TrekNorth School Board Minutes

TrekNorth High School
Emergency Board Meeting to discuss lease; 9-11-2003

Members Present: Mengelkoch, Krueger, Haynes, Plum, Benner, Munson,

I. Re-negotiation of Simonson Lease:.

Added Expenses:

Discussion of Amended Lease between TrekNorth High School and Bemidji Management Company. Administrative meeting on 9/10/03 between TrekNorth Administrative staff and representatives of Simonson and Bemidji Management Corp.

Actual build-out costs were $486,153.00 (actual) vs the estimate of $417,000.00 . The additional expense will be amortized over the duration of the lease.

Question of affordability, appears to be supportable by current budget.

For list of overage expenses, see addenda

Motion to sign the amended lease with Bemidji Management Corporation and to sign the promisory not. Krueger, Sec. Haynes. Passes unanimous.

Adjourn. Motion Haynes, Sec. Munson unanimous.


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