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Board directs staff to pursue public-sale options if Fairfield does not advance Goldridge deal by May 30
Summary
After staff detailed recurring site fees on a 10-acre Goldridge parcel purchased in 2007, board members asked staff to work with Fairfield on a developer proposal and, if the city does not act by May 30, prepare steps to list the parcel publicly to stop ongoing penalties and reduce CFD burdens.
Staff briefed the board on the Goldridge site in CFD2, a roughly 10-acre parcel the district purchased in 2007 for an overall listed price of $6.5 million (district cash outlay $4 million plus $2.5 million recorded as a developer charitable contribution). The state charges an unused school-site fee that had been >$65,000 annually until a 2022 appraisal reduced the fee to the mid-$30,000 range.
Board members described prior efforts with a Fairfield developer who proposed credits and parkland-oriented uses; that proposal previously stalled. Several members urged staff to pursue the developer’s offer and seek Fairfield City Council support. The board set a May 30 deadline for the city to act: if Fairfield does not move forward by then staff were directed to prepare public-market sale steps so the district can remove an ongoing liability and apply sale proceeds toward CFD paydown.
Board members discussed legal constraints: staff said the district cannot legally “discriminate” among bidders if it places the property on the public market, although the board can set price expectations and hold out for offers. Members asked staff to return with options for sale to public agencies or public listing procedures and to confirm any legal limits on buyer selection.
Why it matters: the parcel has been a recurring drain on district finances; selling it (or completing a public-agency transfer) could accelerate CFD payoff for affected neighborhoods and reduce annual fees charged to the district.
Next steps: staff to monitor Fairfield’s actions and report back; if no progress by May 30 staff will prepare steps for a public sale and provide legal guidance on bidder restrictions and proceeds earmarking.
