The July 20th, 2004 edition of the Missoulian reported on the lease of Prescott School, a public school, to the private school, Missoula International School. (see link below)
Notice the lease price of $20,000/year for the first three years and $30,000 for the last two years of the lease; what a ridiculously low price! This lease price is lower than the lease price for the private school (St. Josephs) of Roosevelt School and the lease of Mount Jumbo School by Walla Walla College.
See page post titled "Is MIS taking MCPS to the Cleaners" and the page titled, "MIS' Sweetheart Lease" for more detailed information on the original lease ratified in 2004.
"The primary grades program has been so well received," she [Julie Lennox] said, "that the school has expanded to fifth grade this year, two years ahead of the original goal".
From the first day of the lease MIS is expanding into more grade levels due to leasing one of our public schools.
Prudent and loyal trustees would NOT have leased to the competition and would NOT have continued the lease with two lease extensions (the first for three years, the second for five years).
This lease is NOT a win-win situation as Marta Pierpoint states in the article. It is a win-lose situation, with MCPS, thus taxpayers and the neighborhood on the losing side. This lease has cost the district a staggering amount; a math professor estimated the loss just last year (2010-2011) at $500,000!
See earlier post titled, "Low rent will hurt, not help district" for explanation of earlier loses.
The article states, "For several years, MIS has searched for a building large enough to house its entire educational program, Lennox said." The later statement emphasizes that it is not easy finding a good location for a school. In other words, MIS could not have found a building in the private sector comparable with what Prescott offers at such a low price!!
The Prescott School/MIS lease is no doubt a sweetheart lease in addition to a "buddy lease".
Click on link below for Missoulian the July 20th, 2004 edition in which the article reporting on the lease appears.
Private school leases Prescott : Missoulian: News and Resources for Western Montana
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