Modesto City Schools Facilities Lease Catherine Everett Elementary School June 2025
Facilities Lease Awarded for Wellness Center Construction Project
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Description
Modesto City Schools has awarded a facilities lease for development and construction of the Catherine Everett Elementary School Expanded Learning Wellness Center Building and site improvements to a selected Developer through a competitive process. The contract utilizes a lease-leaseback structure with a Guaranteed Maximum Price to be finalized post-preconstruction. The term extends one year after completion, with District purchase option available.
Contract Details
Contract Amount
Guaranteed Maximum Price (amount to be determined after preconstruction services are completed)
Vendor
[DEVELOPER]
Agency
Modesto City Elementary, CA
Contract Type
CONSTRUCTION
Document Date
June 23, 2025
Contract Term
Commences upon delivery of completed Project to District. Lease term is one (1) year after completion, unless earlier terminated or purchased.
Renewal Info
Contract may be extended or terminated per conditions in the Facilities Lease. District has an option to purchase the facility after 90 days from completion. Any extensions, amendments, or changes require written agreement by both parties. Guarantees one-year minimum lease term after completion, with potential for earlier termination or buyout.
More from [DEVELOPER]
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san_benito_high_school_district_construction_provi.pdf
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