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School board reviews nonbinding term sheet to convey Jericho Road site for park use; lays out reversion rights and demolition responsibilities
Summary
Staff presented a negotiated nonbinding term sheet with the city to convey school property on Jericho Road for public-park use with deed restrictions, a long reversion notice and cure process, and school-board-funded demolition and subdivision work; the term sheet will proceed to a memorandum of agreement and city council review.
School board counsel summarized a nonbinding term sheet the division has negotiated with city staff and the city attorney’s office for conveyance of property on Jericho Road. The term sheet sets use restrictions intended to preserve the land for public park or open‑space use, requires demolition and some subdivision work to be paid by the school division, and establishes a reversion remedy if the city changes use in violation of the deed restrictions.
Camille Linetti explained that the term sheet is not a final legal conveyance but will serve as the basis for a memorandum of agreement; both parties must still complete required studies and approvals. She described the reversion process: notice/inspection steps and a cure period (described in the presentation as roughly a 120‑day cure period followed by up to 60 days to close on reversion if the city does not cure), and said the school board would have a long window to detect inconsistent uses (staff phrased it as a 10‑year window to recall the restriction in certain circumstances). Linetti also outlined that some demolition, remediation (including addressing underground storage tanks) and subdivision mapping would be the school board’s responsibility and that staff will return with MOA details and cost tracking for reversion funds.
