This Shared Services Agreement creates a long‑term partnership for the design, construction, and shared use of new athletic fields and other school facilities. The Borough receives priority access to designated facilities, while the Board of Education serves as the lead contracting agency for a public competitive bid, with the Borough reimbursing actual costs up to a $10.5 M cap. Key elements include:
• Effective 23 June 2026, lasting through 30 June 2036 (10 years) with optional renewal by mutual written resolution.
• No rent; reimbursement of actual costs, subject to a $10.5 M maximum commitment.
• Public‑use hours defined; Fourth of July celebration receives priority scheduling.
• Insurance, indemnification, and record‑keeping requirements comply with NJ Uniform Shared Services Act.