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FINANCIAL_SERVICESDISCUSSSED

Pasadena Unified School District Resolution 2895 2026-06-25

Western Alliance Bank Listed as Potential Project Financer

Pasadena UnifiedWESTERN ALLIANCE BANKJune 25, 2026

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Description

Western Alliance Bank is mentioned as a financing partner that could support Woodbridge Pacific Group’s Linda Vista project with construction or acquisition loans. The bank’s role would be limited to financing the developer’s obligations under the ground lease.

Contract Details

Vendor

WESTERN ALLIANCE BANK

Agency

Pasadena Unified, CA

Contract Type

FINANCIAL_SERVICES

Document Date

June 25, 2026

Renewal Info

No direct contract with Pasadena USD is documented; renewal not applicable.

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Issuing Agency

Pasadena Unified

School

Pasadena, CA

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Vendor

WESTERN ALLIANCE BANK

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More from Pasadena Unified

Pasadena Unified School District Resolution 2895 2026-06-25

Estimated to generate approximately $285,806,869 over the anticipated 99-year lease term, including an initial annual ground lease payment of $575,000 and proposed upfront payments totaling $1,000,000June 25, 2026

Pasadena Unified School District Resolution 2895 2026-06-25

$25,000 initial nonrefundable cashier’s check; $200,000 Good Faith Deposit; $100,000 for each of up to two 3‑month entitlement extensions; Annual Lease Rent of $400,000 with 10% increases every five yearsJune 25, 2026

Pasadena Unified School District Resolution 2895 2026-06-25

Annual ground lease payment of $375,000 with 2.5% annual increases; Initial Deposit of $1,000,000; four potential Permitting Period extensions at $100,000 eachJune 25, 2026

Pasadena Unified School District Resolution 2895 2026-06-25

Initial deposit of $500,000 upon execution of agreement; additional $500,000 upon completion of due diligence (total deposit $1,000,000); annual ground lease payment of $450,000June 25, 2026

Pasadena Unified School District Resolution 2895 2026-06-25

$6,000,000 one-time lump sum Lease Payment for a 99-year ground lease; initial $60,000 deposit at escrow opening plus an additional $60,000 after feasibility (total $120,000); optional $60,000 extension depositJune 25, 2026

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