Title: AC4-Cooperative Agreement with We Help Community Development Corporation

Recommendation:

I recommend that the School Board approve the Cooperative Agreement with We Help Community Development, effective March 15, 2006 through June 30, 2007, and authorize the Superintendent or designee to sign all documents related to the Agreement which are required for implementation.

Description: •  The purpose of this cooperative agreement is to allow the School District of Palm Beach County Glades area employees the opportunity to obtain affordable housing in the Glades area.
•  The Corporation is developing a multi-phase planned unit development in the City of Belle Glade, Florida known as Abidjan Estates.
•  The School District and the Corporation  recognize the need to recruit and retain high quality employees for the Glades area. The homes to be built on the reserved lots shall be offered  for sale to individual employees working in the Glades area.
•  The Corporation will reserve thirty (30) single family  residential lots within Phase 1 of Abidjan Estates for the School Board employees to purchase homes within Abidjan Estates. The homes are 3 and 4 bedrooms with a garage.  The base unit cost is $185,000.00.
•  The Corporation represents that  the first model  homes in Phase 1 will be completed by April 30, 2006.
•  The School District shall pay a $60,000.00 reservation fee ($2,000.00 per lot X 30 lots) to the Corporation.
•  The Cooperative Agreement period will be from March 15, 2006 through June 30, 2007.

Financial Impact:

For Additional Information, contact:

Ann  Killets,  akillets@palmbeach.k12.fl.us
Melinda Wong, wong@palmbeach.k12.fl.us
Marcia Andrews, mandrews@palmbeach.k12.fl.us
Barry Present, present@palmbeach.k12.fl.us

Attachments (list):
Abidjan Agreement - Executed by We Help.pdf
Abidjan Beneficial Interest executed.pdf
We Help - Checklist completed.pdf
Q&AAC4.doc
Q&AAC4.doc