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Meeting Date:
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3/28/2023 - 5:00 PM
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Category:
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Adoption of Consent Agenda
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Type:
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Action
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Subject:
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Approval of Contract to Buy and Sell Real Estate (Land) for Hidden Point Dedicated School Site
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End Statements:
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Enclosure
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Attachment #1: Resolution Authorizing Sale of Property (Hidden Point)-v1
Attachment #2: Contract to Buy and Sell Real Estate (Land) for Hidden Point Dedicated School Site
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File Attachment:
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Summary :
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In 2021, the City of Castle Pines approached Douglas County School District (DCSD) to begin discussions regarding Castle Pines acquiring the Hidden Point dedicated school site for parks and open space. On August 6, 2021, the City of Castle Pines submitted a Letter of Intent to DCSD. The Letter of Intent outlined the terms and conditions under which Castle Pines would perform due diligence on the property and proceed toward the negotiation of a purchase and sell agreement. In late 2021, DCSD and the City of Castle Pines each had the site appraised and shared appraisals. The land was valued at $39,272 per acre by DCSD and $48,025 per acre by the City of Castle Pines.
On March 22, 2022 the Board of Education approved a resolution declaring this site surplus. This site has access constraints, topographical challenges with a significant slope, and is located adjacent to overhead electrical distribution lines. This site is also not needed for school purposes within the foreseeable future. This resolution was based on the Long Range Planning Committee’s evaluation of the site and recommendation. The site therefore, may be sold and conveyed in accordance with applicable law, District policy, and Board of Education approval.
On February 13, 2023 DCSD forwarded the Contract to Buy and Sell the Hidden Point dedicated school site to Castle Pines. The average of the appraised values was used to determine the purchase and sell price of $486,225 for the school site.
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Funding:
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Recommendation:
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That the Board of Education approve the Contract to Buy and Sell Real Estate (Land) for Hidden Point Dedicated School Site under adoption of consent agenda.
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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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Erin Kane - Superintendent
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