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RiverLights site, Isaac Bear plans drawn into bond discussion; conveyance and funding questions remain
Summary
Board members asked staff for written conveyance documents for the RiverLights elementary site and discussed removing Isaac Bear from the bond package while an ad hoc committee seeks alternative funding and partnership arrangements.
Board members and staff discussed two discrete issues that affect the committee's bond list: the legal and documentary status of the RiverLights elementary site and the funding status of Isaac Bear Early College High School.
On RiverLights, staff told the board the parcel for a proposed RiverLights elementary school has been the subject of prior resolutions and that county and school officials previously worked toward a conveyance. Staff said they are reengaging the RiverLights developer and its attorney and expect to bring an updated conveyance agreement or documentation to the board; staff emphasized that while the parcel is intended for a school, the board wants a written conveyance to protect the district before committing bond dollars to a build on that site.
On Isaac Bear, speakers reported the finance committee removed Isaac Bear from the recommended bond package and formed (or tasked) an ad hoc committee to identify alternative funding. Board members said Isaac Bear is a high-value program but the land, ownership and partnership structure (including involvement by UNC Wilmington and other partners) complicate placing building costs on a district bond because the district would not necessarily own the land or building outright. Staff and board members said the ad hoc group is pursuing other funding avenues and coordination with UNCW and other stakeholders rather than including Isaac Bear as a standard bond project.
Board members asked staff to locate the 2017 resolution and any conveyance documents and to provide them in writing to board counsel. Staff said they had scheduled follow-up conversations with the RiverLights representative and the developer's attorney and that they would provide the documents to the board when obtained. On Isaac Bear, staff described the program as important and said an ad hoc committee is pursuing a funding strategy; the work session did not produce a new funding commitment or board vote on Isaac Bear during the meeting.
