Washington Unified board approves financing and purchase agreement for 2101 Stone Boulevard

The Washington Unified School District Board of Education on Sept. 11 approved a resolution authorizing lease‑purchase financing of up to $12 million and voted to sign a purchase and sale agreement for 2101 Stone Boulevard in West Sacramento.

The measures, passed by roll call, authorize the district to proceed with due diligence, place deposits and move toward closing on a property the board said would replace the district’s deteriorating headquarters. “This evening, we are asking you to approve a resolution to authorize financing for the potential purchase of new district office facilities,” Chief Business Officer Monique Sova told the board during the presentation.

The board’s action follows a months‑long review of options, including remodeling the current district office (estimated at about $26 million), leasing, or buying new space. The district presented a recommended financing structure that relies on a direct lending lease‑based obligation rather than voter‑backed general obligation bonds; K&N Public Finance and a municipal advisor described a direct bank loan as the lowest‑cost vehicle for this purchase.

K&N representati…