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Meeting Date:
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9/28/2021 - 5:00 PM
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Category:
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Study/Action Items
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Type:
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Action
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Subject:
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Approval of Real Estate Purchase Agreement for the Sale of Westridge Glen Parcel Generally Located at the Southwest Corner of Bitterroot Place and Ironwood Street and Consisting of Approximately 10.7 Acres, Said Property to be Sold Subject to a Restrictive Covenant and Deed Restriction that Restricts the Property from being used as a Public or Nonpublic School for Any Grade from Preschool Through Twelfth Grade
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End Statements:
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Enclosure
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Attachment #1: DCSD Westridge PSA - DRS Executed - 092221
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File Attachment:
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Summary :
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On October 22, 2019, the Board of Education approved a resolution regarding the use of dedicated school sites. This resolution acknowledged that the Douglas County Board of County Commissioners had asked that the Board of Education consider the disposal of dedicated school sites if they were no longer needed in the foreseeable future for District use. The resolution also recognized that the Long Range Planning Committee designated four school sites as Surplus Sites, and included the provision that Surplus Sites not needed in the foreseeable future may be sold in accordance with applicable law and District policy. The Westridge Glen Parcel, generally located at the southwest corner of Bitterroot Place and Ironwood Street and consisting of approximately 10.7 acres, was one of the school sites designated as surplus property and no longer needed for future school facilities.
On June 9, 2020, the Board of Education approved a resolution to waive bid requirements for the sale of dedicated school sites in order to dispose of Surplus Sites in an expeditious manner while maximizing their value.
On November 10, 2020, the Board of Education approved an Exclusive Right-To-Sell Listing Contract with CBRE, Inc., a commercial real estate firm, to represent the District related to the marketing and sale of the Westridge Glen Parcel and since that time CBRE has marketed the Westridge Glen Parcel of real property.
On August 24, 2021, DCSD’s Board of Education approved a Letter of Intent from United Development Companies to purchase two sites, the Westridge Glen and Pinery Parcels, for $7.5 million. Since that date, CBRE facilitated the completion of the proposed Real Estate Purchase Agreement with United Development Companies.
As authorized by Colorado law at C.R.S. 22-32-110(1)(e), the proposed Real Estate Purchase Agreement identifies that the Westridge Glen Parcel will be sold and conveyed subject to a restrictive covenant and deed restriction restricting the use of the property for a public or private school for any grade from preschool through twelfth grade.
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Funding:
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Recommendation:
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That the Board of Education approve the Real Estate Purchase Agreement for DCSD’s sale of the Westridge Glen Parcel generally located at the southwest corner of Bitterroot Place and Ironwood Street and consisting of approximately 10.7 acres, said Parcel to be sold subject to a restrictive covenant and deed restriction restricting use of the property for a public or private school for any grade from preschool through twelfth grade.
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Approvals:
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Recommended By:
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Signed By:
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Richard Cosgrove - Chief Operations Officer
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Signed By:
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Mary Kay Klimesh - General Counsel
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Signed By:
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Corey Wise - Superintendent
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Vote Results:
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| Original Motion | | Member Krista Holtzmann Moved, Member Anthony Graziano seconded to approve the Original motion 'That the Board of Education approve the Real Estate Purchase Agreement for DCSD’s sale of the Westridge Glen Parcel generally located at the southwest corner of Bitterroot Place and Ironwood Street and consisting of approximately 10.7 acres, said Parcel to be sold subject to a restrictive covenant and deed restriction restricting use of the property for a public or private school for any grade from preschool through twelfth grade.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 7 Nay: 0. | | The motion Carried 7 - 0 | | | | | Ray D | Yes | | Christina Ciancio-Schor | Yes | | Anthony Graziano | Yes | | Krista Holtzmann | Yes | | Kevin Leung | Yes | | Susan Meek | Yes | | Elizabeth Hanson | Yes | |
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