UNITED STATES SECURITIES AND EXCHANGE COMMISSION

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) — ~~March~~July 2027, 2006

CentraCore Properties Trust

(Exact name of Registrant as specified in its declaration of trust)

Maryland		1-14031		65-0823232
(State or other jurisdiction of incorporation or organization)		(Commission File Number)		(I.R.S. Employer Identification No.)2

11376 Jog Road, Suite 101, Palm Beach Gardens, Florida 33418

(Address and zip code of principal executive offices)

(561) 630-6336

(Registrant’s telephone number, including area code)

(Former name, former address and former fiscal
year if changed since last report)

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 81.01. ~~Other~~Entry ~~Events~~into a Material Definitive Agreement.

On ~~March~~July 2027, 2006, byCentraCore ~~letter~~Properties Trust (the “Company”) entered into amendments to the employment ~~chief~~agreements ~~executive~~between ~~officer~~the Company and ~~board~~Charles ofR. ~~directors~~Jones, ofthe ~~The~~Company’s ~~GEO~~Chief Executive ~~Group~~Officer, ~~Inc~~and David J. Obernesser, ~~CentraCore~~the ~~Properties~~Company’s ~~Trust~~Chief ~~(or~~Financial “Officer. The amendments provide that in the event the executive is terminated by the Company without “cause” or if the executive terminates employment for “good reason” (each as defined in the relevant employment agreement), ~~responded~~in either tocase ~~statements~~within ~~made~~one byyear ~~GEO~~of ona change in control of the Company, then the executive shall be ~~March~~entitled to receive (1) 13any unpaid base salary through the effective date of termination, ~~2006~~(2) any unpaid inbonuses ~~its~~for ~~fourth~~any ~~quarter~~year ~~2005~~prior ~~earnings~~to ~~conference~~the ~~call~~year of termination and pro rata bonuses for the year of termination, ~~summarized~~and in(3) within 30 days of the termination, a ~~letter~~lump ~~from~~sum ~~GEO~~ payment equal to (in the ~~Company~~case of Mr. Jones) three times the ~~same~~sum ~~date,~~of ~~regarding~~the ~~GEO~~executive’s ~~stated~~then ~~intention~~current tobase ~~restructure~~salary ~~its~~and ~~relationship~~average cash bonus ~~with~~for the ~~Company.~~three Acalendar ~~copy~~years preceding the date of the ~~Company’s~~change ~~response~~in ~~letter~~control, isor ~~attached~~a ~~hereto~~lump assum ~~Exhibit~~payment equal to (in the case of Mr. 99Obernesser) base salary through April 30, 2009.1 ~~and~~The amendments also byprovide ~~this~~that ~~reference~~in ~~made~~the event of termination associated with a ~~part~~change ~~hereof~~in control, the executive would not be subject to any non-compete provisions and that all equity awards granted to the executive would vest immediately, unless otherwise provided in the relevant equity award agreement.

~~Private~~In ~~Securities~~addition, ~~Litigation~~the ~~Reform~~amendments ~~Act~~are ofintended ~~1995.~~to ~~This~~ensure ~~Current~~compliance ~~Report~~with onInternal ~~Form~~Revenue ~~8-K~~Code ~~contains~~Section ~~forward-looking~~409A ~~statements~~by ~~within~~modifying the ~~meaning~~timing of ~~the~~payment ~~Private~~of ~~Securities~~benefits ~~Litigation~~payable ~~Reform~~following ~~Act~~a termination of employment. ~~1995~~If ~~regarding~~at ~~future~~the ~~events~~time ~~and~~of ~~future~~termination, ~~performance~~the executive is a “specified employee” (within the meaning of Section 409A) and the Company notifies the executive that ~~involve~~the ~~risks~~deferral ~~and~~of the commencement of any ~~uncertainties~~severance ~~that~~benefits ~~could~~is ~~materially~~necessary ~~affect~~in ~~actual~~order ~~results.~~to ~~Forward-looking~~comply ~~statements~~with ~~are~~Section 409A, the Company will defer the ~~typically~~commencement ~~identified~~of the severance benefits by ~~words~~at ~~such~~least six months after the termination and any severance benefits so deferred will earn interest as ~~“believe”,~~of ~~“expect”,~~the ~~“plan”,~~date ~~“intend”~~of ortermination. ~~similar~~Any ~~words~~severance ~~suggesting~~benefits ~~future~~that ~~events~~would orhave ~~expectations.~~been ~~These~~paid ~~forward~~during such six-~~looking~~month ~~statements~~period ~~are~~but ~~made~~for ~~pursuant~~the todeferral under Section ~~the~~409A ~~“safe~~will ~~harbor”~~be ~~provisions~~paid ofin ~~the~~a ~~Private~~lump ~~Securities~~sum ~~Litigation~~to ~~Reform~~the ~~Act~~executive ofsix ~~1995~~months and ~~are qualified~~one inday ~~their~~after ~~entirety~~the bydate ~~cautionary~~of termination. ~~statements~~If ~~below.~~total ~~For~~compensation apayable ~~description~~under ofthe ~~other~~employment ~~factors that~~agreement ~~could~~would cause ~~actual~~the ~~results~~executive to be subject to ~~vary~~the ~~from~~excise ~~current~~tax ~~expectations~~imposed ~~and~~by ~~forward-looking~~Section 4999 ~~statements contained~~of inthe ~~this~~Internal ~~Current~~Revenue ~~Report~~Code, ~~please~~the amendments ~~refer~~further toprovide ~~our~~that ~~Annual~~the ~~Report~~executive onwill ~~Form~~be 10entitled to receive a tax gross-Kup ~~for~~payment such that the ~~year~~amount ~~ended December 31,~~retained ~~2005,~~by asthe ~~filed~~executive, ~~with~~net of the ~~Securities~~excise tax and ~~Exchange~~all ~~Commission~~other taxes on the gross-up payment, will equal the full amount of benefits payable under the employment agreement.

~~Risks~~On ~~relating~~July 27, 2006, the Company entered into an amendment to ~~our~~the ~~Relationship~~Deferred ~~with~~Share Long-Term Loyalty Bonus Agreement between the Company and Charles R. Jones, the Company’s Chief Executive Officer. The ~~GEO~~amendment ~~Group~~provides for immediate vesting and delivery of all shares previously granted under the agreement upon a change in control and the subsequent termination of the agreement upon such delivery of shares to the executive.

The ~~GEO~~amendments ~~Group,~~are ~~Inc.~~attached ~~(or~~as ~~GEO)~~Exhibits ~~is the lessee or sublessee of 11 of the 13 facilities we currently own~~10. ~~Approximately 86% of our revenue~~1, ~~and~~10.2 ~~our ability to make distributions to our shareholders, depends largely upon GEO making rent payments~~ and ~~satisfying its obligations to us~~10. ~~On March 13~~3, ~~2006,~~ ~~during its fourth quarter earnings conference call~~respectively, ~~GEO’s chief executive officer announced GEO’s intent~~ to ~~restructure~~this ~~its~~Current ~~relationship with us, including possible non-renewal of certain~~Report ~~leases~~on ~~expiring~~Form ~~in 2008 and 2010~~8-K.

~~To the extent leases are not renewed by GEO or are renewed or replaced at unfavorable terms, our total revenue and ability to make distributions to our shareholders would be adversely affected~~Item 9. ~~There are a limited number of qualified private correctional and detention facility operators available to replace GEO upon expiration of its lease agreements with us~~01. InFinancial ~~addition,~~Statements our ability to attract replacement lessees for the current GEO facilities is in part dependent on the willingness of relevant governmental entities to contract with a replacement lessee for correctional and ~~detention facility services~~Exhibits. ~~While governmental entities may also lease and~~ operate facilities directly using public employees, it is uncertain that any of the governmental entities that currently contract with GEO to operate our facilities will be able or willing to lease a facility directly from us and to operate it using public employees. Even if suitable replacement lessees are identified, public or private, the rental rate under any replacement leases may be less than the rental rate payable to us under our current leases with GEO.

GEO also stated that it did not anticipate partnering with us on future development projects and that it is seeking to develop competing facilities in close proximity to our existing ones. While we have the option to acquire from GEO, under a right to purchase agreement between us, certain new facilities that GEO acquires through 2013, GEO may assert that one or more newly acquired or developed facilities are not subject to the terms of the agreement or may seek to structure acquisition or development transactions in a manner that permits it to assert that a given facility is not subject to the agreement. GEO also has the right of first refusal on the proposed sale by us of any facilities currently leased to GEO.

In light of GEO’s announcement, our overall relationship with GEO may be at risk. In addition to possible non-renewal of expiring leases, failure by GEO to comply with the material terms of the right to purchase agreement or any lease agreement between us may materially adversely affect our operating results and financial condition. Additionally, the possible need by us, from time to time, to finance, refinance or effect a sale of any of the leased facilities may result in a need to modify or extend the lease agreement applicable to such facility. Any such lease modifications or extensions will require the approval of GEO, and the lack of approval from GEO could adversely affect our ability to consummate such financing or sale.

Item 9.01 Financial Statements and Exhibits.

Exhibit
Number		Description	~~Description~~
	99.1		Letter from CentraCore Properties Trust to The GEO Group, Inc., dated March 20, 2006.
10.1		First Amendment to Employment Agreement dated July 27, 2006 by and between CentraCore Properties Trust and Charles R. Jones
10.2		First Amendment to Employment Agreement dated July 27, 2006 by and between CentraCore Properties Trust and David Obernesser
10.3		First Amendment to Deferred Share Long-Term Loyalty Bonus Agreement dated July 27, 2006 by and between CentraCore Properties Trust and Charles R. Jones

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	CENTRACORE PROPERTIES TRUST
March 20, 2006	By:	/s/ David J. Obernesser
July 31, 2006	By:	/s/ David J. Obernesser
		David J. Obernesser
		Senior Vice President and Chief Financial Officer

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