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Meeting Date:
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Category:
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Type:
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Subject:
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8.18 (Item #19) Resolution No. 11/12-2 to Authorize Execution of Lease Leaseback Contract Documents for the design and installation of custom horizontal beam bleachers at Northgate High School. |
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LCAP (Local Control Accountability Plan) Goal:
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Enclosure:
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File Attachment:
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Summary:
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On June 28, 2011, the Board approved the allocation of $500,000 of Measure C Funds for the design, construction and installation of custom bleachers at Northgate High School. The installation of the bleachers will compliment the new athletic field and track constructed at the high school in partnership with the Northgate Community Pride Foundation ("Foundation"). The Foundation will contribute private funds toward the installation of the customer bleachers. District staff recommends the use of the lease leaseback construction delivery method authorized under section 17406 of the Education Code. In order to comply with section 17406 of the Education Code, the parties must enter into a facilities lease and a site lease. These leases do not increase the cost or risk to the District, but are a legally necessary formality associated with the lease leaseback process. Pursuant to the site lease, the District will lease the project site to the installer in order to complete the project. The installer will then lease the project site back to the District pursuant to the facilities lease, under which the District will be required to make lease payments to the installer that track the construction work completed on the project. |
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Funding:
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Recommendation
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Approve Resolution as Presented |
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Approvals:
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Recommended By: |
Signed By: |
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Greg Rolen, Esq. - General Counsel |
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Signed By: |
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Bryan Richards - Chief Financial Officer |
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Signed By: |
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Steven Lawrence - Superintendent |
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