School Lease Amendment Funds Renovations and Extends Term
Covington Multi-School Building CorporationPublic Authority · Covington, IN- Disclosed value
- Up to $1,575,000 per semiannual payment during renovation; thereafter up to $3,150,000 annually, subject to reduction based on bond principal and interest plus $5,000
- From contract
- Document date
- Nov 3, 2026
The 30-second brief
Covington Community School Corporation amended its lease with Covington Muti-School Building Corporation to fund additional renovations and improvements to the school premises. The amendment extends the lease by 25 years and authorizes additional rent of up to $1.575 million per semiannual payment during renovation and up to $3.15 million annually thereafter.
Covington Muti-school Building Corporation holds this facilities contract with Covington Multi-School Building Corporation.
Term as filed: Extended 25 years from the closing date on the Lessor's Ad Valorem Property Tax First Mortgage Bonds, Series 2026.
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Contract details
- Contract type
- Facilities
- Amount
- Up to $1,575,000 per semiannual payment during renovation; thereafter up to $3,150,000 annually, subject to reduction based on bond principal and interest plus $5,000
- Document date
- November 3, 2026
- Term
- Extended 25 years from the closing date on the Lessor's Ad Valorem Property Tax First Mortgage Bonds, Series 2026
- Vendor
- Covington Muti-school Building Corporation
- Source document
- Covington Community School Corporation Contract Amendment to Lease 2026-11-16 (Contract)
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Questions about this contract
Who was awarded the facilities contract by Covington Multi-School Building Corporation?
Covington Muti-school Building Corporation was awarded this facilities contract by Covington Multi-School Building Corporation, as recorded on November 3, 2026. The contract value is Up to $1,575,000 per semiannual payment during renovation; thereafter up to $3,150,000 annually, subject to reduction based on bond principal and interest plus $5,000.
How much is the Covington Muti-school Building Corporation contract with Covington Multi-School Building Corporation worth?
The Covington Muti-school Building Corporation contract with Covington Multi-School Building Corporation is valued at Up to $1,575,000 per semiannual payment during renovation; thereafter up to $3,150,000 annually, subject to reduction based on bond principal and interest plus $5,000, covering facilities work.
What type of contract is this?
This is a Facilities contract, documented as a contract record, structured as a not-to-exceed (ceiling) agreement.
Where was this contract approved?
This contract appears in Covington Community School Corporation Contract Amendment to Lease 2026-11-16 (Contract), dated November 3, 2026 from Covington Multi-School Building Corporation. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What is Covington Multi-School Building Corporation currently buying?
Explore Covington Multi-School Building Corporation's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.