Hmmmm...this IS interesting.
Where have I heard that before?
Excellent find. I admit it, your google-fu is better than mine.Found their agreement:
http://www.boarddocs.com/in/indps/B.../$file/MOU - IPS - Circle Centre 03202015.pdf
Exhibit D, on page D2, the Simon Youth Foundation is responsible for the rent.
Now, what this agreement would actually be called, I have no idea. If you rent something and then let someone else use it, what is THAT called? Rent? Sub-lease?
Here's how I see it playing out.
Simon Property Group (SPG, or whatever it is called) owns the actual space. Simon Youth Foundation (SYF) is a charity. SPG donates the space to SYF and can probably take a tax deduction for the fair market value. Now, the reality is, this probably isn't the best space in the mall. They probably can't get premium rent for it. But, this way, they basically get something out of it.
This other agreement between IPS and SYF is basically just a professional services contract. SYF is "hiring" IPS, as a subcontractor, to provide teaching services. What I didn't see in my skimming is if this is an accredited "school." I'm not sure if this is possible, but I wonder if it isn't really a school at all, but a place that helps kids "study" to pass the GED (or whatever it is called now). By labeling it a "school" though, they get good will in the community and the Simon family gets to promote the philanthropy narrative.
That, my friend, is a long list.Once again, this law is simply silly.
ETA:
Apparently the school teached repnaziism.
You must spread some Reputation around before giving it to eldirector again.