Governance Council Resolution No. 7-11- 2017 #1<\/p>\n
1 st Resolution: Make a Determination of the Necessity of Acquiring the Proposed<\/p>\n
Location of 4300 Cutler Avenue NE through a Lease Purchase Agreement<\/p>\n
Be It Resolved that 21 st Century Public Academy Governance Council has made the<\/p>\n
determination that it is necessary for the 21 st Century Public Academy Charter School to be<\/p>\n
located in a Permanent Location.<\/p>\n
Whereas, the location of 4300 Cutler Avenue NE best fulfills the Permanent Location<\/p>\n
determination; and will allow for continued growth of the student population and the<\/p>\n
proper, safe, and nurturing environment that will promote academic success for its<\/p>\n
students.<\/p>\n
Whereas, a Lease Purchase Agreement is the best fiscal solution for 21 st Century Public<\/p>\n
Academy Charter School<\/p>\n
The Governance Council for 21 st Century Public Academy stipulates that the following<\/p>\n
occurred:<\/p>\n
This determination was made by establishing a Long Range Planning Committee in<\/p>\n
April of 2015 to identify the long-range direction and goals for 21 st Century Public<\/p>\n
Academy Charter School and once a permanent facility determination was concluded,<\/p>\n
the Governance Council established a School Building Strategy Committee in<\/p>\n
November of 2015 and that this committee reported monthly to the 21 st Century<\/p>\n
Public Academy Governance Council.<\/p>\n
That for the school year that started in August of 2015 two additional portable building<\/p>\n
had to be added to accommodate the existing student population.<\/p>\n
That the existing building location lease was scheduled to expire in the summer of<\/p>\n
2017.<\/p>\n
That Albuquerque Public Schools had not been able to produce a satisfactory<\/p>\n
alternative location for the school after seven years and that Albuquerque Public<\/p>\n
Schools, itself, did not have any sites available for relocation of 21 st Century Public<\/p>\n
Academy.<\/p>\n
That the School Building Strategy Committee toured multiple possible locations<\/p>\n
throughout the Albuquerque area.<\/p>\n
And that the site at the 4300 Cutler Avenue NE location best fulfilled the requirements<\/p>\n
as specified in the Charter filed for the operation of 21 st Century Public Academy with<\/p>\n
the State of New Mexico, requiring ready access to Public Transportation to facilitate<\/p>\n
Off Site Instructional Outings, the potential for continued growth of the Charter<\/p>\n
School, and a safe, nurturing environment to promote academic success for its<\/p>\n
attending students.<\/p>\n
Fiscally the 21 st Century Public Academy Governance Council analyzed at its regular<\/p>\n
meetings of December 2015, February 2016, April 2016 the funding sources and<\/p>\n
types of arrangements (lease versus lease purchase versus Albuquerque Public<\/p>\n
Schools provided facilities) with a final resolution vote occurring in August 2, 2016 to<\/p>\n
pursue the Lease Option Purchase of the 4300 Cutler Avenue NE site location.<\/p>\n
21 st Century Public Academy<\/p>\n
Governance Council Resolution No. 7-11- 2017 #2<\/p>\n
2 nd Resolution: Determine the Estimate Cost of the proposed Building Location of<\/p>\n
4300 Cutler Avenue NE<\/p>\n
Be It Resolved that 21 st Century Public Academy Governance Council has evaluated and<\/p>\n
made the determination an Estimated Cost for the Acquisition of the property of the<\/p>\n
building and real property and the renovations of any existing building to conform to<\/p>\n
Federal and State of New Mexico Public School codes and standards not to exceed a limit of<\/p>\n
8.5 million dollars.<\/p>\n
Fiscally the 21 st Century Public Academy Governance Council analyzed at its regular<\/p>\n
meetings of December 2015, February 2016, April 2016 the funding sources and<\/p>\n
types of arrangements (lease versus lease purchase versus Albuquerque Public<\/p>\n
Schools provided facilities) with a final resolution vote occurring in August 2, 2016 to<\/p>\n
pursue the Lease Option Purchase of the 4300 Cutler Avenue NE site location.<\/p>\n
Estimated costs of proposed buildings or locations was part of this comprehensive<\/p>\n
review.<\/p>\n
21 st Century Public Academy<\/p>\n
Governance Council Resolution No. 7-11- 2017 #3<\/p>\n
3 rd Resolution: Review a Summary of Terms of the Proposed Lease Purchase<\/p>\n
Agreement for the 4300 Cutler Avenue NE<\/p>\n
Be It Resolved that 21 st Century Public Academy Governance Council has fully reviewed the<\/p>\n
entire Lease Purchase Agreement prior to forwarding it, as statutes require, to the New<\/p>\n
Mexico Public Education Department.<\/p>\n
That at its regular meeting of the Governance Council for 21 st Century Public Academy<\/p>\n
occurring on May 4, 2017 a full review of the proposed Lease Purchase Agreement<\/p>\n
between Meld LLC (the current property owners) and 21 st Century Public Academy<\/p>\n
(the charter school). It was further explained that attorneys for both the property<\/p>\n
owner and the charter school had actively been involved in the drafting of this<\/p>\n
Proposed Lease Purchase Agreement with direct attention and wording placed to be<\/p>\n
as compliant with the current instructions and statutes by the New Mexico Public<\/p>\n
Education Department as was possible to include.<\/p>\n
That a summary of Terms of the Proposed Lease Purchase Agreement has been<\/p>\n
produced and is included in this resolution.<\/p>\n
That a vote by the Governance Council for 21 st Century Public Academy occurred on<\/p>\n
May 4, 2017 after the full and thorough review of the entire Proposed Lease Purchase<\/p>\n
Agreement between Meld LLC (the current property owners) and 21 st Century Public<\/p>\n
Academy (the charter school) and that no changes or alterations were suggested or<\/p>\n
required of this Proposed Lease Purchase Agreement legal document.<\/p>\n
That the Governance Council for 21 st Century Public Academy authorized its Council<\/p>\n
President to sign the Proposed Lease Purchase Agreement on behalf of 21 st Century<\/p>\n
Public Academy.<\/p>\n
And that the Proposed Lease Purchase Agreement be forwarded to the New Mexico<\/p>\n
Public Education Department as required by statutes (section 22-26A- 4(B) NMSA<\/p>\n
1978, part of the Public School Lease Purchase Act, Chapter 22, Article 26A NMSA<\/p>\n
1978), which occurred on June 1, 2017 for its review and approval.<\/p>\n
Attachment for Resolution #3<\/p>\n
Summary of Terms of the Proposed Lease Purchase Agreement<\/p>\n
For 4300 Cutler Avenue NE<\/p>\n
Current Owner: Meld LLC<\/p>\n
Charter School: 21 st Century Public Academy<\/p>\n
Commencement Date: August 1 st , 2017 or on completion of building improvements<\/p>\n
Purchase Cost of Building\/Real Property: $5,500,000.00 (price cost fixed if no additional<\/p>\n
improvement\/construction cost overruns beyond estimate)<\/p>\n
Estimated Monthly Payment: $36,591.64 (to be reassessed if anticipated construction costs<\/p>\n
exceed estimates)<\/p>\n
Purchase Cost Interest Rate: 7% per year<\/p>\n
Term of Monthly Payments: 30 years<\/p>\n
Addendum 3: the current owner will perform all necessary renovations and construction to<\/p>\n
bring the current building into compliance with the NMPSFA requirements for a charter<\/p>\n
school, and if actual construction cost exceed estimate that an adjustment to the<\/p>\n
Proposed Lease Purchase Agreement final Purchase Cost (Base Cost plus Construction<\/p>\n
Cost) is required and will change estimated monthly payment amount<\/p>\n
a 1-year warranty exists on all Construction for defects or workmanship<\/p>\n
Addendum 5: a 30-year schedule of estimated monthly payments fulfilling the purchase<\/p>\n
cost of the Proposed Lease Purchase Agreement within the maximum 30-year period<\/p>\n
Part C Statement by the Governance Council for 21 st Century Public Academy that entering<\/p>\n
into this Proposed Lease Purchase Agreement is in the Best Interest of the charter school<\/p>\n
as required by Statutes by the New Mexico Public Education Department<\/p>\n
That this Lease Purchase Agreement will become terminated upon non-appropriation of<\/p>\n
funds<\/p>\n
That the Governance Council for 21 st Century Public Academy Charter School is not aware<\/p>\n
of any current or pending Legal actions<\/p>\n
That the Governance Council for 21 st Century Public Academy Charter School will<\/p>\n
appropriate into its annual budget process sufficient funds to fulfill this Proposed Lease<\/p>\n
Purchase Agreement each year<\/p>\n
That a Security Deposit must be made to the Owner of the property (Meld LLC) in the<\/p>\n
amount of $10,000.00 and that amount must be maintained each month even if the owner<\/p>\n
withdrawals from this account for agreement related expenses<\/p>\n
That there is an Option to Purchase the Building and related Real Property by the School in<\/p>\n
the amount of $1.00 within the terms of this Proposed Lease Purchase Agreement<\/p>\n
That the Closing Costs for the Purchase of the Building and related Real Property shall be<\/p>\n
split by both parties equally<\/p>\n
That there is no Obligation to Purchase the Building and related Real Property by 21 st<\/p>\n
Century Public Academy Charter School<\/p>\n
That 21 st Century Public Academy Charter School is NOT required to establish a Repair and<\/p>\n
Replacement Fund<\/p>\n
That 21 st Century Public Academy Charter School is responsible solely for all Utilities and<\/p>\n
related required deposits<\/p>\n
That 21 st Century Public Academy Charter School is responsible for maintaining the \u201cPublic<\/p>\n
Property\u201d status for exemption from County\/Local property taxes or must pay said<\/p>\n
Property Taxes if levied<\/p>\n
That 21 st Century Public Academy Charter School is responsible for maintaining Insurance<\/p>\n
Coverage (Liability, Structural, Flood, Earthquake) per the requirements of NMPSIA and<\/p>\n
name both owner and charter school as co-insured.<\/p>\n
21 st Century Public Academy<\/p>\n
Governance Council Resolution No. 7-11- 2017 #4<\/p>\n
4 th Resolution: Identify the Source (or Sources) of Funding to Enter Into a Lease<\/p>\n
Purchase Agreement for the 4300 Cutler Avenue NE<\/p>\n
Be It Resolved that 21 st Century Public Academy Governance Council restates that it has<\/p>\n
fully reviewed and identified funding sources to enter into a Proposed Lease Purchase<\/p>\n
Agreement for the 4300 Cutler Avenue NE building and real property included.<\/p>\n
That Source or sources of Funding to enter into a Proposed Lease Purchase Agreement<\/p>\n
for the 4300 Cutler Avenue NE location were presented to the 21 st Century Public<\/p>\n
Academy Governance Council over a series of regular meetings on December 2015,<\/p>\n
February 2016, April 2016, August 2016, November 2016, December 2016, February<\/p>\n
2017, March 2017, April 2017, and with a final review and vote to approve the entire<\/p>\n
proposed Lease Purchase Agreement including funding sources on May 4, 2017.<\/p>\n
The details of those funding sources are:<\/p>\n
1) A MOU with Albuquerque Public Schools to access funds from the 2010 Mill<\/p>\n
Levy election for the amount of $1,583,258.00.<\/p>\n
2) Lease Reimbursement Funds, application submitted annually to the State of<\/p>\n
New Mexico.<\/p>\n
3) Account 31600, HB-33 funds, with a current balance of $588,710.00.<\/p>\n
4) Account 31701, SB-9 funds, with a current balance of $171,897.00.<\/p>\n
5) HB-33 funds were re-established in the 2016 election for 5 years of<\/p>\n
additional funds for an approximate revenue stream of $2,000,000.00 to the<\/p>\n
21 st Century Public Academy over the next five years.<\/p>\n
That Source or sources of Funding to enter into a Proposed Lease Purchase Agreement<\/p>\n
for the 4300 Cutler Avenue NE location were presented by a Memorandum dated June<\/p>\n
1, 2017 and submitted to the New Mexico Public Education Department.<\/p>\n
21 st Century Public Academy<\/p>\n
Governance Council Resolution No. 7-11- 2017 #5<\/p>\n
5 th Resolution: Determine that a Lease Purchase Agreement is in the Best Interest of<\/p>\n
21 st Century Public Academy Charter School.<\/p>\n
Be It Resolved that 21 st Century Public Academy Governance Council has made the<\/p>\n
determination that a Lease Purchase Agreement is in the Best Interest of 21 st Century<\/p>\n
Public Academy Charter School.<\/p>\n
The Governance Council for 21 st Century Public Academy restates that after thorough and<\/p>\n
comprehensive determination that the Lease Purchase Agreement was and is considered<\/p>\n
the Best Approach for 21 st Century Public Academy to acquire a Permanent Facility and<\/p>\n
Location:<\/p>\n
This determination was made by establishing a Long Range Planning Committee in<\/p>\n
April of 2015 to identify the long range direction and goals for 21 st Century Public<\/p>\n
Academy Charter School and once a permanent facility determination was concluded,<\/p>\n
the Governance Council established a School Building Strategy Committee in<\/p>\n
November of 2015 to facilitate the information and selection of a permanent site<\/p>\n
location and that this committee reported monthly to the 21 st Century Public Academy<\/p>\n
Governance Council.<\/p>\n
That the existing building location lease was scheduled to expire in the summer of<\/p>\n
2017.<\/p>\n
That Albuquerque Public Schools had not been able to produce a satisfactory<\/p>\n
alternative location for the school during the past seven years and that Albuquerque<\/p>\n
Public Schools, itself, did not have any sites available for relocation of 21 st Century<\/p>\n
Public Academy.<\/p>\n
That more than twenty-four Governance Council meetings have occurred where<\/p>\n
continuing updates and reports have been made from Long Range Planning<\/p>\n
Committee, The School Building Strategy Committee and the Finance Committee to<\/p>\n
the 21 st Century Public Academy Governance Council in regards to determining the<\/p>\n
Best Course of action for 21 st Century Public Academy Charter School to secure a<\/p>\n
permanent location and how to undertake the financing of this goal.<\/p>\n
That the 21 st Century Public Academy Governance Council has thoughtfully and<\/p>\n
thoroughly reviewed the advantages and disadvantages of Lease versus Lease<\/p>\n
Purchase options versus Albuquerque Public School System providing a facility for<\/p>\n
attaining a permanent location for the Charter School.<\/p>\n
That the 21 st Century Public Academy Governance Council approved the Proposed<\/p>\n
Lease Purchase Agreement as submitted to the State of New Mexico Public Education<\/p>\n
Department with wording on page 29 of Part C, Item III: of the Proposed Lease<\/p>\n
Purchase Agreement:<\/p>\n
\u201cSchool has determined it is in the best interests of School to lease, with an option to purchase, the<\/p>\n
Premises from Landlord pursuant to this Lease, and the \u201cBoard\u201d has duly authorized entering into<\/p>\n
this Lease; and Landlord has determined it is in the best interests of Landlord to lease, with an<\/p>\n
option to purchase, the Premises to School pursuant to this Lease, and that Landlord has duly<\/p>\n
authorized entering into this Lease.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Governance Council Resolution No. 7-11- 2017 #1 1 st Resolution: Make a Determination of the Necessity of Acquiring the Proposed Location of 4300 Cutler Avenue NE through a Lease Purchase Agreement Be It Resolved that 21 st Century Public Academy Governance Council has made the determination that it is necessary for the 21 st Century […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[9],"tags":[],"_links":{"self":[{"href":"https:\/\/21stcenturypa.com\/wp\/index.php?rest_route=\/wp\/v2\/posts\/3918"}],"collection":[{"href":"https:\/\/21stcenturypa.com\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/21stcenturypa.com\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/21stcenturypa.com\/wp\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/21stcenturypa.com\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3918"}],"version-history":[{"count":1,"href":"https:\/\/21stcenturypa.com\/wp\/index.php?rest_route=\/wp\/v2\/posts\/3918\/revisions"}],"predecessor-version":[{"id":3919,"href":"https:\/\/21stcenturypa.com\/wp\/index.php?rest_route=\/wp\/v2\/posts\/3918\/revisions\/3919"}],"wp:attachment":[{"href":"https:\/\/21stcenturypa.com\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/21stcenturypa.com\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3918"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/21stcenturypa.com\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}