City, schools land swap deal collapses
A property deal that would have involved a land swap between the city and the school district has fallen apart. As a result, the district may lose out on lease revenue equal to the salaries of 12 teachers and the city must seek a new location for the police station it hopes to build. Both sides attribute the collapse, in part, to the district’s properties being substantially devalued because of Measure DD’s passage two years ago, an argument dismissed by the slow growth initiative’s leader. Redondo Beach Unified School District officials said this week that negotiations – which have taken place over the course of several years – have now ended. District officials believed the outlines of a deal were in place that would have given RBUSD control of the Franklin Community Center and increased the city’s rent at 200 N. Pacific Coast Highway from $48,000 to $300,000 annually. The city issued a formal offer last month, however, that included the land swap but only increased rent at 200 N. PCH to $90,000. The school board in closed session last week rejected that offer. Board president Todd Loewenstein expressed disappointment at the city’s counteroffer. “Frustrated would be an…
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