For City Council Meeting [April 24, 2018]
TO: Honorable Mayor and City Council
APPROVAL: Robb Steel, Interim City Administrator
Title
Request City Council to Approve Amended and Restated Agreement to Transfer Funds between the City of Rialto and the Rialto Unified School District allowing RUSD to Receive Sales Proceeds from the Area A Contract of Sale and authorizing staff to release a check for $376,000 to the Rialto Unified School District.
(ACTION)
Body
BACKGROUND:
On August 22, 2017, the City Council approved two Compensation Agreements allowing the City to acquire, at no cost, certain Rialto Successor Agency parcels for the proposed Fire Station 205 site and a park site in the Renaissance Specific Plan. A third Compensation Agreement authorized the disposition of the Area A site as defined in the Area A Contract of Sale with Lewis Hillwood Rialto Company LLC ("Area A Contract").
Pursuant to the Redevelopment Dissolution Act, the City negotiated Compensation Agreements with the following taxing entities for Area A, Fire Station 205, and park sites: 1) County of San Bernardino; 2) County Superintendent of Schools; 3) San Bernardino Community College District; 4) Rialto Unified School District; 5) Inland Empire Joint Resource Conservation District; 6) Chaffey Community College District; 7) Fontana Unified School District; 8) West Valley Water District; 9) San Bernardino Valley Municipal Water District; 10) Inland Empire Utilities Agency; and, 11) the Colton Unified School District for the Fire Station and Park compensation agreements. In December 2017, the above entities approved the Compensation Agreements.
ANALYSIS/DISCUSSION:
On March 13, 2017, the City transferred a portion of the Area A parcels to LHR pursuant to the Area A Contract. The purchase price for the first LHR transfer under the Area A Contract was $1,251,827.56 - the escrow agent held the proceeds pending execution of a compensation agreement with the affected taxing entities ("Area ...
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