Board approves sale of surplus parcel known as '49 Land'; proceeds to capital fund
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Summary
Trustees approved a purchase-and-sale agreement to sell a surplus district parcel (referred to as 49 Land) to a private buyer for roughly $1.138 million, with proceeds to be deposited in the district capital fund (Fund 40).
The Placer Union High School District board approved an agreement for the sale of surplus district property described in the packet as the "49 Land." The board voted to accept a purchase price of roughly $1.138 million and authorized the superintendent and counsel to finalize sale paperwork and close escrow.
District staff told trustees the transaction is an as‑is sale with a 180‑day escrow and a $25,000 deposit; if the buyer terminates, the district retains the deposit. The buyer is pursuing local land‑use and feasibility research; the district’s next step is to notify month‑to‑month tenants (a grazing arrangement) so they can remove livestock and equipment ahead of escrow close. "The person who's looking to buy is still doing some legwork to figure out what he can build on the land," the facilities presenter said; the agreement assigns closing costs to customary parties and does not obligate the district to broker fees.
Proceeds from the sale will be deposited to Fund 40 (capital projects) and can be used for district capital needs (e.g., roofing, HVAC, building projects) rather than developer fees restricted to new‑development impacts. Trustees voted unanimously to approve the purchase and sale agreement; staff said they will report back with closing details after escrow completion.