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Board receives update on affordable‑housing site; ground‑lease expected in August if documents returned
Summary
District staff said the preferred developer has done site due diligence and that a ground-lease could come to the board on Aug. 19 if outstanding documents are returned; staff said an interim extension would be sought if delays continue.
The board received a brief update on the district’s affordable‑housing site from staff on July 22.
Staff reported that the preferred developer, Vescor, has engaged engineering firms to complete due diligence, including drilling and underground utility identification. A law firm is preparing final documents that were due at the end of the prior week but had not yet been returned to the district. Staff said they remain optimistic that a ground‑lease would be ready for the board’s Aug. 19 meeting.
If the developer does not return the revised documents in time, staff said they would seek an interim agreement or an extension of the existing timeline with Vescor to preserve progress on the project. No vote was taken. Staff characterized the update as a status report and asked the board to await the revised documents and a draft lease for formal consideration.
Clarifying details: site testing will include six drill holes and mapping of underground utilities; the developer’s law firm is preparing the requested lease and related materials.
