Modesto City Schools Facilities Lease James Marshall Elementary School June 2025
Facilities Lease for Marshall Elementary Wellness Center Awarded
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Description
Modesto City Schools has awarded a facilities lease contract to [Developer] for the development, construction, and lease-back of the James Marshall Elementary School Expanded Learning Wellness Center Building and Site Improvements Project. The project will be delivered under a lease-leaseback model, with a Guaranteed Maximum Price to be established post-preconstruction and construction to be completed and leased back to the District for up to one year.
Contract Details
Contract Amount
To be determined after preconstruction; GMP (Guaranteed Maximum Price) not to exceed final amount as will be set post-preconstruction
Vendor
[DEVELOPER]
Agency
Modesto City Elementary, CA
Contract Type
CONSTRUCTION
Document Date
June 23, 2025
Contract Term
One year after Project completion and acceptance; start date memorialized in Memorandum of Commencement Date (Exhibit E); with possible extension or early termination as provided in contract
Renewal Info
Term may be adjusted by mutual written amendment; District may exercise a purchase option per contract; Term may be extended/shortened by events of default, purchase, or force majeure. The District may also terminate for cause or convenience; see Article 22. Purchase option available by paying off the remaining balance as described in Exhibit C, Attachment 3.
More from [DEVELOPER]
Related Contracts
san_benito_high_school_district_construction_provi.pdf
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