Charter Status 1 1999 - Charter Technical Career Center Legislation - PowerPoint PPT Presentation

Charter Status 1

• 1999 - Charter Technical Career Center Legislation  Consortium Agreement with DBCC, VCSB, & FCSB • 2001 - ATC Charter Established  Lease Agreement between VCSB and DBCC • 2006 - Charter renewed • 2009 – School Districts’ Funding Ends g • 2011 - Charter extended for two years • June 30, 2013 - Charter expires unless renewed June 30 2013 Charter expires unless renewed 2

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• School Accountability • Career and Technology Education Academies • State Budget Cuts State B dget C ts • District Budget Cuts g • Demographic, Enrollment & Instructional D li Delivery Changes Ch 4

• Charter sponsors’ CEOs have been discussing possible actions since Summer 2011, ibl i i S 2011 including nonrenewal/termination of charter. • Consortium Agreement Section 9 addresses termination and alternative methods for asset distribution, liability assumption, and i investment recoupment. 5

• Premise – Recognition of limited resources No cash exchange  • DSC receives ownership and all responsibilities and liabilities associated with “ATC” parcel which includes approximately 25 acres, building, l d l b ld furniture, fixtures and equipment. • Ownership represents recoupment of DSC’s entire vested interest and is limited to use by DSC for postsecondary operations and curriculum only. d i d i l l 6

• VCSD retains ownership of remaining acreage, approximately 75 acres, which includes access, pp y , , drainage and utility easements to “ATC” parcel. • VCSD and FCSD vested interests are addressed with future sale of remaining land. Sale date uncommitted and determined solely by VCSD. • DSC has first right of refusal to purchase remaining land at market value at such time that g VCSD determines to sell property. 7

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DRAFT FOR DISCUSSION

• January - VFATC Advisory Board notified of January VFATC Advisory Board notified of June 30, 2013 charter expiration and sponsor discussions discussions. • March - Presentations to Sponsors and VFATC Board regarding possible termination. • Spring – Document preparations. Spring Document preparations • May - y Final Authorization by each Sponsor. y p • June - Dissolutionment & Closing. 10