By SVERRE BAKKE
The White Salmon Valley School Board on Tuesday unanimously approved a lease agreement that gives The Insitu Group "exclusive use of approximately 12,658 usable square feet" of the Park Center building.
Terms of the agreement call for Insitu to lease space on both levels of the 21,015-square-foot Park Center from May 1, 2006 to April 30, 2009.
Insitu, a fast-growing technology company that, according to its Internet Web site, "specializes in the innovative design, development and production of unmanned aerial vehicles and tools for intelligence, surveillance and reconnaisance," also will have the option to extend the lease for two additional years.
White Salmon Schools Superintendent Dale Palmer and school board director Tom Stevenson handled negotiations for the school district, which had been looking for ways that would help it cover the cost of maintaining the Park Center after the city of White Salmon deeded the property back.
Palmer said the lease agreement accomplishes the school district's goal and has the added benefit of enabling one of the community's major employers to meet its needs for work space.
"It's a pretty sweet deal for both parties," Palmer noted. "It's a win-win for Insitu because it gives them room to grow their business, and it's a win-win for the school district because it provides us with revenue to pay for the upkeep of our facilities here."
In the first year of the lease, Insitu agrees to pay the school district $86,004 in rent, "payable in 12 monthly installments of $7,167 per month."
Moreover, Insitu plans to spend approximately $321,311 on leasehold improvements, which will accrue to the school district at no cost when the lease expires.
In the coming months, contractors for Insitu will begin remodeling the company's leased space to create a work environment that will support its business operations.