FINANCIAL_SERVICESONGOING

AeroSTEM Academy Board of Directors Meeting Agenda Packet April 2026

CORE Charter Startup Loan Extended to 2028

$527,500 outstanding (original $850,000 with $250,000 forgiven and partial repayments)AeroSTEM Academy DistrictCORE CHARTERApril 13, 2026

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Description

AeroSTEM Academy continues to carry a $527,500 related-party loan from CORE Charter, originating from startup funding and expense support. The memorandum of understanding sets a 3% interest rate and extends the repayment deadline to June 30, 2028.

Contract Details

Contract Amount

$527,500 outstanding (original $850,000 with $250,000 forgiven and partial repayments)

Vendor

CORE CHARTER

Agency

AeroSTEM Academy District, CA

Contract Type

FINANCIAL_SERVICES

Document Date

April 13, 2026

Contract Term

Loan repayment extended to June 30, 2028

Renewal Date

2028-06-30

Renewal Info

Original repayment due June 30, 2023 under 2018 MOU; repayment date extended first to June 30, 2025 and then further to June 30, 2028, with a 3% interest rate remaining in place.

Issuing Agency