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

Downtown Project Community Meeting 8/16/06

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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

Downtown Project Community Meeting 8/16/06

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PUBLIC COMMENTCOMMUNITY DIRECTIVES

No school closed.

Downtown Project Community Meeting 8/16/06

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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.

Downtown Project Community Meeting 8/16/06

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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.

Downtown Project Community Meeting 8/16/06

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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.

Downtown Project Community Meeting 8/16/06

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AERIAL VIEW OF DOWNTOWN PROPERTY

Centro Infantil

Dewey

Administration

MetWest

YukYau

La Escuelita

Downtown Project Community Meeting 8/16/06

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PROPOSED DEVELOPMENT ON DOWNTOWN SITE REVISED TO INCLUDE LA ESCUELITA AND METWEST

Downtown Project Community Meeting 8/16/06

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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.

Downtown Project Community Meeting 8/16/06

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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

Downtown Project Community Meeting 8/16/06

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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.

Downtown Project Community Meeting 8/16/06

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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