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Meeting Date:
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2/26/2025 - 5:30 PM
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Category:
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OFFICE OF MANAGEMENT, ADMINISTRATION, PLANNING AND OPERATIONS
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Type:
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Action
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Subject:
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12.10 Ratifying and approving an amendment to a lease agreement with I. Park Riverdale LLC.
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District Goals:
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Enclosure
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File Attachment:
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Rationale:
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I. Park Riverdale LLC.
Term: 20 years (Remains the same)
Amount: $300,000.00 (To be reduced from the contract amount of $3,000,000.00)
Scope: The $300,000.00 deduction per annum is until the Ames Building is made available for District use.
The Lease Amendment, inter alia, provided for a staggered delivery of portions of the leased premises with part of the leased premises deliverable earlier than the remaining part of the leased premises and with the full monthly rental amount set forth in the Lease not payable until the entire leased premises is delivered.
Ratifying and approving an amendment to a lease agreement entered into between I. Park Riverdale LLC, as Landlord, and Yonkers Board of Education, as Tenant.
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Funding:
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450.5304.100000.9750.B2600 - Debt Service – Principal
450.5304.100000.9750.B2700 - Debt Service – Interest
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Resolution:
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WHEREAS, the YONKERS BOARD OF EDUCATION entered into a Lease Agreement, a copy of which is attached hereto as Exhibit A, between I. PARK RIVERDALE LLC, as Landlord, and YONKERS BOARD OF EDUCATION, as Tenant (hereinafter referred to as the “Lease”).
WHEREAS, the Lease was approved by the Trustees of the YONKERS BOARD OF EDUCATION by a resolution passed on December 21, 2022 which authorized, inter alia, a monthly rental amount of $250,000.00 with annual increases of 2.5% per year.
WHEREAS, a First Amendment to Lease Agreement (hereinafter referred to as the “First Lease Amendment”), a copy of which is attached hereto as Exhibit B, was executed by the landlord and the Superintendent, on behalf of the YONKERS BOARD OF EDUCATION.
WHEREAS, the First Lease Amendment, inter alia, provided for a staggered delivery of portions of the leased premises with part of the leased premises deliverable earlier than the remaining part of the leased premises and with the full monthly rental amount set forth in the Lease not payable until the entire leased premises is delivered.
WHEREAS, the purpose of this Resolution is to ratify and approve the First Lease Amendment.
NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:
1. The Trustees of the YONKERS BOARD OF EDUCATION do hereby ratify and approve the First Lease Amendment.
2. The officers, employees, attorneys, and agents of the YONKERS BOARD OF EDUCATION are hereby authorized and empowered to execute all instruments and to take all action necessary and appropriate to effectuate the purpose of this Resolution.
3. This Resolution shall take effect immediately.
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Approvals:
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Recommended By:
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Signed By:
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Michael Pelliccio - Director of Facilities III
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Signed By:
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Dr. Frank Hernandez - Associate Superintendent
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Signed By:
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Victor Martinez - Director of Purchasing
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Signed By:
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Finance Department - Finance Reviewer
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Signed By:
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Elizabeth Janocha - Deputy Commissioner
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Signed By:
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John Liszewski - Commissioner
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Signed By:
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Matthew Gallagher - Corporation Counsel
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Signed By:
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Anibal Soler, Jr. - Superintendent of Schools
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Vote Results:
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| Original Motion | Member Gail Burns Moved, Member Amjed Kuri seconded to approve the Original motion 'WHEREAS, the YONKERS BOARD OF EDUCATION entered into a Lease Agreement, a copy of which is attached hereto as Exhibit A, between I. PARK RIVERDALE LLC, as Landlord, and YONKERS BOARD OF EDUCATION, as Tenant (hereinafter referred to as the “Lease”).
WHEREAS, the Lease was approved by the Trustees of the YONKERS BOARD OF EDUCATION by a resolution passed on December 21, 2022 which authorized, inter alia, a monthly rental amount of $250,000.00 with annual increases of 2.5% per year.
WHEREAS, a First Amendment to Lease Agreement (hereinafter referred to as the “First Lease Amendment”), a copy of which is attached hereto as Exhibit B, was executed by the landlord and the Superintendent, on behalf of the YONKERS BOARD OF EDUCATION.
WHEREAS, the First Lease Amendment, inter alia, provided for a staggered delivery of portions of the leased premises with part of the leased premises deliverable earlier than the remaining part of the leased premises and with the full monthly rental amount set forth in the Lease not payable until the entire leased premises is delivered.
WHEREAS, the purpose of this Resolution is to ratify and approve the First Lease Amendment.
NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:
1. The Trustees of the YONKERS BOARD OF EDUCATION do hereby ratify and approve the First Lease Amendment.
2. The officers, employees, attorneys, and agents of the YONKERS BOARD OF EDUCATION are hereby authorized and empowered to execute all instruments and to take all action necessary and appropriate to effectuate the purpose of this Resolution.
3. This Resolution shall take effect immediately.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 7 Nay: 0. | | The motion Carried 7 - 0 | | | | | Kevin Cacace | Yes | | Dr. Rosalba Corrado Del Vecchio | Yes | | Gail Burns | Yes | | Sheila Greenwald | Yes | | Amjed Kuri | Yes | | Rosemarie Linton | Yes | | Lawrence Sykes | Yes | |
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