a lease agreement, subject to funding, as follows:

Triumphant Faith International Worship Center 

Classroom and ancillary space

 Start Date:  6/1/2023

 End Date:  6/30/2027

 Lease Amount not to exceed:  $1,469,844
Olney Elementary School

 Renewal Options:  No


The School District of Philadelphia (District) has identified a need to continue to lease additional classrooms, office space, cafeteria and gymnasium for Olney Elementary in order to support student enrollment and programming needs.  By entering into this lease for rent and utilities, the District will be able to provide Olney Elementary with Annex space that is close to the main building.  This allows all students in grades k-1 and staffing supporting those students to be housed in one space. The implementation of this lease supports the Office of Operations’ goal of providing all students with a safe, healthy learning environment.  


Base Rent:
One Year                  Rate              Annual Base Rent    Monthly Base Rent
6/1/2023-6/30/2024 $11.50          $313,926.00            $24,148.09
7/1/2024-6/30/2025 $12.00          $302,376.00            $25,198.00
7/1/2025-6/30/2026 $12.50          $314,975.00            $26,247.92
7/1/2026-6/30/2027 $13.00          $327,574.00            $27,297.84

Total Rent - $1,258,851

Utilities: $210,993


Goals and Guardrails: Welcoming and Supportive Schools-Guardrail 1:  Every School will be a safe, welcoming and healthy place where our students, staff and community want to learn.   

 Related resolution(s)/approval(s): 
June 5, 2019; No.36 
 Funding Source(s): 

FY22-23 Operating

FY23-24 Operating
FY24-25 Operating
FY25-26 Operating
FY26-27 Operating

 Office Originating Request: Operations - Facilities