Board of Directors Regular Meeting Agenda
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Receive, consider and act upon the First Amendment to Covenants, Conditions and Restrictions for The Woodlands Mall between The Woodlands Land Development Company, The Woodlands Township and The Woodlands Mall Associates LLP;
There is no fiscal impact related to the First Amendment.
The Woodlands Township has been approached by The Woodlands Mall Associates, LLC, owners of The Woodlands Mall and a affiliate of General Growth Properties (GGP) seeking an amendment to the Covenants, Conditions and Restrictions (CCRs) imposed by their Special Warranty Deed. The purpose of the amendment is to grant GGP and expanded use of the property to allow them to lease a portion of the building to a private school called "Fusion Academy". The school would have limited enrollment expecting 10-20 students per semester. Additional features of the school are:
Fusion currently has 23 locations throughout the country with one in Plano Texas, another one under construction at the Houston Galleria, and one more in Austin to open this year besides the proposed Woodlands location.
Primary grades are 6 – 12 with a larger percentage in 9 – 12 grade level.
The students are in a “one on one” class setting which is their primary school.
Tuition ranges from $30,000 to $35,000 annually.
The school demographics are aligned with a higher demographic wage earner that can afford a specialized private education. Students range from young athletes that are training (Olympics) and cannot attend a traditional school, young actors (which probably is more West Coast), students who may have a problem learning in a large class environment, or students who are above the normal level academic wise and want a more specialized education.
Approving the First Amendment has no affect on the Covenants, Restrictions, Easements, Charges and Liens of The Woodlands related to both the Woodlands Community Association and the Woodlands Commercial Owner's Association. Nor do these Covenants have any affect on the CCRs of The Woodlands Mall. The First Amendment does provide the Township additional review and approval authority that is currently not provided.
The Strong Firm has prepared the First Amendment to Covenants, Conditions and Restrictions for The Woodlands Mall between The Woodlands Land Development Company, The Woodlands Township and The Woodlands Mall Associates LLP.
It is recommended to approve the First Amendment to Covenants, Conditions and Restrictions for The Woodlands Mall between The Woodlands Land Development Company, The Woodlands Township and The Woodlands Mall Associates LLP. as presented.
First Amendment to CCRs
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