Title: P1 Lease of Portables from GE Capital Modular Space

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:

P1  Approve the continuation of the lease of 37

       portables from GE Capital Modular Space in

       the not-to-exceed amount of $200,000.

·       During FY 2006, 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 given by the District.

·        At the conclusion of the leasing of a portable from GE Capital Modular Space, the District will pay a $1,000 removal fee for portables leased. 

Financial Impact:
The financial impact to the Capital Budget is estimated at $200,000.  The source of funds is the Capital Budget-Portable Leasing and the Facilities Management Operating Budget.

For Additional Information, contact:

Joseph Moore (moorej@palmbeach.k12.fl.us)