Aliso Viejo : Trustees OK Deal to Buy Site for School

Trustees in the Capistrano Unified School District have approved a $6.5-million deal with the Mission Viejo Co. to buy 10.3 acres for an elementary school in Aliso Viejo.

Under the agreement approved last week by the Board of Trustees, the Mission Viejo Co. lowered the price of the land by $1 million on condition the district close the deal by today. After making an initial down payment of $1.5 million, the district will pay the balance over the next two years. The interest was set at 7.5%, officials said.

Funds to pay for the land, which is located in central Aliso Viejo at Chase and Sanborne streets, will come from a special Mello-Roos tax district created in Aliso Viejo and undeveloped parts of Mission Viejo. Capistrano Unified established the special tax district in 1987 to pay specifically for new schools, officials said.

This past fall, the school district opened its first elementary school in the community of 17,000, which is celebrating its 10th anniversary. The city is expected to reach a population of 48,000 in the next 30 years.

Work is already underway on Aliso Niguel High School, which will serve both Aliso Viejo and Laguna Niguel students when it opens in September, 1993. Officials also recently broke ground for the future Aliso Viejo Middle School and are making plans for another elementary school.