The Nanaimo school district will be adding approximately $320,000 to its coffers after the sale of the Five Acres school property.
The Harbour View Street junior learning alternatives program school was closed in 2013 as part of the district’s 10-year enhanced facilities plan. At a special meeting on Nov. 5, the school board approved the sale to a B.C. company for $345,000, minus commission and fees, according to Donna Reimer, school district spokeswoman.
“It’s part of our asset management plan that we’ve been working on to sell properties that we no longer have an educational use for so that we can build up the resources to invest into new facilities,” Reimer said.
Phil Turin, school district secretary-treasurer, said he couldn’t comment on the buyer but did say it was a “numbered company.” He said the sale is expected to close at the end of November.
The money will be put into an account earmarked for a new Nanaimo District Secondary School. The balance in that account is about $2.8 million, according to Turin.
In September, the board added $900,000 to the account with the sale of the Princess Royal Elementary School to Tardon Developments Inc.