Mountain View Whisman School District
Agenda Item for Board Meeting of 8/17/2023
Agenda Category: CONSENT AGENDA
Agenda Item Title: Approval of Ground Lease with Mountain View Owners LLC for the land on which the District’s Employee Housing Project at 777 Middlefield Avenue is located
Estimated Time:
Person Responsible: Rebecca Westover, Ed.D., Chief Business Officer
Background:
Staff is brining for approval the ground lease for the land on which the District’s Employee Housing Project at 777 Middlefield Avenue is located.
Fiscal Implication:
$900,000 rent during the construction period.
After the construction period rent will be as outlined below (3% increase to the “Base Rent”after the construction period).
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Year 1
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Year 2
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Original rent
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$ 1,800,000
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$ 1,854,000.00
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$ 1,909,620.00
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Recommended Action:
It is recommended that the Board of Trustees approve the ground lease, as presented.
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