Page 5 - Lozano Smith Property Checklist
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an early childhood education facility or a school for elementary and secondary

               II. Consider Physical, Political, and Historical Aspects of Site

                   Optional: Clarify Site’s Physical Development Constraints, both for the District’s purposes and
                   for the information of prospective buyers and developers.

                      Ensure title is free and clear of tax lien liabilities, restrictive covenants, conditions and
                       restrictions, restrictive easements, Certificates of Interest issued by the state of
                       California, and any additional constraints.

                      Review acquisition and improvement financing history: If the property was either
                       acquired or improved with debt obligations such as tax-exempt bonds or Certificates of
                       Participation, give consideration to possible impacts on covenants made in connection
                       with that financing or a potential loss of tax-favored treatment of outstanding debt.

                      Obtain a boundary/survey map to verify acreage and land area and a legal description.

                      Determine current zoning and general plan restrictions on the property as well as the
                       likelihood and time line for changes to a more favorable designation.  This review should
                       also reveal other restrictions and costs such as Coastal Commission approval, Corps of
                       Engineers approval, availability of water and sewer connections, off-site costs such as
                       traffic mitigation, park dedication fees, fees for special districts, etc.

                      Obtain a soils or geological study, if potential problems are identified (e.g. liquefaction
                       risks, slope problems, etc.).

                      Consider having the site inspected to determine whether it contains any toxic or
                       hazardous materials.

                      Obtain an asbestos study and removal cost estimate for existing buildings.

                   Optional:  Clarify Political and Policy Issues.

                      Although an appraisal is not required, it is often wise to obtain at least one appraisal to
                       obtain minimum and target values, whether the district elects to share the appraisal or
                       keep it confidential.

                      Meet with key political players in City or County having jurisdiction to ensure that highest
                       and best use recommendations have potential for obtaining development approvals.

                      If possible, obtain information from City or County which outlines its approval process
                       (e.g., allowable densities and land uses, fees, exactions).

                                  Checklist for Sale or Lease of School District Surplus Property   4
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