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Meeting Date:
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2/11/2025 - 5:30 PM
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Category:
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General Functions
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Type:
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Action
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Subject:
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13.2 Approval of First Amendment to the Purchase and Sale Agreement with Taylor Morrison of California, LLC
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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 1035 East Mauna Loa Avenue, City of Azusa, known as the former Powell Elementary School site (“Property”), to Taylor Morrison of California, LLC (known as “Taylor Morrison”).
During its Feasibility Review Period, Taylor Morrison encountered a number of delays in receiving feedback on its predevelopment application, due to backlogs with staff at the City and a scheduled review meeting. The District’s broker has investigated to confirm that this request is justified.
As such, Taylor Morrison seeks an amendment of the Agreement extending the Feasibility Review Period, to account for these unexpected delays. The District, with the assistance of its broker and legal counsel, negotiated an amendment to the Agreement to account for this extension.
The First 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 19, 2025 to March 31, 2025.
2. A second, one time, automatic 30 day extension of the Feasibility Review Period is permitted if the City’s upcoming meeting is delayed further.
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Budgetary Impact:
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Recommendation:
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It is recommended the Board of Education approve First Amendment to the Purchase and Sale Agreement with Taylor Morrison of California, LLC.
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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 Yolanda Rodriguez-Peña Moved, Member Carlos Ramos seconded to approve the Original motion 'It is recommended the Board of Education approve First Amendment to the Purchase and Sale Agreement with Taylor Morrison of California, LLC.'. 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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