Section 071-64-3 - LEASE AND LEASE-PURCHASE SPACEA.Temporary and interim instructional space1) A school administrative unit may lease or lease-purchase temporary or interim instructional space with State support for a period not to exceed five (5) years.2) All requests for State support for leases for temporary or interim instructional space must include a justification in the context of a long-range facilities plan.3) The school administrative unit may appeal to the Commissioner if the five-year period restriction presents an undue burden to the unit. The decision of the Commissioner is final.4) A lease for temporary or interim instructional space may be converted to a lease-purchase when it is consistent with the school administrative unit's long-range facilities plan. NOTE: Pursuant to PL 2017 Chapter 284, Sec. VVVV-9 "A school administrative unit engaged in a state-approved lease-purchase agreement for regional programs and services space that serves students from 2 or more school administrative units is eligible for state support for a maximum of 5 years."
B.Permanent small instructional space1) A school administrative unit may convert a lease of temporary or interim instructional space to a lease-purchase of permanent small instructional space that consists of new buildings, or additions to existing buildings, that are secured to a permanent foundation. These lease-purchases must be entered into to replace existing leases of current temporary or interim instructional space and are eligible for state support at an amount not to exceed the annual cost currently approved for existing leases and for a period not to exceed ten years from the beginning date of the financing agreement.C.Application1) Each unit requesting State support for a lease of temporary or interim space and permanent small space shall apply annually for such support on forms supplied by the Department. Applications must be submitted no later than September 15 in the fiscal year prior to the fiscal year of State support.D.Subsidizable Rate1) The Commissioner shall determine the maximum dollar amount per square foot eligible for subsidy for leased and lease purchased space on July 1 of the year prior to the granting of State support.05-071 C.M.R. ch. 64, § 3