Geneva School District 304 hopes to get $2.2 million for about 28 acres of vacant land it purchased in 2007 at the northwest corner of Keslinger and Brundige roads.
The Geneva Board of Education voted unanimously Monday to authorize the sale of the property, which it bought for bus parking and maintenance.
But that was in the halcyon days of 2007, when it seemed as if new development would go on forever and home prices would do nothing but rise. The fiscal knots have tightened significantly since then, and Geneva's public school buses have been parking on the middle school campus with no need for additional space.
School Board President Mark Grosso has been pushing for the sale of the surplus property since he joined the board four years ago. He smiled during the agenda announcement and offered to make the motion for the sale of the property.
The board can sell the land by auction within 60 days. If it doesn't get the $2.2 million minimum asking price—which would cover the $1.5 million the district paid for the property plus its investment to the Kane County Department of Transportation for improvements to the Brundige Road bridge—then the district can put the property on sale in the real estate market for 120 days.
The property is zoned for industrial use.
Want to Stay Up on School News in and Around Geneva?
- Bookmark Geneva.Patch.Com on your home computer or laptop.
- Like our Geneva Patch Facebook page.
- Follow us on Twitter at @PatchGeneva.
- Sign up for Geneva Patch's newsletter and breaking news alerts .
Click the "Keep Me Posted" button below this text.