School Board Acts on EDA Lease Purchase Option

The Newport News School Board moved to exercise a purchase option affecting lease arrangements among ADM&HS, LLC and the Economic Development Authority of the City of Newport News. The action will allow the district to acquire building improvements at Achievable Dream Middle and High School and extend the lease term to July 26, 2033.

Scope & details

The full contract record, as filed.

Contract type

FACILITIES

Contract term

Lease originally 20 years from July 27, 2006; extended 7 years upon exercise of option, to July 26, 2033

Renewal date

2033-07-26

Renewal

Exercise of the improvements purchase option under the ADM&HS Lease automatically extends the 20-year lease term by 7 years, resulting in a new lease end date of July 26, 2033 for the related lease arrangements with the Economic Development Authority.

Document type

Resolution

Source document

Newport News School Board Resolution 26-06 2026-01-01

Related contracts

Other contracts from Economic Development Authority of the City of Newport News.

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Newport News School Board Resolution Authorizing Exercise of Purchase Option 2026-07-23

PENDING

Newport News City Public Schools, VirginiaJul 23, 2026

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the facilities contract by Newport News City Public Schools?

Economic Development Authority of the City of Newport News was awarded this facilities contract by Newport News City Public Schools, as recorded on January 1, 2026.

What type of contract is this?

This is a Facilities contract, documented as a resolution record.

Where was this contract approved?

This contract appears in Newport News School Board Resolution 26-06 2026-01-01 (Resolution), dated January 1, 2026 from Newport News City Public Schools. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Economic Development Authority of the City of Newport News hold?

Economic Development Authority of the City of Newport News may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Economic Development Authority of the City of Newport News's profile

What is Newport News City Public Schools currently buying?

Explore Newport News City Public Schools's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

View Newport News City Public Schools's profile