DFB: Title Revenues from School-Owned Real Estate

Classification: 
D: Fiscal Management
Code: 
DFB

Property owned by the school district and not presently used for school purposes will be put to use in ways that: (a) protect the present and future interests of the school system, and (b) produce income.  Traditionally, these goals can be achieved in three basic ways: sale of the property, conventional lease of the property, and development of the property by the Board of School Trustees (the “Board”) for commercial purposes. 

In order to protect the long-term interests of the school system and make the best possible use of surplus property in each case, the Board will consider each case on its own merits and will choose from among all options available one that best suits the particular site and the current projections for its future use. 

If the Board decides to sell or lease the property, the first option on any land that has been used as a school site for five years or longer will, with Provincial Government approval, be offered to the City of Vancouver for public use.

DMT Responsibility: CONT.

Cross References: 
*FLA Annex Closures
Adopted Date: 
Monday August 13, 1973
Revision Date: 
Sep 1994
Jan 1999