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CPS recommends sales of three vacant school sites and seeks $1.8B bond authorization
Summary
Capital staff recommended accepting redevelopment bids/offers for three vacant school sites (1241 W. 58th St., 1326 S. Avers Ave., 200 E. 99th St.) with deed restrictions; finance staff presented a resolution authorizing up to $1.8 billion in general obligation alternate bonds to fund capital plans.
Capital and real‑estate staff asked the board to accept bids or offers for three long‑vacant school sites and outlined redevelopment proposals, while district finance staff requested authorization to issue general obligation alternate bonds for future capital needs.
Steven Stultz, director of real estate, recommended the board accept an offer of $75,000 from Bontemps Apartments LLC for the former Bontemps Elementary site at 1241 W. 58th St., with a proposed demolition and construction of a 72‑unit affordable multifamily development and a later phase adding 60 senior units; the…
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