The executive director of the Fort Monroe Authority has signed a letter of intent with the Virginia STEAM Academy, laying the groundwork for locating the state’s first science and technology-related public boarding school at the historic former military site in Hampton.

Glenn Oder signed the agreement after it received unanimous support from the authority’s Board of Trustees on Oct. 24, a news release says.

The letter of intent “provides a framework and statement of material terms” that would be used as a basis of the lease agreement.

Negotiations between the academy and the authority will continue, with the goal to sign a lease by the end of the year, the release states.

Two Suffolk women, M. Caroline Martin, Suffolk’s 2012 First Citizen, and Judy Stewart, an education consultant, are spearheading the academy project, which they founded in 2010.

Their goal is to establish an institution specializing in science, technology, engineering and applied mathematics.

The academy concept includes a public boarding school for high school students from across the commonwealth, a summer academy for middle school students, online courses and professional development.

“It is expected to attract some of the most able and motivated students from across the commonwealth regardless of ZIP code,” the release states.

“Fort Monroe is an ideal location,” Martin stated in the release. “The fort’s history and proximity to STEAM companies and institutions will help us fulfill our mission to nurture future generations of creative, ethical, and imaginative STEAM leaders who understand and integrate the humanities.”

Stewart added, “Situating the STEAM Academy at the fort will give us routine access to some of the commonwealth’s most significant STEAM assets. We will impact the commonwealth’s STEAM teaching and learning and economic future. We are excited to be moving forward with our discussions.”

The STEAM acronym stands for science, technology, engineering and applied mathematics.

The academy expects to open by the summer of 2015 in the “inner fortress” area of the historic fort initially, in buildings 5, 10 and 139, the release says. It will pay for maintenance, repairs and utilities in the buildings it occupies.

Eventually, the academy would occupy at least 19 buildings, the release says, “meaning it would have a prominent presence in the community.”

“We look forward to our continued discussions with officials from the STEAM Academy, with the intent of reaching a deal soon,” Oder stated in the release.

“Having the Academy located at Fort Monroe will help bring additional attention to this community as a place to live, work, play, and learn. We believe this will be a mutually beneficial partnership, one that could help shape the fort for years to come.”