District Votes to Terminate Lease on Gym in Sale of Bushard School
As part of the sale of the Bushard School property, the Fountain Valley School District Board of Trustees has voted to terminate its lease with the city of Huntington Beach on the Bushard Gymnasium.
With the lease terminated, escrow can close on the Bushard Elementary School property, allowing development of 58 single-family homes on the site. The school site was among three surplus school properties sold to raise funds.
The gym was built for the Boys and Girls Club by the city of Huntington Beach on Fountain Valley School District property, using Housing and Urban Development funds. The lease on the property was not to expire until 2006 but under the sale will now be terminated Dec. 31.
According to Marc Ecker, administrative assistant to the superintendent, escrow on the property is expected to close in May, with construction beginning as soon as June. Because the district plans to close escrow before Dec. 31, it will be required to pay Huntington Beach for the gym’s value, currently assessed at $237,000. The gym has depreciated in value from its original $395,000 cost.
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