AeroSTEM Academy Board of Directors Meeting Agenda Packet April 2026
AeroSTEM Leases Modular Buildings Through 2030
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Description
AeroSTEM Academy is under a six-year operating lease for modular classroom buildings from January 15, 2024 to January 15, 2030, paying $121,200 annually. The lease is recorded as a $451,687 right-of-use asset with a $451,376 lease liability as of June 30, 2025.
Contract Details
Contract Amount
$121,200 paid in FY 2024-25; total future lease payments $484,800
Vendor
MODULAR BUILDINGS LESSOR
Agency
AeroSTEM Academy District, CA
Contract Type
FACILITIES
Document Date
April 13, 2026
Contract Term
January 15, 2024 – January 15, 2030
Renewal Date
2030-01-15
Renewal Info
Operating lease with fixed term from January 15, 2024 to January 15, 2030; no renewal options are described in the notes.
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