Huge Haul: Waste Handler to Pay CVUSD 9.5 Million for Surplus Land
Talk about the timing of the market.
Conejo Valley Unified’s surplus property on Conejo Center Drive, which nearly sold for less than $ 3 million five years ago, will earn the public school district more than three times as much.
Athens Services, Thousand Oaks’ new waste hauler, agreed to pay $ 9.5 million for the long-unused 10.7-acre parcel under an agreement approved by the school board on Tuesday.
Both parties are in receivership.
Athens reportedly wants to secure a local site to park its trucks before January 1, when it will start providing waste and recycling services to the city.
At the October 4 meeting, the board agreed to respond to Athens’ request for an expedited close, pushing back the sale date from December 15 to October 15.
In exchange for a shorter shutdown period, the district agreed to lower the sale price by 2%, from $ 9.7 million to $ 9.5 million.
As part of the deal, Athens offered to reimburse the district for attorney fees related to the expedited closure.
The board’s deal with Athens in June came three months after the city council chose to go with Athens on existing carriers Waste Management and Harrison Industries (Newbury Disposal).
At the time of their selection, Athens officials told the city they would park their trucks in Sun Valley, a 40-minute drive from Thousand Oaks, but hoped to get something closer.
The City of Industry-based transporter apparently found what he was looking for at 2498 Conejo Center Drive, a flat hilltop lot just south of the city’s maintenance yard off Rancho Conejo Boulevard.
Bequeathed to CVUSD by the City of Thousand Oaks in 2000 as part of a multi-stakeholder land swap related to the development of Dos Vientos, the plot was originally intended to serve as the new headquarters for the maintenance and operations division. of the school district when it moves. off Kelley Road.
When these plans never materialized, the district tried for years to sell the property in hopes of using the proceeds to build a learning center next to CVUSD’s headquarters on Janss Road. In 2011, he made a deal to sell the land to a party interested in RV storage, but the two parties couldn’t agree on the price.
The district has entered into escrow on several occasions, but “the previous buyers chose to end the escrow due to the presence of volcanic rock on the property, which could hamper their development plans,” according to a report. Staff.
Deputy Superintendent Victor Hayek said the accelerated shutdown would give Athens more time to do due diligence with the city of Thousand Oaks.
The property has appreciated in value over the past five years. In 2016, the district received an offer of $ 2.7 million for the lot.
The past few years have brought massive development and redevelopment to the Rancho Conejo industrial zone, increasing property values. Amazon, Sage Publications, and Atara Biotherapeutics are among the well-known companies that are leasing space there.
Asked about the deal in an email, Rondi Guthrie, Athens vice president of government affairs, said the company “is still investing in their communities.”
“While we have a solid operational plan to serve the community, we are logically exploring local alternatives that could allow for more efficient operations,” said Guthrie. “The Conejo Center Drive property is one of many local properties that may be suitable.”