LILA Building Company

Lila Building Company (lbc) leased three buildings to lake international language academy: (1) the original 68,000 s.f. Property at 246 11th ave se (lower school), (2) 21,000 s.f. Property at 121 11th ave se (kinder center), and (3) 94,185 s.f. Property at 19850 fenway ave n (upper school), all in forest lake, mn. The lbc has two sets of facility bonds payable at this time. The 2014 series bonds refinanced the 2006 bonds and funded the purchase of land and the construction of the 40,000 s.f upper school. The 2019 series bonds funded the expansion of buildings 2 and 3 to their current sizes. As part of the expansion of Building 2, the single family home at 107 11th ave se, forest lake, owned by Lila Building Company, was razed and the two properties combined. Occupancy was granted in 2019 for the Building 2 expansion, and in jan 2020 for the Building 3 expansion. The expansions allowed capacity for the school to have a full program from grades preschool through 12.