Title: P8 Lease of Portables from GE Capital

Recommendation:

I recommend approval of the continuation of the lease of portables from GE Capital Modular Space             and authorize the Superintendent and Board Chairman to sign all necessary documents.

Description:

Approve the continuation of the lease of 37 portables from GE Capital Modular Space in the not-to-exceed amount of $178,152.

·      During FY 2005, GE Capital Modular Space portables were leased on a month-to-month basis at the rate of $380 per classroom portable, $521 per restroom portable and $750 per office trailer.  GE Capital Modular has agreed to continue the leases at the current rate.

·      GE Capital Modular Space is responsible for repairing electrical devices, heating, ventilating, air conditioning equipment, roof leaks and for making structural repairs as required.

·      A lease of any portable may be terminated at any time during the lease period with a 30 day written notice give by the District.

·      At the conclusion of the leasing of a portable from GE Capital Modular Space, the District will pay a $1000 removal fee for portables leased.

Financial Impact:
The financial impact to the Capital Budget is estimated at $178,152.  The source of funds is the Capital Budget – Portable Leasing and the Facilities Management Operating budget.

For Additional Information, contact:

Joseph M. Moore   moorej@palmbeach.k12.fl.us

Joe Sanches