The Board of Education voted Tuesday to sell a school building that has been vacant for a decade in a deal with San Francisco State University that will net the school district nearly $11 million.
“This ... sale represents a great opportunity for our school district and San Francisco State,” said Deputy Superintendent Richard Carranza.
The building at 700 Font Blvd. is the former site of the San Francisco Unified School District’s Louise Lombard School. It later housed the School of the Arts, but has not been used since 2002. The district declared it a surplus site in 2007.
The one-story, 51,000-square-foot building sits on 2.5 acres of land and abuts the SFSU campus on two sides. University spokeswoman Ellen Griffin said SFSU has had its eye on the building since the SFUSD stopped using it. The university, which is acquiring the property through a state bond allocation, plans to eventually replace the existing structure with a new clinical science building.
“We feel that the current building is a safety issue and a bit of an eyesore,” Griffin said. But until money is found for construction, the property will be used for recreation, she added.
State law requires proceeds from surplus school district property sales to go toward one-time facilities expenses. The SFUSD plans to use the money to pay off long-term debt related to another building — a move the district said would save $880,000 a year for 16 years, for a total savings of nearly $14 million.
“That represents money that we can use for our general fund,” Carranza said.
The sale should come as good news to Mayor Ed Lee, who in March made the controversial suggestion that The City could withhold $6 million in available rainy-day funding until the SFUSD unloaded surplus property.