Bloomfield School District Awards Facilities Contract to Bloomfield School Building Corporation (September 2024)

Scope & details

The full contract record, as filed.

Contract amount

Up to $325,000 per payment during renovation; $750,000 per year during lease term; semiannual installments of $375,000 after first installment; plus taxes, assessments, and arbitrage-related payments

Contract type

FACILITIES

Contract term

Twenty (20) years from Lessor’s acquisition of fee simple title, with option to renew for a like or lesser term

Renewal

Lessee may renew the lease for a like or lesser term under similar conditions by providing written notice to Lessor. Lessee also has an option to purchase the premises at any time at a price equal to the amount needed for Lessor to liquidate all indebtedness, including premiums, accrued interest, and liquidation expenses, not exceeding the capital actually invested by Lessor. Upon full discharge of obligations and non-exercise of renewal or purchase options, title transfers automatically to Lessee.

Document type

Contract

Source document

bloomfield-r-xiv-school-districtcontract2024-09-26_1a5.pdf

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the facilities contract by Bloomfield School District?

Bloomfield School Building Corporation was awarded this facilities contract by Bloomfield School District, as recorded on September 26, 2024. The contract value is Up to $325,000 per payment during renovation; $750,000 per year during lease term; semiannual installments of $375,000 after first installment; plus taxes, assessments, and arbitrage-related payments.

How much is the Bloomfield School Building Corporation contract with Bloomfield School District worth?

The Bloomfield School Building Corporation contract with Bloomfield School District is valued at Up to $325,000 per payment during renovation; $750,000 per year during lease term; semiannual installments of $375,000 after first installment; plus taxes, assessments, and arbitrage-related payments, covering facilities work.

What type of contract is this?

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

Where was this contract approved?

This contract appears in bloomfield-r-xiv-school-districtcontract2024-09-26_1a5.pdf (Contract), dated September 26, 2024 from Bloomfield School District. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Bloomfield School Building Corporation hold?

Bloomfield School Building Corporation may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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