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Meeting Date:
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Category:
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Type:
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Subject:
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12.2 Approval of Second Amendment to the Purchase and Sale Agreement with Melia Homes, Inc. |
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Strategic Goals:
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3. Budget and Finance To be responsible stewards of public funds and maximize the
resources needed to meet our goals, fulfill our priorities, and live up to
our values. 5. Facilities Our facilities will be safe, clean, and well-maintained for learning and
extra-curricular activities with state-of-the-art technology.
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Enclosure:
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File Attachment:
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Rationale:
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In November of 2024 the Azusa Unified School District’s (“District”) Board of Education (“Board”) approved the execution of a purchase and sale agreement (“Agreement”) for the sale of the District’s surplus real property located at 1134 Barranca Ave. in the City of Glendora known as the former Sierra Elementary School site (“Property”), to Melia Homes, Inc. (known as “Melia”).
During its Feasibility Review Period, Melia encountered a number of delays in receiving feedback on its predevelopment application, due to backlogs with staff at the City, and the Board agreed to extend the Feasibility Review Period via the First Amendment approved in January of 2025.
Since the execution of the First Amendment, the District has been made aware of a potential additional development fee to be levied by the City, which would impact the feasibility of the transaction. The District, with the assistance of its broker and legal counsel, has negotiated the Second Amendment to the Agreement to further extend the Feasibility Review Period in order to seek clarification regarding the nature and impact of this potential fee.
The Second Amendment to the Purchase and Sale Agreement will amend the following terms of the Agreement:
1. The termination date of the Feasibility Review Period, as set forth in Section 2.2 of the Agreement, will be extended from February 27, 2025 to April 11, 2025.
2. The Agreement will be reinstated by both parties after having terminated by its own terms before a regular Board meeting could be convened. |
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Budgetary Impact:
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Recommendation
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It is recommended the Board of Education approve Second Amendment to the Purchase and Sale Agreement with Melia Homes, Inc. |
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Approvals:
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Recommended By: |
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Signed By: |
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Hope Near - Board Secretary |
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Signed By: |
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Arturo Ortega - Superintendent |
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Vote Results:
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| Original Motion | | Member Adrian Greer Moved, Member Yolanda Rodriguez-Peña seconded to approve the Original motion 'It is recommended the Board of Education approve Second Amendment to the Purchase and Sale Agreement with Melia Homes, Inc.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 4 Nay: 0. | | The motion Carried 4 - 0 | | | | | Yolanda Rodriguez-Peña | Yes | | Adrian Greer | Yes | | Sandra Benavides | Yes | | Carlos Ramos | Yes | |
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