LILA Building Company

Mission: To own and maintain appropriate school facilities for lease to Lakes International Language Academy, a public charter school in Forest Lake, MN. One program service. School Lease: LILA Building Company leased three buildings to Lakes International Language Academy: (1) the original 68,000 s.f. property at 246 11th Ave SE (Lower School), (2) 21,000 s.f. at 121 11th Ave SE (Kinder Center), and (3) 94,185 s.f. 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 granted in Oct 2019 for Building 2 expansion, and in Jan 2020 for Building 3 expansion. The expansions allowed capacity for the School to have a full program from grades preschool through 12. The building company has no paid employees and approximately 10 volunteers: those who serve on its board, help review the tax filing, and LILA administrators.