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Meeting Date:
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11/17/2022 - 7:00 PM
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Category:
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Information and Study Items
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Type:
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Action
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Subject:
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Property Redevelopment: Exchange Agreement and Joint Escrow Instructions with Santa Clara County Firefighters for the Firehouse Property
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District Priorities:
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Enclosure
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File Attachment:
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Summary:
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The District previously explored options for the use or disposition of its approximately .55 gross acres of improved land together with an existing building of approximately 3,774 square feet which is identified as all of Santa Clara County Assessor Parcel No. 414-06-034, located at 720 Curtner Avenue in San Jose, commonly known as the Firehouse Property.
On June 2, 2022, the Board of Trustees adopted a Resolution of Intent to Exchange Real Interests in Real Property (“Resolution No. 21-22-08“) for the Firehouse Property, by a two-thirds vote. On June 16, of 2022, the Board entered into a contract with Engstrom Properties, Inc. with the intention for the District to exchange the Firehouse Property for income producing real property owned by Engstrom (“Engstrom Exchange Agreement”). Following the property exchange, Engstrom intended to develop a Starbucks Store on the site. However, during the due diligence period set forth in the Engstrom Exchange Agreement, Engstrom learned that the City of San Jose (“City”) changed the zoning designation for the Firehouse Property and the new designation did not allow for drive-throughs which impeded Engstrom’s ability to obtain City approval for the Starbucks Store. On September 2, 2022, the District and Engstrom executed a Notice of Termination of the Engstrom Exchange Agreement.
Now, the District and Santa Clara County Firefighters (“Firefighters”), a fully authorized, non-profit labor organization 501 (c)(5) wish to enter into an agreement with the intention for the District to exchange the Firehouse Property for income producing real property owned by Firefighters (“Firefighters Exchange Agreement”). The Firefighters Exchange Agreement is authorized pursuant to sections 17536 and 17537 of the Education Code and District staff now seek formal approval of the Firefighters Exchange Agreement.
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Funding:
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Recommendation:
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Staff recommends the Governing Board to approve the Firefighters Exchange Agreement for Real Property, as it is in the best interests of the District.
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Approvals:
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Recommended By:
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Signed By:
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Carlena Grandey - Administrative Assistant to the Superintendent
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Signed By:
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Kristi Schwiebert - Superintendent
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