Western Placer Unified School District Agenda Packet May 2025
District, developer structure TK‑8 school and park deal
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Description
Western Placer Unified School District is entering a School Facilities Agreement with Lincoln Land Holdings, LLC to secure a 16.6‑acre TK‑8 school site, an 8.5‑acre regional park, and related infrastructure in Village 7, financed through developer fees, a developer contribution linked to a $6 million park credit, CFD bonds, and other public funding sources. Lewis will sell the school site at appraised residential value in construction-ready condition, build the park, and pay statutory school impact fees for all residential, commercial, and active adult units in the project.
Contract Details
Contract Amount
Approximately $108,150,000 total School Facilities cost (2025 dollars); Park Credit estimated at $6,000,000; Construction Ready Costs estimated at $1,800,000; Park/School Site Development Costs estimated at $2,800,000; School Site to be purchased at appraised fair‑market value plus documented site development costs, with payment via Special Note
Vendor
LINCOLN LAND HOLDINGS LLC
Agency
City of Lincoln, CA
Contract Type
FACILITIES
Document Date
May 13, 2025
Contract Term
Effective date in 2025; CFD special taxes up to 45 years; Bonds up to 30‑year maturities with refundings; Special Note payable upon satisfaction of specified triggers, but no later than 7 years after DSA close‑out; School Site reservation and obligations run with land until conditions satisfied
Renewal Info
This is a long‑term development and facilities agreement that runs with the land for the Current Lewis Property and any Annexed Property; it automatically terminates on individual residential units once construction is complete and the unit is sold, but otherwise remains in effect until School Facilities and financing obligations are satisfied. Amendments require written agreement of the parties.
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