Fall 2014 Downtown Digest - Downtown Albany Business Improvement District
Downtown Project Community Meeting 8/16/06 1 Oakland Unified School District Downtown Project REDUCE...
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Transcript of Downtown Project Community Meeting 8/16/06 1 Oakland Unified School District Downtown Project REDUCE...
![Page 1: Downtown Project Community Meeting 8/16/06 1 Oakland Unified School District Downtown Project REDUCE DISTRICT DEBT, FREE UP RESOURCES FOR ACADEMIC PROGRAMS.](https://reader035.fdocuments.net/reader035/viewer/2022070308/551bd049550346b9588b542e/html5/thumbnails/1.jpg)
Downtown Project Community Meeting 8/16/06
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Oakland Unified School District
Downtown Project
REDUCE DISTRICT DEBT, FREE UP RESOURCES FOR ACADEMIC PROGRAMS
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Presentation Outline • Overview of the Downtown Project
– What are the Community Directives?– What are the Key Project Objectives?
• School Locations:– La Escuelita will be rebuilt on the Downtown
Property– MetWest will be rebuilt on the Downtown Property– Dewey to relocate to a District site– Child Development Centers to remain on site or at
Laney College
• Economic Benefits – Free Up Resources for Education
• City Approval Process
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PUBLIC COMMENTCOMMUNITY DIRECTIVES
No school closed.
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REBUILD LA ESCUELITA ON DOWNTOWN SITE
• La Escuelita will be built as a new and expanded facility.
• Measure A funds have been reserved.
• District will lease land on project site for $1 per year.
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PERMANENT HOME FOR METWEST DOWNTOWN
• A new permanent campus for MetWest will be built on the project site or co-located with Laney College.
• District will lease land on project site for $1
per year.
• Measure A funds reserved for La Escuelita can support construction of MetWest.
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OTHER SCHOOL FACILITIES
Dewey High School will relocate.
Child Development Centers will be relocated on the Downtown site or co-located with Laney College Early Childhood Education Program.
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AERIAL VIEW OF DOWNTOWN PROPERTY
Centro Infantil
Dewey
Administration
MetWest
YukYau
La Escuelita
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PROPOSED DEVELOPMENT ON DOWNTOWN SITE REVISED TO INCLUDE LA ESCUELITA AND METWEST
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WHEN WILL THE SCHOOLS BE BUILT?
• The schools will be built as part of the first phase of construction of the new development.
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COMMUNITY BENEFITS
• Affordable Housing• Teacher Preference for Affordable Housing• Good Jobs for Oakland Residents• Social Justice Program• Environmentally Respectful/Energy
Efficient Development• Long Term Income Stream for School
Facilities
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THE DOWNTOWN PROJECT WILL FOLLOW THE CITY OF
OAKLAND’S COMMUNITY APPROVAL PROCESS
• The developer is required to complete the City
Council’s public entitlement approval process.
• If less than 1000 units are entitled by the City, there will be no property sale, according to
the terms set forth in the Letter of Intent.
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ESTIMATED NET INCOME FROM PROPOSED SALE
• Option 1 - Purchase new administrative complex and relocate Dewey –$13,175,000
• Option 2 – Lease new administrative complex and relocate Dewey - $9,975,000 + ongoing lease cost. *
• Option 3 – Relocate administrative complex to inactive school site with short term lease - $25,215,000 *
• Net sale income $35 Million to $50 Million • Plus $10 Million income stream over long term.
* Lease of space requires ongoing expense