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

Request for Approval to Enter into Purchase Agreement for Property at Church and Peach

September 9, 2015

Agenda Item B-8

Overview

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

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

Need to Acquire Property

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

Need to Acquire Property

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

Church and Peach Site

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

Purchase Agreement

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

Recommendation

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