The North Vancouver School District has renewed a 10-year lease with Brockton private school for the former Westover Elementary site at 3467 Duval Rd. in Lynn Valley.
Westover was closed by the school district as a public school 15 years ago.
The lease runs from Aug. 1, 2019 to July 30, 2029, and includes clauses allowing either Brockton or the school district to end the lease early on certain dates, provided there is two years’ notice.
Terms of the lease allow Brockton exclusive use of the property from 7 a.m. to 5 p.m. when school is in session, but provides that the gym and at least one classroom be made available to community groups at other times as well as shared use of school fields in the evenings.
The lease also contains caps on enrolment, starting at 300 students in September 2019 and rising to 360 students by 2021.
Brockton will pay the school district rent starting at $418,000 in the first year, and rising to $554,000 in the final year of the lease.
Brockton will also pay the school district a security deposit of almost $80,000 plus an additional security deposit for any portables on site.
