N.J. Admin. Code § 17:49-7.6

Current through Register Vol. 56, No. 23, December 2, 2024

Section 17:49-7.6 - Lease arrangements

(a) Any lease arrangement between a school district and a private entity shall specify that the private entity shall assume all of the financial and administrative responsibility for the management, operation, and maintenance of a school facility in return for an annual lease payment, and, if applicable, some or all of the revenue generated by a building, structure, or facility. In addition, for a school district other than a charter school, such a lease agreement shall be subject to N.J.A.C. 6A:26-10.10 and 10.11.

(b) A project involving a lease between the school district and the private entity shall be financed in whole by the private entity.

(c) The private entity shall assume full financial and administrative responsibility for a project of, or for the benefit of, the school district.

(d) A private entity shall operate the building, structure, infrastructure, or facility in accordance with school district standards, including, but not limited to, those involving health and safety, building maintenance, and repair.

(e) A lease term shall not exceed 30 years and shall be subject to all applicable law governing leases by a school district.

(f) Upon completion of the lease term, subsequent revenue generated, as well as any management, maintenance, and operation responsibility, and any capital improvement, shall revert to the school district or charter school, where applicable.

N.J. Admin. Code § 17:49-7.6

Adopted by 52 N.J.R. 898(a), effective 4/20/2020