January 18, 2017 Asset Management Planning

ASSET MANAGEMENT PLANNING

Superintendent Vital - Absent

Trustee Hatton-Hodson - Absent

Presentation by Keith Weaver, Government Financial Strategies

Also Present:

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.

PART ONE

PART TWO

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

at 11:33

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

RE-ZONING

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.