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Board hears update on talks to buy a parcel in Gossamer Grove for a future elementary school
Summary
A district subcommittee reported ongoing negotiations with Lennar to acquire a parcel in the Gossamer Grove development; an independent appraisal of the parcel was reported at $3,800,000 and the proposed purchase would use a promissory note structure that delays payment until state matching funds are available and CDE site approval is obtained.
District land‑acquisition committee members told the board they are nearing terms on a potential purchase of a parcel in the Gossamer Grove residential development that the district hopes to use for a future elementary school.
Dan, who led the subcommittee update, said the district negotiated a two‑part arrangement: a master agreement covering escrow and site terms, and a promissory note that would allow the district to defer payment until it secures state matching funds. "It appraised it, we had an independent appraiser come in, and it appraised at $3,800,000," Dan told trustees. He said the…
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