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Meeting Date:
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6/3/2019 - 5:00 PM
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Category:
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Action Items
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Type:
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Action
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Subject:
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6.2 BUSINESS: Consideration of Resolution No. 33:18-19 - Approving the Participation Agreement to Fund the Wickerd Road Sewer Replacement Project
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Strategic Plan:
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Enclosure
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File Attachment:
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Summary:
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On May 20, 2015 the District and Global Investment Pool, LLC (“Developer”) executed a School Facilities Funding and Mitigation Agreement, whereby the Developer, among other requirements, was obligated to deliver initial sewer service for the District’s New High School (Liberty High School). Additionally, the Eastern Municipal Water District (“EMWD”) required from the Developer a funding agreement to plan, design and construct a future 15” gravity sewer main line extension (the “Sewer Replacement Project”) that will service future capacity requirements in the area around the High School and La Ventana development.
Due to a change in circumstances, the School District and Developer intend to enter into that certain Amended and Restated School Facilities Funding and Mitigation Agreement whereby, among other things, the School District agrees to assume the Developer’s responsibility to fund the Sewer Replacement Project, to a maximum cost of $1,593,758, in return for other assurances from the Developer, including the construction of capital improvements to be provided by the Developer for the direct benefit of Liberty High School.
EMWD and the District now wish to enter into the Participation Agreement to Fund the Wickerd Road Sewer Replacement Project to clarify their respective obligations, including the District’s obligation to pay no more than $1,593,758 for EMWD’s planning, design and construction of the Sewer Replacement Project.
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Funding:
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The cost for this item will be included in the 2019-20 operating budget funded through Various Facilities Funds, not the General Fund.
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Recommendation:
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It is recommended that the Board of Trustees adopt Resolution No. 33:18-19 - Approving the Participation Agreement to Fund the Wickerd Road Sewer Replacement Project.
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Approvals:
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Recommended By:
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Signed By:
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Hector Gonzalez - Director of Facilities
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Signed By:
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Candace Reines - Deputy Superintendent
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Signed By:
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Grant Bennett - Superintendent
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Vote Results:
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| Original Motion | | Member Dr. Randall Freeman Moved, Member Dr. Jose Luis Araux seconded to approve the Original motion 'It is recommended that the Board of Trustees adopt Resolution No. 33:18-19 - Approving the Participation Agreement to Fund the Wickerd Road Sewer Replacement Project.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 5 Nay: 0. | | The motion Carried 5 - 0 | | | | | David Nelissen | Yes | | Anthony T. Stafford, Sr. | Yes | | Edward Garcia, Jr. | Yes | | Dr. Jose Luis Araux | Yes | | Dr. Randall Freeman | Yes | |
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