Noël Russell-Unterburger, Chief Financial and Operating Officer, presented the opportunity. Navigator seeks to lease the bottom floor of building adjacent to 407 Main Street. Costs are affordable. A material revision of the WPS charter is necessary because this is a second location. The due date for submission of the material revision is May 27, 2024 and it will be on the SBE agenda on September 11, 2024 or September 12, 2024. The lease still requires consents from lenders. The financial models can support the expansion. Committee Member Shara Hegde confirmed that the term of the lease for the new space would be the same as the term of the current building.

Tom Peraic, General Counsel, offered a summary of the lease. The building is adjacent to 407 Main Street. It is envisioned that Navigator will develop the space to be a part of WPS. Financial terms for the lease have been agreed upon with the landlord and the final non-financial terms of the lease are in the final stages of negotiation. 

Tom Peraic, General Counsel, offered a summary of the construction contract for Gilroy Prep School. The contract concerns the addition of 4 modular classrooms to GPS. The process for procurement followed an RFP process and was done in conjunction with and recommended by PCSD.

Tom Peraic, General Counsel, offered a summary of the construction contract for Hayward Collegiate. The additional space will be allow for TK-6. The process for procurement was done in conjunction with and recommended by PCSD. There could be a very slight revision in the price of the contract subject concerning a minor electrical issue.