The Chula Vista City Council was in agreement Tuesday night in approving an option-to-lease agreement with the University of Saint Katherine, which gives the institution the potential to lease 10 acres of land after satisfying a number of conditions.
The option would give university founder Dr. Frank Papatheofanis and University of Saint Katherine “the certainty that we want to move forward together to see what that relationship is and define that relationship to negotiate a lease agreement,” said Eric Crockett, Chula Vista’s director of economic development.
Crockett said within a year of the option, city staff intends to present an executable lease and development agreement for the City Council’s consideration.
Some of the 14 conditions that must be met in order for University of Saint Katherine to enter into a lease with the city include the city’s approval for the 10-acre property, University of Saint Katherine obtaining all necessary regulatory approvals and government agency approvals from all applicable agencies to proceed with construction and completion of the university, and that the University of Saint Katherine delivers satisfactory evidence to the city that a payment bond and performance bond have been issued for the development and the city the same.
Crockett said if any of the terms are not met then the option agreement would be terminated and the city would have no other obligations to the University of St. Katherine.
He expects that in the next year the negotiations of terms and conditions of a lease and development agreement will happen.
“We still have a few years ahead of us before development begins,” Crockett said.
Chula Vista still has its focus on bringing a binational university and that the University of St. Katherine supports this plan and can potentially help attract a binational university to Chula Vista. The city recently received a letter from Technologioco De Monterrey, a private Mexican University that is interested in pursuing a partnership with the University of St. Katherine.
Mayor Mary Casillas Salas echoed Aguilar’s statement and said she hopes a lease agreement with University of Saint Katherine can be reached in the near future.
“I believe the action tonight moves the ball forward and I think it will peak the interest of other universities around,” she said.
