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  $pectacular Balboa Lots
Bud Emerson | Klish Way

 

Extraordinary ocean view from Balboa Lots. Photo panorama Art Olson

enlargement

 

Extraordinary lagoon view from Balboa Lots. Photo panorama Art Olson

enlargement

Financing the Shores school property acquisition has proven to be a challenge for the City Council, now that it seems clear that the fundraising effort has come up short by over $3 million.

After considering several options for alternative funding schemes, the Council decided at their June 14 meeting that sale of the two city-owned lots on Balboa Avenue was the preferable strategy. Their hope is that the net proceeds of these lots with such extraordinary ocean and lagoon views will amount to enough to fund other capital projects as well, such as the new lifeguard tower.

The lots will be offered for sale in a process involving sealed bids, followed by a competitive auction among the bidders to try to get a higher price. If the final price is determined by the Council to be too low, they will reserve the right not to consummate the sale. Stay tuned--the Sandpiper will follow the process and report on the results.

 
 

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