Natomas Unified has apparently come to a tentative settlement with West Lakeside LLC, a development company, and real estate broker Mark Skreden over the purchase of a 41-acre school site in 2007.
As part of the settlement, the district said in its notice of the meeting is has agreed to pay West Lakeside $550,000 to end the lawsuit. Other terms of the agreement haven't been released publicly yet.
The district has called a special board meeting at 7:30 p.m. Wednesday so the board can vote on the settlement agreement.
The district sued West Lakeside - a partnership of developer Angelo K. Tsakopoulos and Woodside Homes - and Skreden in 2009, saying that they overcharged for the property. The district paid $13.3 million for a 41-acre school site - about $10.4 million too much, said school officials at that time.
The agenda posted by the district says Natomas Unified will pay $550,000 to West Lakeside and Skreden to bring legal proceedings to an end. The district has so far recovered $5.6 million of the money spent on the property in other legal action, according to the agenda. Of that amount, the district got $2.6 million in a settlement with Sacramento attorney Mark Steiner and his firm last year.
In October of 2011 West Lakeside filed a cross-complaint against the district.
The board meeting will be at district headquarters at 1901 Arena Blvd. in Natomas.
See Thursday's Bee for story on Wednesday night's meeting.
Loretta Kalb started her reporting career at The Sacramento Union, moved to KOVR-13 as a television reporter, editor and producer, headed to The Associated Press in San Francisco and eventually returned to Sacramento and joined The Sacramento Bee. Throughout her career, she has covered the state Legislature, courts, local government and, now, education. She is a Chico native and an Elk Grove resident.
Diana Lambert began her journalism career as a proofreader at the Lodi News-Sentinel. She is now a senior writer at The Sacramento Bee covering K-12 education and California State University, Sacramento. Previously she was The Bee’s Elk Grove bureau chief. Lambert was raised in a military family and lived at bases around the globe. She attended four high schools, graduating from Tokay High in Lodi and then Sacramento State University. She lives in Elk Grove.
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