FOUNTAIN VALLEY : Trustees OK Pact to Sell Vacant School

Fountain Valley School District Board of Trustees announced Thursday a final agreement to sell the vacant John B. Bushard School for $5.6 million to The Presley Co., Southern California Division.

Board of Trustees President Catherine Hacker said the sale is a cash deal and that the money is desperately needed to pay for deferred maintenance--such as new roofs and carpet--at district schools.

“We’ve been banking on this money for four or five years,” Hacker said. “We’re hopeful we’ll see that money in this budget year and that we’ll be able to utilize it to improve our school sites.”

The city has approved the construction of 58 single-family homes at the site. Under the agreement, Presley Co. has until Dec. 31 to produce the final tract map for the project, Hacker said. The district had hoped to sell the 10-acre site to another housing developer last year, but that deal collapsed because of soil problems.