|ASSET MANAGEMENT PLANNING
Superintendent Vital - Absent
Trustee Hatton-Hodson - Absent
Presentation by Keith Weaver, Government Financial Strategies
CUSD Real Estate Consultant George Peterson and Craig Hoffman, Project Dimensions
CUSD Legal Counsel Andreas Chialtas, Atkinson, Andelson, Loya, Rudd & Romo
Explore option for generating on-going or one-time funding for the District.
The slide presentation is at: http://capousd-ca.schoolloop.com/file/1218998819331/1455438848279/2361404903687602903.pdf page 56 of 95
CUSD has stopped audio recording Board Workshops.
PACIFICA SAN JUAN
at 2:10 PACIFICA SAN JUAN
CFD 98-1A and !B 750 acres. Mitigation from developer was an option to purchase this land at a price of $6 million dollars. This agreement expires June 30, 2019.
Options are to:
1) Build a school
Staff recommends that CUSD does not build a school because there are not enough kids or enough money. Pacifica San Juan children will attend:
Elementary- Ambuehl and Palisades
Middle School - Marco Forster and Shorecliffs
High School - San Juan Hills
2) Assign Rights under PSA - Not taking title - selling the right to buy the parcel to a 3rd party.
Two Options: Sell the property as is or Re-zone the property from school site to residential
Costs money up-front and take 2 years. We could bring in a Developer who would reimburse us for the re-zoning costs. Rezoning to Residential will increase the value of the property.
PURCHASE AND SELL
Lots of Legal Requirements
PURCHASE AND LEASE LAND FOR UP TO 99 YEARS
PURCHASE AND LEASE LAND FOR JOINT OCCUPANCY FOR UP TO 66 YEARS
Example: San Diego project "Scripps Mesa Joint Occupancy Project"
at 17:19 Discussion re: City of San Juan has designated this land use for low income housing
PART TWO VIDEO
at 22:00 San Diego's Scripts Mesa Joint Occupancy Project i
Benefits are an on-going revenue stream.
Affordable Housing for District Staff.
Recommendation: To assign the rights to a 3rd party developer.
at 25:00 Trustee Reardon suggests working with the City of San Juan to exchange this property for a more suitable property in San Juan.
We have $13 million. The cost to but the land is $6 million.
DANA POINT SOUTH BUS YARD
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LAGUNA NIGUEL SITE
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