Manteca will see $756,823 as the city’s share from the sale of two properties that the now defunct Manteca Redevelopment Agency paid nearly $2.8 million to acquire over a decade ago.
Manteca Unified will receive roughly $2.7 million as one of 10 local agencies entitled to the proceeds from the sale of RDA properties that were not committed to an active project or undertaking at the time the California Legislature decided to dissolve redevelopment agencies. The school district’s share is just under 51 percent while the city’s share is 14 percent. The rest is divided between agencies such as Delta College, San Joaquin County, and South San Joaquin Irrigation District among others.
The city does not have the money it will receive earmarked for any specific purpose. However, if Manteca continues on its quest to purchase the former Qualex building at 555 Industrial Park Drive the $756,823 would likely go toward that endeavor. The city has until the end of 2020 to opt to purchase the property bought by the RDA 14 years ago for $3.6 million. In order to buy it without going to bid, the city has to pay the current market value. The last appraisal for the Qualex building was $1.5 million.
If the city doesn’t buy the Qualex structure for use as a homeless shelter by Dec. 31, 2020 the state law will force an auction of the property to the highest bidder.
Manteca Unified School District Superintendent Clark Burke has previously noted how the schools spend the RDA proceeds must fall within state guidelines.
In the past those guidelines have allowed them to help pay for the construction of community gyms at various elementary campuses such as New Haven and Shasta schools. It was also used to purchase property adjacent to Manteca High.
There is a high likelihood the $2.7 million the district will receive for the two property sales will go to facilities.
The district current has a laundry list of $635 million in safety needs and instructional space housing for existing students. That is in addition to the $159 million of work that has been done and is in the process of being done using measure M bond proceeds. The district is seeking voter approval of a $260 million bond on March 3, 2020 in a bid to tackle the facilities needs list.
The proceeds are coming from the auction-based sale of 2.54 acres at Daniels Street and Airport Way for $2,905,885 as well as 8.07 acres on South Main Street just north of the Funstein Flooring distribution center for $2,511,000. Originally the Airport Way land had a winning bid of $3,622,502 or 32 percent above the appraisal. However, a subsequent title review noted right of way dedicated to widening Airport Way was inadvertently included in the auction description. The high bid price for the property was adjusted accordingly.
To contact Dennis Wyatt, email dwyatt@mantecabulletin.com
