Request for Approval to Enter into Purchase Agreement for Property - PowerPoint PPT Presentation

Agenda Item B-8 Request for Approval to Enter into Purchase Agreement for Property at Church and Peach September 9, 2015

Overview 2  31.92 acre parcel at Church and Peach Avenues  Future school facility based on needs/priorities  Adjacent to 17.7 acres the district already owns  Recommended cost: $3.4 million  Recommended source of funds: Measure Q  Also evaluating potential purchase of remaining two parcels along Church (1.95 acres) Pro po se d Purc hase o f Churc h and Pe ac h Pro pe rty 9/ 09/ 2015

Pro po se d Purc hase o f Churc h and Pe ac h Pro pe rty 9/ 09/ 2015

Pro po se d Purc hase o f Churc h and Pe ac h Pro pe rty 9/ 09/ 2015

Need to Acquire Property 5  Board ‐ approved Facilities Master Plan identified need for future high school capacity in district’s south region  Sunnyside High School enrollment is projected to continually increase and eventually exceed capacity Pro po se d Purc hase o f Churc h and Pe ac h Pro pe rty 9/ 09/ 2015

Need to Acquire Property 6  Elementary enrollment in the area is also impacted  Ayer and Storey are growing and projected to be at or above capacity during the next ten years  Both campuses have high number of portables  Boundary changes difficult for schools at edge of district Enrollment Capacity Portables Ayer Elementary 720 702 12 (34%) Storey Elementary 971 1,078 26 (54%) Pro po se d Purc hase o f Churc h and Pe ac h Pro pe rty 9/ 09/ 2015

Church and Peach Site 7  2009 Site Selection Study evaluated seven sites and identified Church and Peach property as best option for a school site • Evaluation considered California Department of Education guidelines and desire for approximate 50 acre site  Site received preliminary Department of Education approval  Potential 52 acre site for future school facility opportunities  Building on vacant property is significantly less costly than building on developed property  Anticipated future improvements typical for other sites  One willing owner Pro po se d Purc hase o f Churc h and Pe ac h Pro pe rty 9/ 09/ 2015

Purchase Agreement 8  Approval would trigger opening of escrow ($10 deposit) Price fixed for one year while the district completes due diligence • Purchase price payable at close of escrow •  Sale contingent on meeting all requirements of California Department of Education and California Environmental Quality Act  Costs of surveying, testing and investigations approximately $200,000  After completion of due diligence work, a Board public hearing will be scheduled to make required Department of Education findings Anticipated in spring 2016 • If findings can be made: escrow closes and district buys property •  If findings cannot be made: no obligation to purchase and no monetary penalties Pro po se d Purc hase o f Churc h and Pe ac h Pro pe rty 9/ 09/ 2015

Recommendation 9 Adopt Resolution 15 ‐ 12, Approving a Purchase and Sale Agreement Between the District and Bedrock Land Development, Inc. Pertaining to a 31.92 Acres Parcel of Land Located near the Intersection of East Church and South Peach Avenues in Southeast Fresno and Also Approving Related Matters Pro po se d Purc hase o f Churc h and Pe ac h Pro pe rty 9/ 09/ 2015