The Massapequa Board of Education announced they've extended a lease agreement with Nassau BOCES for the Carmans Road School, a continuing agreement that marks a major revenue stream for the District.
At last week's Board of Education meeting, Deputy Superintendent Alan Adcock discussed the particulars of the deal, which included a significant bump in rent for BOCES at the property, located at 1 Carmans Road in Massapequa Park.
“There has been a two-year lease renewal on the Carmen’s Road School, which we’ve rented to Nassau BOCES for many, many years,” he said. “The current lease expires on June 30, 2013, and the new agreement would extend that lease until June 30, 2015. The renewal calls for a rent increase of three percent in the first year, and a three percent increase the second year. The rent for the first year will be $1,050,000...a considerable amount more than prior leases have been.”
Adcock also expressed the financial significance of the rent that the District draws from the lease, both in terms of the student programs it makes possible and the impact to the wallets of local residents.
“It’s good revenue for Massapequa School,” he said. “It helps keep taxes down, and in light of the tax cap, it also preserves the instructional programs, because if the school district were to lose that revenue from the Carmen’s Road School, under the tax cap it would lead to the reduced programs.”