Mountain View Whisman School District
Agenda Item for Board Meeting of 8/21/2025
Agenda Category: CONSENT AGENDA
Agenda Item Title: Approve the Exercise of the District's Option to Purchase in the Facilities Lease for the Multi-Site Window Replacement Project Pursuant to the Lease-Leaseback Contract with E.F. Brett and Company, Inc.
Estimated Time:
Person Responsible: Rebecca Westover, Ed.D., Chief Business Officer
Background:
The purpose of this agenda item is to seek Board approval of the exercise of the District’s option to purchase (“buyout”) the Facilities Lease for the Lease Leaseback Contract with E.F. Brett and Company, Inc. (“Contractor”) for the Multi-Site Window Replacement Project (“Project”) and authorize the District’s buyout of the Facilities Lease.
On December 8, 2022, District and Contractor entered into a Site Lease and a Facilities Lease (collectively “Leases”) for the development, construction, and installation of the Project. The contractor has completed the project. District will buyout the Facilities Lease by paying the Option Price pursuant to the terms of the Facilities Lease. A payment will be made to Contractor as required under Exhibit “C” to the Facilities Lease and title to the Project will be transferred to and vested in the District as contemplated by Education Code section 17406. Upon the District’s payment of this buyout, the Leases will immediately terminate.
Fiscal Implication:
The lease buyout payment totals $743,611.00 and is included in the current lease leaseback contract amount with EF Brett and Company, Inc. This contract is charged to Measure T.
Recommended Action:
It is recommended that the Board of Trustees approve the Exercise of the District’s Option to Purchase in the Facilities Lease for the Multi-Site Window Replacement Project Pursuant to the Lease-Leaseback Contract with E.F. Brett and Company, Inc.
|