The Historic Clinton House of Ithaca LLC Completes Purchase of Clinton House, New Roots Charter School to be Located in Downtown Ithaca Landmark

May 5th, 2009

FOR IMMEDIATE RELEASE
May 5, 2009

Contact:
Tina Nilsen-Hodges, New Roots Charter School, 607-339-6994
Frost Travis, Historic Clinton House of Ithaca LLC, 607-273-1654

The Historic Clinton House of Ithaca LLC Completes Purchase of Clinton House,

New Roots Charter School to be Located in Downtown Ithaca Landmark

(Ithaca, NY) The Historic Clinton House of Ithaca LLC announced today that it has finalized its purchase of downtown Ithaca's landmark Clinton House at 116 North Cayuga Street. At the same time, the New Roots Charter School Board of Trustees announced that they will locate the school in the Clinton House. 

The purchase of the building by The Historic Clinton House of Ithaca LLC is the final step in a process that was made public in December 2008, when the Limited Liability Corporation announced plans to purchase the building from Historic Ithaca. The sale was closed last week, with financing provided by the Tompkins Trust Company. 

The five-year lease agreement for the New Roots Charter School further solidifies the New York State Public High School's plans to begin classes in September 2009. Its decision to reside in the Clinton House, and in downtown Ithaca, puts the school in a central location that's easily accessible to students from across the region that the New Roots School will serve.
New Roots Charter School Principal Tina Nilsen-Hodges says "This is the best possible outcome that we could have hoped for-a downtown campus near the heart of Ithaca in a beautiful historic building and arts center, and a building that illustrates the principle that preservation and reuse of a building is the ‘greenest' possible choice." 

New Roots Charter School Board of Trustees Chair Jason Hamilton pointed out that this agreement is a fiscally sound choice as well. The first year of the five-year lease agreement calls for a total payment of about $110,000, a figure that includes a budget for historical preservation projects and some slight modifications to interior walls not visible from public spaces, as well as utilities and security deposit. It is well below the New Roots Charter School's total projected 2009-2010 facilities lease budget of $175,000. Total lease payments in years two through five will be dependent upon actual enrollment and the space needs of the school during those years.
Looking ahead, New Roots Charter School is currently finalizing plans for housing its Farm to School meal program, which will provide students with meals made from fresh food from local farms, and expanded facilities for physical education. Details will be announced once agreements are signed. "Our downtown location makes it possible for us to share facilities and resources with other community organizations, putting precious tax dollars to use to create an optimal experience for students while supporting organizations that provide vital community resources," said Nilsen-Hodges. School administrators have also begun the process of working with the City of Ithaca to develop a transportation plan that addresses traffic and pedestrian safety issues, and will provide more information as it becomes available.

This change in the Clinton House tenancy coincides with the plans of several current tenants to relocate, and the new building owners have assisted several current tenants in finding new accommodations in downtown. Current tenants will announce their own plans for re-location.

The Historic Clinton House of Ithaca LLC Managing Member Frost Travis thanked the Tompkins Trust Company for its support of the Clinton House project and also credited Historic Ithaca for its multi-year efforts on behalf of both the Clinton House and the State Theater. "We clearly owe a debt of gratitude to both the Tompkins Trust Company for providing the financing that made this project possible, and Historic Ithaca for its careful stewardship of the Clinton House and the State Theater. Without the efforts of both organizations, we wouldn't have the win-win situation we have today and it's very possible that these two pieces of living history would be sitting empty, or worse, be the victims of demolition or urban renewal. Thanks to both Historic Ithaca and the Tompkins Trust Company, both buildings will continue to be economically important parts of our downtown as well as historic landmarks we can all enjoy." 

As previously announced, Historic Ithaca agreed to transfer ownership of the State Theater to a separate not for profit corporation, as part of the sale of the Clinton House. The new corporation is charged solely with overseeing its operations, marking the first time since the theater re-opened several years ago, that it is being operated by an entity specifically chartered to oversee it. The agreement also calls for The Historic Clinton House of Ithaca LLC to consult with Historic Ithaca on any major repairs or renovations that may be needed at the Clinton House in the future.