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.