Diamond Bar : School Land Deal Finalized
The City of Industry and the Pomona Unified School District have closed a deal that will give the school district a 72-acre parcel it wants for a high school.
Escrow closed last week on the land, south of the Pomona Freeway (60) and west of Chino Hills Parkway. District officials said the site is their first choice for a long-awaited northern Diamond Bar high school, to be called Diamond Ranch High School.
Industry also gave the school district $5 million to grade the site and stabilize soil.
The land swap was authorized by a recent state law, sponsored by state Sen. Frank Hill (R-Whittier) and Assemblyman Paul Horcher (R-Diamond Bar). The measure exempts Industry from the state law that requires cities to build low- and moderate-income housing.
Under the law, Industry will hand over about $8 million a year in redevelopment revenue to the Los Angeles County Housing Authority.
The housing agency will use the funds to build affordable housing in neighboring San Gabriel Valley communities.
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