Several weeks ago the college announced its decision to place a satellite facility in downtown Rockford—in the Stewart Building.
This will be known as the Learning and Opportunities Center. It will begin this year to address the needs of students who live west of downtown and find it challenging to get to the college’s east-side campus to continue their education. See more of the story at: http://www.rrstar.com/carousel/x1353756358/Stewart-Square-to-become-Rock-Valley-College-site
The press releases, newspaper coverage gave no financial details. The Board of Trustee packet that is posted on the college’s website referenced a lease agreement but did not provide the lease terms. Based upon a Freedom of Information Act request the following details were obtained:
Almost 11,000 square feet of space is being rented:
The monthly rent is $1.00 per square foot, $12.00 per year. There is an annual increase in the cost based upon the Consumer Price Index.
It is left to the reader to obtain the other details concerning the lease terms.
Click on the photocopy to enlarge:
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