2007-08 Adopted Plan - Wake County Public School System

Systemwide - Facility LeasesInitiative: Leases - Real Estate ServicesThere are several elements included in the increased budget requestfor the 2007-08 fi scal year. The Bannister Properties Lease, the WinnDixie lease and the Crossroads lease all increased, in accordance withthe Board of Education approved contracts, for fi scal year 2007-08. ThePeakway lease decreased by $6,170 and the Dubois lease was renewedto June 30, 2008. The Bannister Property lease, Town of Garner lease,Crossroads and the Peakway Development lease are rentals in supportof Administrative functions. The Dubois lease and Winn Dixie lease arerentals providing school space to help support the growth of the system.Implementation Timeline & Budget Needed:The following shows the need over the next three fi scal years:2007-08 2008-09 2009-10Administrative LeasesBannister Lease (Warehouse) $ 30,375 $ 30,375 $ 0Crossroads LeaseJuly - AprilMay - June958,430197,869989,347204,0531,020,268210,2362% Contingency 23,126 23,868 24,610$ 1,179,425 $ 1,217,268 $ 1,255,114Peakway Development Lease (BusParking)$ 20,200 $ 20,200 $ 0Town of Garner Lease $ 1 $ 1 $ 0Subtotal: $ 1,230,001 $ 1,267,844 $ 1,255,114Instructional LeasesDubois Lease $ 44,773 $ 46,937 $ 48,345Winn Dixie Lease $ 503,650 $ 506,337 $ 506,337Moore Square additional parking $ 16,800 $ 16,800 $ 16,800Wake Forest Rolesville High additionalparking$ 10,000 $ 10,000 $ 10,0002007-08 2008-09 2009-10Subtotal: $ 575,223 $ 580,074 $ 581,482Less: cost from previous year ($1,681,752) ($1,805,224) ($1,847,918)02.6530.801.311.0318.0940 Total: $ 123,472 $ 42,694 ($ 11,322)Bannister Properties Lease: Budget code 02.6530.801.311.0318.0940$30,375Annual payment recurring next two fi scal years.Crossroads Lease: Budget code 02.6530.801.311.0318.0940CURRENT SQUARE FOOTAGE (74,201 sq. ft.)July 2006-April 2007 $927,512.50May 2007-June 2007 $191,685.92July 2007-April 2008 $958,429.60May 2008-June 2008 $197,869.34July 2008-April 2009 $989,346.70May 2009-June 2009 $204,052.74July 2009-April 2010 $1,020,267.70May 2010-June 2010 $210,236.16Add 2% annual contingency for excess use.Peakway Development Lease: Budget code 02.6530.801.311.0318.0940$20,200Annual payment recurring next two fi scal years.Moore Square additional parking:July 2007-June 2008 $16,800July 2008-June 2009 $16,800July 2009-June 2010 $16,800Wake Forest Rolesville High additional parking;July 2007-June 2008 $10,000July 2008-June 2009 $10,000July 2009-June 2010 $10,000261 FY 2007-08 Plan for Student Success