Board extends transfer-development-rights agreement with 400 Logue LLC
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Summary
Trustees unanimously approved a two-year extension to preserve a transfer-development-rights (TDR) interest tied to a developer’s sale to GS Engineering, the district said.
The Los Altos School District Board of Trustees unanimously approved a second amendment extending a transfer-development-rights purchase-and-sale agreement with 400 Logue LLC.
District staff said the original TDR agreement dated to 2021 and had expired while the developer negotiated a sale of the project to GS Engineering. The extension preserves the district’s TDR benefit while the sale and project transaction are completed. The board moved and seconded the amendment; the motion passed unanimously with no public comment.
Staff described the action as an administrative step to protect the district’s contractual interest in the TDR while developer transactions are resolved. Staff did not present revised sale documents at the meeting and said the extension was intended to maintain the district’s position in the pending project transfer.