001Okay, here we go. I'm going to call to order the uh Leaport Community School Board Meeting. Today's Tuesday, March 3rd, 2026. This is a special school board meeting and it's 10:15 a.m. If you would please rise and join me in saying the Pledge of Allegiance. I pledge algiance to the flag of the United States of America and to the republic for which it stands. One nation under God, indivisible, with liberty and justice for all. >> All right, Secretary Batty, would you please do roll call? >> Roll call. Mr. Arnold, >> present. >> Mr. L >> here. >> Miss Jackson, >> present. Miss Farley, >> present. Monica, present. Vice President King, >> here. President Seabird >> here. >> You have a board. >> All right. Uh, next item is public comment. There is none. Uh, I
002just want to say real quick, uh, welcome aboard, uh, Nate LS. It's your first school board meeting. Exciting one. >> Uh, happy that you're here. >> It's like this every time, right? >> That's right. We've never had this many people till you get on the board. Um, okay. So, the first item of is, uh, new business. Uh there was consideration for the recommendation for approval of resolution approving the agreement for educational and training program with city of Leaport redevelopment district. Dr. Wood, >> thank you. Um, so previous to this morning's meeting, the Leaport City Council, the plan commission, and the redevelopment commission all resended the previously approved new pilot tax agreement related to Microsoft's data center project and authorized a new tax agreement developed in partnership with the city of Leaport and the redevelopment commission.
003Under the prior structure, the district would have received funding through a capped payment in lie of taxes over a 40-year term. The resolution before you this morning authorizes a new agreement instead in which instead provides for Microsoft to pay its property taxes in full with the redevelopment commission allocating 15% of that revenue which is the maximum permitted under Indiana law for educational programming to the Leaport Community School Corporation for 20 years. The revised structure is significantly more favorable to the district and establishes a dedicated revenue stream of a magnitude that is, to my knowledge, unprecedented for a public school corporation in our state, creating an extraordinary extraordinary opportunity for long-term investment in our students and our schools. If approved by the board this meet this morning, this resolution marks the final step in formalizing this
004partnership. I want to extend our sincere appreciation to Mayor Dery, Bert Cook, the city of Leaport, the Leaport City Redevelopment Commission, and the Leaport City Council for their vision, support, and commitment to our school district. Without their leadership, this partnership would not be before us today. So, it is with tremendous excitement for the future of Leaport Community Schools that I ask the board to consider this resolution. >> So, I want to make a motion to approve resolution. >> So, move. Thank you, Jim. Second. >> Second. >> Thank you, Tucker. Uh, some discussion. Anyone have any discussion or comments? >> Um, I guess one question I have is are there any conditions that we how we spend this money? Does it have to only go to the city of a poor area schools or is it
005unfettered access? >> It is it is funding that we are able to allocate to the educational programming within our entire school district at our discretion. >> Thank you. I have a question. um uh timeline uh as taxes come it's a little bit behind I think so what would be the timeline of a project like this >> so because this is running through the property tax system it is dependent on assessment happening of a completed structure before we would receive funding so property taxes work in a rears um so once a structure is built through the Microsoft development then it would be assessed in January for payment the following calendar year so we believe at this point that there will be some partial build by Janu February of 2027. Um, which would result then in a
006partial payment uh for the first time in in 2028. Um, and then probably the first significant payment to us in 2029. >> And real quick to BA based on because we we we don't know the amount of taxes yet because we're not sure about the assessed value. Is that correct? >> That is correct. So it would um it would be difficult to put an exact number to it right now because it is dependent on the assessment and so until we have a structure that's actually been built and assessed. Um we can't really speculate the exact number um but we certainly believe due to the structure of this new agreement that it's going to be significantly more lucrative than the previous agreement. >> That's great. >> Any other questions or comments? So just for full disclosure
007to the public, what we're doing today is no sort of allocation of those funds or anything. We are just agreeing to accept those funds. >> That is correct. Okay. >> It will and then as we get closer to the date when the funds would start flowing to our district, it will run through our budgeting process, which is follows all the transparency laws and all of the typical guidelines that we utilize for um board approval through our budget process as those funds begin to uh flow in as revenue in the coming years. Thank you. >> I just think it's worth noting that the uh the city and the redevelopment commission did not have to do this. This was a choice that the mayor led and the city w willfully accepted and followed. Um we are already
008have a lot of tiff districts in this city that we don't get any money from. So, the fact that your vision uh Mayor Derid to get this uh to help our schools is is appreciated by everyone in our community and especially everyone sitting at this table. We have a motion. We have a second. All those in favor of passing this resolution say I. >> I opposed. >> Passes 70. There is no other business. Any other board comment? The future next meeting is uh March 9th, 2026 at 6 PM. Someone want to make a motion to adjurnn? >> I'll make that motion. >> Thank you, Nate. Second. >> Second. Thank you, Monica.