The San Ramon Valley Unified School District’s hub of operations appears poised to shift from Danville to San Ramon in the near future, pending a final decision by the Board of Education at a special meeting this week.
Superintendent CJ Cammack announced a proposal Monday for the district to acquire the commercial and office space at 3130 Crow Canyon Place in San Ramon as negotiations continue in closed session discussions about the potential sale of the current district offices at 699 Old Orchard Road in Danville.
“These transactions would be a major step toward long-term financial stability and operational efficiency for our entire District,” Cammack said in Monday’s announcement. “This is not just a good 3-year decision, but a good 30-year decision that will support our schools, students, and staff for decades to come.”
While acquiring the site would come with an $18 million price tag, Cammack said that continuing to host the existing tenants while using the empty space for the district’s operations is anticipated to bring in $1.3 million in annual revenue into the unrestricted general fund balance.
Meanwhile, the funds used to purchase the site would come from restricted redevelopment agency funds over the course of six to eight years.
“By utilizing these specific funds, we protect and enhance the General Fund while simultaneously ensuring that all bond dollars provided by our community remain solely dedicated to facility improvements at our schools,” Cammack said.
In addition to generating rental income, Cammack said that an additional benefit of the site is its proximity to the district’s existing service center at 3130 Crow Canyon Road, allowing the district to easily transfer some staff to the new offices and “restore the Service Center to its original purpose.”
Cammack did not reveal any further details about the sale of the current district offices, but he noted that due to its classification as a housing opportunity site in the Town of Danville’s current housing element, “we anticipate it will attract interest from developers.”
“While these exciting developments won’t entirely solve the District’s budget concerns, I am confident that this would be a tremendous step forward for the financial future of SRVUSD,” Cammack said.
The SRVUSD Board of Education is set to meet at 4:30 p.m. Tuesday (Oct. 21). The agenda is available here.
I don’t know enough about the deal to know if it makes financial sense on its own merits, or not. But it is worth pointing out that a “side benefit” of the proposal is that it effectively “converts” restricted-use funds into general budget, unrestricted funds, that can then be applied toward current operating expenses, such as salaries.