Despite lease or buy contract, trustees to look at alternative sites for district office
WOODLAND JOINT UNIFIED SCHOOL DISTRICT
THURSDAY, MAY 27, 2010
REGULAR BOARD MEETING AGENDA - REVISED
F. INFORMATION
1-B. Financial Status Report 10-13
2-B. Report on Certificates of Participation 10-21
Subject: REPORT ON CERTIFICATES OF PARTICIPATION
Reviewed By: Mark Bonnett, Associate Superintendent, Business Services
Prepared By:Sherri Brown, Administrative Assistant, Business Services
On Agenda As: INFORMATION
Recommendation: This item is presented to allow for discussion and direction from the Board of Trustees.
Background: In May 2008, the Woodland Joint Unified School District entered into a "Lease Agreement With Option To Purchase" with Blue Ice, LLC for the District Office building located at 435 Sixth Street. Information was recently presented to the Budget Advisory Council regarding options to house the District Office. Three alternatives were reviewed: purchasing the District Office; building a modular District Office at Willow Spring and; converting a portion of the warehouse to a District Office (attached). With this information, I looked at financing one of the alternatives. Attached is a DRAFT spreadsheet comparing existing lease payments with a fixed rate Certificate of Participation (COP) and variable rate COP. The fixed rate COP saves $5.5 million and the variable rate COP saves $9.1 million compared with the existing lease.
Jon Armstrong from KNN Public Finance will be available at the meeting to answer any questions from the Board of Trustees.
Posts
12 comments:
Here we go again. Until the 4 idiots that voting for the OVER PRICED BLUE BUILDING AMITS THAT THEY OVER SPENT THERES NO WAY IN HELL WOYULD I VOTE FOR ANOTHER BOND OR PARCELL TAX IN THIS CITY OR COUNTY. I conmend Mr Bonnett on trying to find way on saving the district on any more OUTSTANDING Debts. THey need to paid it off as so as possible. Its a no win mess.
How much money was lost in two years may 08 to may 2010 ,and you still want this's TRUSTEES running the show.were this guys and girls helping BP out to.
We are still waiting for someone to come forward and admit that the commitment to the Blue Shield building was a mistake.
Why dont you turn some of the closed schools into district offices? They are conveniently located throughout town!! Makes no sense to me.....
WIFEY
Electronic LED sign on college st for Douglass how did that get approved? Anyone know if that was approved through the city as well?
Good question. The $125,000 electronic sign in front of the Community Center was allowed after the Planning Commission disallowed LED lights at the Bel Air gas station... "not historic and I just don't want it" said one commissioner.
What would Dudly do?
Declare bankruptcy
Remember only four members (Souza-Cole, Lytle, Beerman, Ruiz-Dark) actually approved this thing and the other fought tooth an nail to prevent it.
Dino, the Blue Shield purchase mess may have been the biggest egotistical and ignorant decision in the history of this town, and that is saying something.
Is it true that in this report it is discussed/shown that there are other less expensive options but there are like $2 million in penalties if they break the lease?
Can you confirm this?
That is true their were many options but with the 2 million in penalties plus they didnt put in that they have to paid a year lease payment incase nobody rents it in a year. That what the fab 4 did to the woodland school district. They are the same 4 that wants you to pay a parcell tax.
Blue Ice, LLC Acquired The J. Yancey Building, Woodland
Woodland, CA – September 6, 2007 – Mark Engstrom, Jim Gray and Nahz Anvary with NAI BT Commercial Sacramento have combined to represent both parties in the sale of a 40,000 square foot office building located at 435 6th St. in Woodland, CA. Engstrom represented the buyer, Blue Ice, LLC, with Gray and Anvary representing the seller. The building was vacant at the time of sale (the former tenant Blue Shield had recently vacated) and sold for an undisclosed price. The well-maintained property is located close to the corner of Main Street and East Street and offers access to I-5 and Highway 113 (connector to I-80). NAI BT was also retained as exclusive leasing agent for the property on behalf of the new owner and is currently listing space ranging from 4,400 square feet to the full 40,000 square feet.
Who is Blue Ice LLC?
People should not trust any WJUSD school administrators, Mark Bonnett, Mike Stevens, Rhonda Deanda-Vannucci & Debra Lovoi are all dishonest. The fab 4 are just as bad. Hopefully the voters remember when WJUSD tries to get a parcel tax past or a school bond, which ever one is decided, vote NO. A yes vote will just free up other funds for these rotten admistrators who are already over paid to get yet another raise.
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