| | | | | | | | 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: 5/25/2023
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| | | | | | | | 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:
| | | With:
Triumphant Faith International Worship Center
| | | Purpose:
Classroom and ancillary space
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| | | | | | | | | | Start Date: 6/1/2023
| | | End Date: 6/30/2027
| | | Lease Amount not to exceed: $1,469,844
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| | | | | | | | | | Location:
Olney Elementary School
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| | | | | | | | | | Description:
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.
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| | | | | | | | | | Related resolution(s)/approval(s):
June 5, 2019; No.36
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| | | | | | | | | | Funding Source(s):
FY22-23 Operating
FY23-24 Operating
FY24-25 Operating
FY25-26 Operating
FY26-27 Operating |
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| | | | | | | | | | Office Originating Request: Operations - Facilities
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