Agenda - Council - 07/12/2022 - Laserfiche WebLink

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Affiliated Nonprofit Building Corporation (Minn.Stat. §124E.13,subd. 3 and 4). A charter school may decide to organize a nonprofit building corporation to renovate or purchase an existing facility to serve as a school or expand an existing building or construct a new school facility. However,the charter school must meet the following criteria: (i) has been in operation for at least six consecutive years; (ii) as of June 30 has a net positive unreserved general fund balance in the preceding three fiscal years; (iii) has long-range strategic and financial plans that include enrollment projections for at least five years; (iv) completes a feasibility study of facility options that outlines the benefits and costs of the options; and (v) has a plan which describes project parameters and budget. An affiliated nonprofit building corporation must not serve as the leasing agent for property or facilities it does not own. A charter school that leases a facility from an affiliated nonprofit building corporation that does not own the leased facility is ineligible to receive charter school lease aid. Therefore, in order for a charter school to receive lease aid for a facility that it leases from an affiliated nonprofit building corporation, the affiliated nonprofit building corporation must have fee title to the property being leased to the charter school. The State is immune from liability resulting from a contract between a charter school and an affiliated nonprofit building corporation. A charter school or its affiliated building corporation must receive a positive review and comment from the Commissioner before initiating any purchase agreement or construction contract that requires an expenditure exceeding that set in Minn. Stat. § 123B.71. (The remainder of this page is intentionally left blank.) C-7