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Board approves MOU with RiverPark Pointe on CFD prepayment and supplemental funding
Summary
The board unanimously approved an MOU with RiverPark Pointe, LLC for prepayment of CFD No.1 and a supplemental school facilities funding payment tied to ~280 residential apartments within the RiverPark Specific Plan.
The Rio School District board unanimously approved a memorandum of understanding with RiverPark Pointe, LLC to accept prepayment of Community Facilities District (CFD) No.1 funds and a supplemental school facilities payment tied to about 280 residential apartment units in the RiverPark Specific Plan. Trustee Kristine Anderson moved the measure and Trustee Felix Eisenhauer seconded; the motion carried with all trustees voting yes.
The MOU frames a supplemental funding payment intended to support district facility needs associated with the new housing; the minutes identify the project as Lot 6 of Final Tract Map 5352 but do not provide a detailed dollar amount in the public record. The board’s approval will allow district staff to proceed with the agreed prepayment and supplemental funding arrangements.
