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Azusa Unified board approves amendment and sale resolution for former elementary sites; buyer TrueMark withdraws from prior agreement
Summary
The Azusa Unified School District Board approved a first amendment extending due diligence for Taylor Morrison and authorized staff to proceed with the sale of the former Mountain View Elementary School after TrueMark ended its purchase agreement.
The Azusa Unified School District Board of Education on Feb. 11 approved an amendment extending Taylor Morrison’s due-diligence period on one former district site and adopted a resolution authorizing sale of the former Mountain View Elementary School after a previous buyer, TrueMark, withdrew.
Superintendent Arturo Ortega told the board that Taylor Morrison, the buyer for the former Powell Elementary School site, requested additional time to complete due diligence because of unexpected delays; a first amendment to its purchase-and-sale agreement was brought to the board for consideration. Ortega also reported that TrueMark submitted notice ending its agreement to purchase the former Mountain View site; the board voted on a new sale authorization that night.
The board considered and…
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