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Meeting Date:
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6/17/2020 - 3:00 PM
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Category:
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Consent Calendar
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Type:
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Action
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Subject:
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11.31 BUSINESS: Ratification of Letter of Clarification for the Existing Mitigation Agreement Between Perris Union High School District and the La Ventana/Braverde Development Project (no fiscal impact)
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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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The 170-acre parcel directly adjacent to and west of Liberty High School is being developed by the Global Investment Pool, LLC ("Developer") for the ultimate construction of 511 homes (originally referred to as “La Ventana” but recently renamed “Braverde”). PUHSD and the Developer originally executed a Mitigation Agreement on May 27, 2015 that outlined the terms by which Developer would meet its school fee obligations. The parties then mutually agreed to an Amended and Restated Mitigation Agreement ("A&R Mitigation Agreement") on July 1, 2019, where, in part, PUHSD assumed the obligation to fund a contribution to the Eastern Municipal Water District (EMWD) for construction of the Wickerd Road Sewer Replacement Project ("Sewer Project").
The La Ventana/Braverde development project is currently under construction, and includes a sewer lift station (and related facilities) that will provide sewer service to Liberty High School and accommodate the projected opening of the school in August 2021. The Developer is currently working with EMWD for the possible issuance of bonds through the Community Facilities District that was formed by EMWD in 2017 (CFD 2017-77). The Developer has requested PUHSD execute the attached Letter of Clarification to ensure a mutual understanding that all future proceeds from the sale of bonds by EMWD through CFD 2017-77 will accrue to the Developer and not be used to reimburse the District funds provided for construction of the Sewer Project. Staff has worked closely with its legal counsel (Fagen Friedman & Fulfrost LLP) to review, assess and execute this Letter of Clarification and seeks to minimize any potential construction delays to the La Ventana/Braverde project. District staff understands and agrees with the interpretation within the Letter of Clarification and believes the letter helps to clarify the respective rights and responsibilities of both parties.
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Funding:
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No fiscal impact.
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Recommendation:
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It is recommended that the Board of Trustees ratify the Letter of Clarification for the existing Mitigation Agreement between Perris Union High School District and the La Ventana/Braverde Development Project.
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Approvals:
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Recommended By:
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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 Edward Garcia, Jr. Moved, Member David Nelissen seconded to approve the Original motion 'It is recommended that the Board of Trustees ratify the Letter of Clarification for the existing Mitigation Agreement between Perris Union High School District and the La Ventana/Braverde Development Project.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 5 Nay: 0. | | The motion Carried 5 - 0 | | | | | Dr. Jose Luis Araux | Yes | | David Nelissen | Yes | | Anthony T. Stafford, Sr. | Yes | | Edward Garcia, Jr. | Yes | | Dr. Randall Freeman | Yes | |
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