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II.A.3.
 
Charlotte-Mecklenburg Board of Education
 
Agenda Item
 

Meeting Date
February 23, 2016

Agenda Item Title
Recommend Approval of Proposal to Permit the Town of Matthews to Obtain a Loan and Grant a Deed of Trust for the Property Known as the Matthews Community Center

Staff Present

​Peggy Hey, Executive Director of Facility Planning and Management



Main Points
  • ​The Board of Education transferred property to the Town of Matthews in 1983 and reserved a right of reverter.
  • The Town is seeking to obtain a loan for repairs to the property (Community Center).
  • The lender is requesting that CMBE approve the granting of the deed of trust to secure the loan.
  • CMS staff recommends that the Board of Education approve the Town of Matthew's grant of a deed of trust for the Community Center.  No rights under the original deed shall be impaired. 


Fiscal Implications
There is no fiscal implication

Agenda Item Type
consent items


Motion
Recommend approval of proposal to permit the granting of the deed of trust by the Town of Matthews without limiting any other rights in the original deed from CMBE to the Town of Matthews.