Surplus Property

​Ellington—Ellington is our first property to have passed the due diligence period. This is a critical juncture; until the due diligence period ends, the developer can back out of the deal with no penalties. Once we have passed due diligence, the developer's deposits become non-refundable if the deal falls apart. Two deposits have already been made that equal $700,000.

Mountain View—The agreement with Trumark Homes fell through prior to the end of due diligence, which means Trumark did not have any penalties for ending the deal. Since then, the Board of Education has approved an agreement with Taylor Morrison, the developer of the Powell property. The board hopes the process will move quickly due to positive relationships with the City of Azusa, the District, and the developer. Escrow has opened up for this new agreement. 

Powell Elementary—Taylor Morrison, the developer of Powell, attended a recent City Council meeting. Azusa staff and the developer answered questions and provided updates. The City Council approved the project to continue. The due diligence period ends this month. The Board of Education also approved an amendment to the agreement that allows Taylor Morrison to demo Powell prior to escrow closing. This is done at their own liability and expense. 

Adult Education/Sierra—The Board of Education has granted an extension to the due diligence period until April 11. The process has been slowed due to circumstances that are out of the control of the District and developer. We are working with the city of Glendora to move the project along.