The lease term is from Aug. 11. 2010, to June 30, 2011, for completion of Phase 1, the excavation of a new practice field, seeding the field, and removing the existing track, and Phase 2 which consists of installing utility conduits, drainage for field and track, constructing the track, grading and seeding the field, and putting in gravel walks and driveways. If necessary extension of the lease term for the first two phases can be done by action of the Board of Education.
According to the document, all costs, expenses, liabilities and obligations regarding the leased premises shall be paid by the MLEF.
As for use of the premises, the lease states that the MLEF can use it solely for the purpose of completing construction of the facility which is to be donated to the Board of Education upon completion of the project. It further provides that all activity on the leased premises is to be performed at the MLEF’s expense.
The MLEF is required to get prior written approval from the Board of Education for all improvements, to show proof of adequate funding, and to be open for inspection by the Board of Education. Utilities will be paid by the Board of Education during the construction period.
The lease further requires that the MLEF will carry its own risk insurance in an amount not less than $1 million. It also contains a default clause which protects the rights of the Meigs Local School system.
Once the project is completed and passes inspection by the Meigs Local Board of Education, the premises with all improvements are to be donated by the MLEF free of charge to the school district at which time the lease will be terminated.
In compliance with the lease requirement to “show proof of adequate funding,” information submitted by MLEF shows the following:
Phase 1, the excavation for the new practice field, seeding, and removing the existing track has been completed and is fully paid for.
Phase 2, the installation of utility conduits, drainage for field and track, construction of the track, grading and seeding, and installing gravel walks and driveways will be done this fall and is fully funded.
Phase 3, constructing the Gateway building, pouring foundations and fencing the track is partially funded but will require a loan to complete.
Phase 4, installation of bleachers, lighting and scoreboard, visitor concessions, landscaping and fencing, is not fully funded.