Meeting Time: August 12, 2015 at 4:00pm PDT
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Agenda Item

15-1587 Approval by the Board of Education of an amendment to the Facilities Lease under the June 10, 2015 Lease Leaseback Agreement with Cahill/Focon, Joint Venture for the Whittier Expansion Project at Greenleaf Elementary School, located at 6328 East 17th Street Oakland, CA 94621. This amendment: 1) increases the Guaranteed Project Cost to pay for additional tenant improvements under Phase 2 & 3 of the Project; 2) revises the Lease Payment Schedule in Exhibit C of the Facilities Lease to change the term to one year; 3) converts 15% of Phase 2 & 3 tenant improvement payments made by the District into lease payments and; 4) provides for an option for the District to prepay the remaining term of the Facilities Lease without penalty. All other provisions of the June 10, 2015 Facilities Lease remain unchanged.