CONSTRUCTIONAPPROVED

Tracy Unified School District Contract Monte Vista Middle School New MPR and Library Project (Increment 2) 2026-05-26

District Approves Lease-Leaseback with JL Construction

Tracy Joint UnifiedJL CONSTRUCTION INCMay 26, 2026

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Description

Tracy Unified School District entered into a lease-leaseback agreement with JL Construction, Inc. dated May 26, 2026 to finance and construct the Monte Vista Middle School New MPR and Library (Increment 2) Building Package. The contract sets a 456‑day construction period after board approval of the total sublease amount, includes $3,000 per day in liquidated damages, and will establish the final not‑to‑exceed price later based on an 11.33% contractor fee formula.

Contract Details

Vendor

JL CONSTRUCTION INC

Agency

Tracy Joint Unified, CA

Contract Type

CONSTRUCTION

Document Date

May 26, 2026

Contract Term

Lease Term begins May 26, 2026 and ends on the date the final Sublease Payment is due or earlier contract termination; construction completion deadline 456 calendar days after Board approval of amendment stating Total Sublease Amount

Renewal Info

Lease term begins May 26, 2026 and automatically ends when the final sublease payment is due or upon earlier termination under the contract documents; the lease term and sublease payments may be extended only as provided in the Sublease and by approved amendments or change orders of the governing board.