Title
MOTION TO APPROVE THE SECOND AMENDMENT TO THE FLORIDA STATE UNIVERSITY CITY OF PEMBROKE PINES CHARTER ELEMENTARY SCHOOL CHARTER AGREEMENT.
Summary Explanation and Background
SUMMARY EXPLANATION AND BACKGROUND:
1. On October 23, 2002, City Commission approved to enter into a 15 year charter agreement with Florida State University (FSU) to establish a Developmental Research Charter Laboratory School pursuant to Sections 1002.32 and 1002.33, Florida Statutes.
2. The aforementioned charter agreement was set to expire on June 30, 2018. On March 7, 2018, City Commission approved the first amendment to the aforementioned charter agreement extending the agreement expiration date by one (1) year to June 30, 2019.
3. The Charter allows for modification of the charter upon written agreement executed by both parties.
4. The City of Pembroke Pines and FSU have determined that it is in their best interest to extend the term of the Charter for one (1) year from the date of the end of the term of the First Amendment. Also, the last sentence of Section 4.4 of the Charter shall be amended to state, "As the Sponsor of the School and for its research and evaluation responsibilities, FSU shall be paid the fixed annual sum of $340,000 as a University Branding and Research Fee." This second amendment raises the current FSU Administrative fee from $250,000 to $340,000, financially impacting the upcoming 2019-2020 FSU Elementary Charter School Budget with a $90,000 expenditure increase.
5. Request City Commission approve the second amendment to the Florida State University City of Pembroke Pines Charter Elementary School charter agreement extending the First Amendment expiration date by one (1) year to June 30, 2020 and increasing the FSU Administrative Fee from $250,000 to a "University Branding and Research Fee" $340,000.
Financial Impact
FINANCIAL IMPACT DETAIL:
a) Initial Cost: FSU University Branding and Research Fee of $340,000, to be in effect w...
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