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School Board Pool Deal on the Agenda Tonight

The school board will consider a deal last night to raise funds to fix the Encinal Swim Center (File Photo)

The school board will consider a deal last night to raise funds to fix the swimming pools. (File Photo)

In return for the City of Alameda advancing $1.9 million, and effectively loaning $1.15 million to the Alameda Unified School District to fix the Encinal Swim center, the school board is expected to approve a complicated lease and leaseback financing deal tonight that would see the school district enter a leasing arrangement with the City for the swim centers, and hand back to the City of Alameda some Tidelands Trust property deeded to the district in July, 2000.

One challenge is that it’s unclear what the value of the Tidelands Trust property is.

The term sheet for the deal lists the property as “Tidelands Parcels” comprising of Alameda County parcel numbers 72-380-19 and 72-380-20.

A check of the county tax assessor website for those parcel numbers returned no information, such as an assessed value.

The supporting documents for tonight’s meeting provide no other description of parcels in question.

If the property was extremely valuable, it could turn out to be a giveaway to the City of Alameda from the school district, and an expensive price to pay to get the pools fixed.

Tidelands Trust land is land held in the public trust for the people of California, and managed by the California State Lands Commission.

A consultant hired by AUSD, Aquatic Design Group, Inc. has estimated that it will cost $1.9 million to renovate the Encinal Swim Center. The City of Alameda would pay $750,000 of the cost.

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