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Sale proceeds from Yukon Avenue deposited into facilities funds; committee asks for transparency on disposition choices
Summary
Staff said proceeds from the 10701 Yukon Avenue sale were deposited into funds 35 and 40 for facilities use and explained the district’s construction funding sources; committee members said they expected lease, not sale, in order to preserve flexibility and asked for documentation and title/easement analysis for related sites.
Rafael Guzman briefed the committee on proceeds from the sale of the Yukon Avenue property and how the district is treating those funds. He said the sale proceeds were deposited into facility funds (fund 35 and fund 40) and described the district’s mix of capital sources: general obligation bond funds (fund 21), deferred maintenance (fund 14), developer fees (fund 25) and miscellaneous state or FAA/LAWA-related deposits.
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