FOR IMMEDIATE RELEASECONTACT: Jeffrey Baier, Superintendent
Thursday, June 20, 2019Los Altos School District
Phone: (650) 947-1150
LASD Acquires New School Site with $127 Million in Taxpayer Savings
After a multi-year exhaustive search for a cost-effective solution to resolve its long standing site sharing and school overcrowding problems, the Los Altos School District (LASD) Board of Trustees voted unanimously to enter into a Purchase and Sale Agreement with Federal Realty to acquire 11.65 acres of land in Mountain View on which to construct a new school.
“This is a huge win and great value for our community. With this property, we will construct a new school, provide recreational facilities and gain a neighborhood park in an area of our community that lacks these important amenities. This achievement would not have been possible without collaboration from the City of Mountain View and we are grateful for their partnership as we move ahead with next steps to protect academic excellence for all of our students,” said Jessica Speiser, President of the LASD Board of Trustees.
Through a unique collaboration with the City of Mountain View, the District will offset the purchase price of the property by over $127 million. A Transfer of Development Rights program will garner over $79 million in funds to the District from local developers. In addition, park-in-lieu funds from the city towards the creation of a neighborhood park and other financial contributions from developers offset the sale price by an additional $48 million. LASD will pay less than $28 million for 9.65 acres of land: under $3 million per acre.
“Student enrollment in the northern portion of our district is growing and the area is developing rapidly. As thousands of homes are slated to come on line in the North of El Camino area over the next decade, we need this site to serve the growing student enrollment. Our ability to obtain this property at a relatively low cost will allow us to resolve our site sharing issues now, prepare for future enrollment in the area and ensure we can preserve our small school model that drives the academic excellence our community expects from our schools,” said Jeffrey Baier, Superintendent.
James Reilly, a Mountain View resident and LASD parent said, “Having participated over several years in community forums, committees and task forces to help resolve our long standing facilities challenges, I am very excited for LASD to purchase land in the North of El Camino area. The new school site is a great value for LASD and can be a tremendous campus to improve the educational experience for generations of students. Also, the site will be a great resource for residents of Mountain View. A neighborhood park, playing fields and gym will make our community a better place to live.”
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