LOS ALAMITOS : City Interested in Buying Laurel Park

City officials have expressed interest in buying Laurel Park, which the school district is offering for sale to finance the renovation of a middle school.

After a closed session last week, Mayor Charles E. Sylvia said the city will acquire the 4.5-acre park, which it currently leases at $1 a year, if the price is right and the city is able to craft a financing package.

The Los Alamitos Unified School District is selling the property for $2.4 million to finance renovation of Oak Middle School, closed since 1986 but scheduled to reopen in the fall to solve overcrowding at McAuliffe, the district’s only middle school.

But with $2.2 million of city funds frozen in the bankrupt county treasury, it is doubtful that the city could get the money to buy the property. Issuing bonds to finance the purchase is not an option, officials said.

“I don’t think a bond issue would fly,” said Councilman Robert P. Wahlstrom, adding that as a matter of policy the city does not undertake long-term borrowing.

Wahlstrom said the city could create an assessment district if it was approved in a citywide vote by a two-thirds majority. He said the most practical option is to make annual payments to the school district over a number of years.

But first, the two sides must agree on the price.

District officials have said that if the sale of Laurel Park fails, they will have to sell the closed Weaver Elementary School in Rossmoor. Weaver was offered for sale to developers last year for $8 million, but residents opposed the sale, contending that the school may be needed in the future as district enrollment grows.

But to ensure that Oak reopens in September, either Laurel Park or Weaver School must be sold, district officials said.