Livermore Valley Joint Unified School District
Situation:
LVJUSD is one of larger school districts in the tri-valley area. As population trends have shifted over the last 20 years, the district has found itself with a handful of properties that are no longer operating as schools. Like many other districts, they are faced with financial and organizational challenges involving the best way to provide superior public education to the community. The underutilized real estate assets that LVJUSD owns represent a valuable component to be considered in their overall organizational mission.
Task:
Livermore Valley Joint Unified School District engaged Alan Cerro to look strategically at these real property assets in light of current demographic trends and the organizational objectives of the district. The City of Livermore and the community also have important perspectives and goals as it relates to these larger tracts of land.
These properties were originally acquired and developed with hard earned taxpayer dollars which requires that the highest level of diligence and fiduciary responsibility be exercised. This is where Cerro Vista thrives! As a trusted community partner, Mr. Cerro approached the assignment with complete objectivity yet was able to bring the necessary knowledge and experience to the table to insure that all stakeholders were well served.
Action:
Cerro Vista conducted a comprehensive assessment of five (5) former school sites and the property upon which the district offices are located. For each of the subject sites we prepared a Summary Land Use Analysis which took into consideration all contextual influences surrounding the properties. This process involves an in depth study of the current zoning, land uses and residential densities surrounding the subject properties. Site constraints such as easements or other impediments to expansion are also identified. Based on the cumulative findings, Cerro Vista provided detailed information and recommendations for the residential development potential (and associated value ranges) for each of the subject properties.
We also arranged and led meetings with the City and the community to gain input and fully understand their perspective. Once the district identified the properties they wanted to pursue for development and/or sale; CV assisted in navigating the complex state-mandated process of “surplusing” the subject properties. This involved adherence to specific noticing protocol, multiple meetings with the LVJUSD Board to insure their understanding and responsibilities and the crafting of necessary legal/contractual documents. Lastly, we created the associated Request for Proposal (RFP) for release to a targeted group of residential developer/builders.
Result:
Based on the release of an RFP for the sale and development of the previous Sonoma School site, eight (8) offers were received. Cerro Vista provided the LVJUSD leadership and Board with a detailed assessment and ranking of the offers. The field was then narrowed down to the top two (2) who were both interviewed by the District and Cerro Vista. William Lyon Homes was chosen to purchase and embark on the development of 54 single-family residential homes.
The Purchase and Sale Agreement in these types of transactions is predicated upon the buyer (William Lyon) obtaining the necessary entitlements and approvals for the 54 unit concept plan. Cerro Vista continued to work as the liaison between LVJUSD and William Lyon until they worked through their approvals and ultimately gained approval for their project and closed on the sale of the school district property.
Cerro Vista has established itself as a trusted resource for Livermore Valley Joint Unified School District and continues to work on their behalf to explore additional organizational objectives that could be accomplished through the highest and best use of their real property holdings.
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