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Board approves multi-year lease with Austin Centers for Exceptional Students; district expects rent to rise to ~$900,000 by year three
Summary
The governing board unanimously approved Resolution No. 573 to lease additional space to Austin Centers for Exceptional Students (ACES). The phased agreement will increase annual rent from about $216,000 at the current site to roughly $600,000 in year one at the new location and about $900,000 by the final phased year, district staff said.
The Paradise Valley Unified School District Governing Board voted unanimously to approve Resolution No. 573, a multi-year lease agreement with Austin Centers for Exceptional Students Inc. (ACES) to occupy space on the Air Libre campus.
District CFO/operations staff described the contract as phased: the district currently receives about $216,000 annually from ACES at the Cholla Annex. Under the new lease, rent would increase to approximately $600,000 in the first year after the move and about $900,000 annually by the final phased-in year; the lease includes an inflationary…
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