In response to concerns expressed by its leaseholders, Edmonton Public Schools has decided to extend the timeframe of its lease rate increase by two years. Now, rather than phasing in the lease rate increases over four years, community organizations will see their lease rates increase over a six year period. In addition, the lease rate increase for 2013-2014 has been limited to $1 per m2 per month for all leaseholders.
“I am hopeful these two measures will assist our valued leaseholders in successfully adjusting to the new rates,” says Edgar Schmidt, Superintendent of Schools. “However, I remain steadfast in my decision to close the gap between current district lease rates and the higher rates we need to charge to recover our costs.”
Edmonton Public Schools is facing significant financial pressures and can no longer afford to heavily subsidize the lease rates it charges community organizations.
“We cannot in good conscience continue to use instructional funds intended for the classroom to subsidize our lease rates, even though we greatly value the services provided to students, families and the wider community.”
Leaseholders will receive updated lease agreements from the District within the next two weeks. Click here to view a copy of the letter.