School District Finalizes Sale of Surplus Property

The has gained $5.8 million after finalizing the sale of its south Livermore property.

Superintendent Kelly Bowers announced the deal with Pleasanton-based Ponderosa Homes at Tuesday's school board meeting.

"We are going to hoard that money for now and use it as an internal borrowing fund," Bowers said, adding that the district is not in a position to be building.

School officials said the money from the deal can be used for facility improvements only.

The property is 13.5 acres in the Vinsanto neighborhood near , just off Concannon Boulevard. It had been planned for an elementary school.

However, enrollment projections showed there isn't a need for an elementary school in that neighborhood, making the property surplus.

The property will be the site of 51 single-family homes, according to a .

Jeff Schroeder, senior vice president for Ponderosa Homes, previously told Livermore Patch that construction could begin in the summer or fall.

He said he is hopeful that model homes would be available to show next spring. 

Meanwhile, the district is looking to form an advisory committee to review its facilities master plan and update it with a list of projects that need to be completed.

In addition, the district likely will survey the community to determine support for a possible school bond. For more information, read our previous report .