FACILITIESAPPROVED

School District of the City of Dearborn Resolution Feb 2023 Construction and Lease Agreement

Dearborn board approves Henry Ford College facility agreements

$6,699,800 (Authority's Facility Cost); Estimated Total Project Cost $18,850,000; Annual rental $424,000–$548,000Henry Ford CollegeSTATE BUILDING AUTHORITYFebruary 20, 2023

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Description

The School District of the City of Dearborn approved agreements with the State Building Authority for the Henry Ford College Entrepreneur and Innovation Institute/Technology Building renovation and addition. The State Building Authority will finance up to $6,699,800 of the facility cost within an $18,850,000 project, with annual rent between $424,000 and $548,000 and a contract completion date of August 31, 2023. The action includes construction assurance, property conveyance, lease, and, if necessary, easement arrangements.

Contract Details

Contract Amount

$6,699,800 (Authority's Facility Cost); Estimated Total Project Cost $18,850,000; Annual rental $424,000–$548,000

Vendor

STATE BUILDING AUTHORITY

Agency

Henry Ford College, MI

Contract Type

FACILITIES

Document Date

February 20, 2023

Contract Term

Contract completion date August 31, 2023; lease term not fully specified

Renewal Info

Resolution authorizes lease and easement arrangements tied to State Building Authority financing; specific renewal or extension options are not described in the provided text.