File #: 13-1110    Version: Name: Ground Lease Agreement - Joint Use - Oakland Military Institute College Preparatory Academy - 2013-2028 School Years
Type: Agreement or Contract Status: Passed
File created: 5/22/2013 In control: Facilities Committee
On agenda: 5/22/2013 Final action: 6/12/2013
Enactment date: 6/12/2013 Enactment #: 13-1133
Title: Approval by the Board of Education of a Ground Lease Agreement - Joint Use between District and Oakland Military Institute College Preparatory Academy, for the latter's use of dedicated space within District's facility known as Longfellow Elementary School located at 3877 Lusk Street, Oakland, CA and 880 39th Street, Oakland, CA, as more specifically described in Exhibit "A" of Agreement, commencing July 1, 2013 and ending June 30, 2028 (15 Years), at a sum of $110,000.00 annually, with Annual Rent for the Premises increasing by ten thousand dollars ($10,000.00) on the anniversary of the Commencement Date at the beginning of year six (6) and on each subsequent five (5) year anniversary thereafter, including any option period, as follows: ? Years 1 through 5 - $110,000.00 ? Years 6 through 10 - $120,000.00 ? Years 11 through 15 - $130,000.00a. a Rent Increases during the 2 option periods shall follow the same 5 year incremental increase.
Attachments: 1. 13-1110 Ground Lease Agreement - Joint Use - Oakland Military Institute College Preparatory Academy - 2013-2033 School Years (May 22, 2013), 2. 13-1110 13 - Ground Lease Agreement - Joint Use - Oakland Military Institute College Preparatory Academy - 2013-2028 School Years (June 12, 2013)
Contact: Cate.Boskoff@ousd.k12.ca.us, Timothy.White@ousd.k12.ca.us
Title
Approval by the Board of Education of a Ground Lease Agreement - Joint Use between District and Oakland Military Institute College Preparatory Academy, for the latter's use of dedicated space within District's facility known as Longfellow Elementary School located at 3877 Lusk Street, Oakland, CA and 880 39th Street, Oakland, CA, as more specifically described in Exhibit “A” of Agreement, commencing July 1, 2013 and ending June 30, 2028 (15 Years), at a sum of $110,000.00 annually, with Annual Rent for the Premises increasing  by ten thousand dollars ($10,000.00) on the anniversary of the Commencement Date at the beginning of year six (6) and on each subsequent five (5) year anniversary thereafter, including any option period, as follows:
Years 1 through 5 - $110,000.00
Years 6 through 10 - $120,000.00
Years 11 through 15 - $130,000.00a.
a Rent Increases during the 2 option periods shall follow the same 5 year incremental increase.
 
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