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Phoenix Elementary board hears details on ballot measure to allow long-term leases, sales and exchanges of district property
Summary
District staff outlined what voter approval would allow — long-term leases (21–99 years), sales with restricted proceeds and rare property exchanges — and detailed current lessees, projected annual lease revenue of about $1.1 million and planned uses for those funds. Board members pressed staff on transparency, protections against school closures,
Phoenix Elementary School District No. 1 officials on Monday reviewed a voter proposition that would permit the district to sell, lease or exchange real property and heard how current leases are being used to generate revenue for district programs.
Executive Director of Strategic Initiatives Sarah Sims told the governing board that, if voters approve the measure, the district could enter long-term leases of 21 to 99 years, sell property with proceeds restricted to bond debt repayment or reinvestment in buildings, and — in uncommon cases — exchange parcels of land. "Lease funding allows for flexible spending. It's much more flexible than sale," Sims said.
Why it matters: Sims said the district currently receives about $1,100,000 per year from leases that range from short-term arrangements (cell towers, event rentals) to multi-decade agreements. The district identifies uses for that revenue including preschool subsidy, expanded sports and after-school enrichment, contracted transportation for field experiences, teacher mentoring, startup costs for new…
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