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Palo Alto Unified board approves term sheet to transfer seven acres of Cubberly to city; sale contingent on voter measure and proceeds limited to capital work
Summary
Trustees unanimously approved a term sheet to sell about seven acres of the Cubberly site to the City for $65.5 million, contingent on the city securing voter approval for a funding measure; the district said proceeds would be restricted to capital improvements and it will retain other acreage for potential future school use.
The Palo Alto Unified School District board on Oct. 8 approved a term sheet to transfer roughly seven acres of the Cubberly site to the City with a proposed purchase price of $65.5 million, subject to the city securing the funds (including a potential voter measure). The board voted unanimously to approve the term sheet.
Presentation and contingencies: Trustees described a multi-year, collaborative process with city staff and an ad hoc committee that produced the term sheet. City staff said the transaction is contingent on the city raising funds; the city manager noted a November measure could enable the sale and that voter-threshold dynamics (including the effect of other ballot measures) would influence approval mechanics. District leaders said proceeds from any sale would be limited to capital improvements and could not be used for general operations, salaries or benefits.
Rationale and safeguards: Trustees emphasized preserving about 20 acres for a potential future school and retaining flexibility even after transferring a small portion of the site. Supporters, including community members and city council partners, framed the sale as an opportunity to fund urgent repairs and capital projects across district facilities and to get Cubberly repaired and reused as a community resource.
Vote and immediate outcome: A trustee moved to approve the term sheet and, after a second, the motion passed by the recorded board vote at the meeting.
Quotes: "The short version is ... the purchase price ends up being $65.5 million," a trustee said when describing the deal. City staff said proceeds would be used only for capital improvements and not the district's general fund.
What happens next: The sale remains subject to the city completing its funding plan and voter approval where required. The board's approval of the term sheet authorizes continued negotiations and next steps consistent with the contingencies described; community speakers asked that leaders move promptly to implement improvements to the site if the sale proceeds.
Provenance: The board discussed and approved the term sheet beginning with the board's move to the item (around mid-meeting) and completed the vote before moving on to information items and adjournment.
