Council OKs extension

The Chula Vista City Council recently approved a third and final 90-day extension for an exclusive negotiation agreement with the University of Saint Katherine.

The agreement is the latest development in the city’s attempt to bring a university to eastern Chula Vista with 375-acres of city-owned land.

According to the city manager’s memo, the final three months will allow both parties time to negotiate an option-to-lease agreement for a 10-acre parcel on the University of and Innovation District property.

The option to lease will allow the University of Saint Katherine the appropriate amount of time to conduct a capital fundraising campaign to construct their initial 10-acre facility.

“Based on staff’s review USK appears to be financially capable of maintaining and operating a new facility on the University and Innovation District property but lacks the financial resources to build the facility,” the memo states. “However, based on their track record of being able to secure approximately $9 million in private donations, over seven years, it is staff’s recommendation to extend the ENA for an additional 90 days and negotiate an option to lease agreement for a 10-acre parcel on the University and Innovation District property.”

City Manager Gary Halbert said if University of Saint Katherine is unable to secure the adequate funds to construct the facility than the option to lease will expire, leaving no risk to the city.

The nonprofit, private university has its main campus in San Marcos. but is looking to move to Chula Vista.