What happened to the rental income that MPCSD used to receive?
The district owns 5 school campus properties. Until 2015, the smallest property known as the “O’Connor site” located in the Willows neighborhood, was leased to the private German American International School (now known as Alto International School). This lease brought in approximately $350,000 per year as income for MPCSD. As enrollment in the district has steadily increased, it became necessary to house MPCSD students on the Willows campus property. Therefore, the lease with the private school was ended in May 2015, at which time construction began on the property to build the new Laurel Upper Campus. The completion of Laurel Upper Campus in 2016 enables the district to house approximately 660 K-5 students this year between the Lower Campus and Upper Campuses with some room to grow as enrollment increases. The district does not own any additional property so there is no longer an income stream available from rental property. Click here for prior year revenues brought in from this site.
Neighboring community-funded districts, Palo Alto and Las Lomitas, enjoy sizable rental incomes from property still owned by their districts but leased to private schools and community organizations.