The board of trustees approved a declaration of surplus properties for Armstrong Middle School, Davis Elementary School and Forman Elementary School at its Sept. 17 work session.
The big picture
According to meeting documents, district officials estimate $13 million in revenue could be gained from the sale of the three properties. The Carpenter Middle School property is expected to be retained by PISD for future use.
As part of the resolution, the properties for Armstrong, Davis and Forman will be declared surplus at the conclusion of the 2024-25 school year, clearing the way for a potential sale. Johnny Hill, deputy superintendent for business and employee services, said declaring the properties surplus was a necessary step prior to their sale.
In deeming the properties surplus, the buildings at Armstrong, Davis and Forman will be torn down after the school year as they are not needed for future school district use, Hill said.
“That’s not the case for the property with Carpenter Middle School,” Hill said. “There is a possibility in the future that the district would be able to use that for a future school site or future building with some kind of school function.”
Looking back
The process for determining the school properties as surplus began with a plan adopted in May outlining how PISD would handle the properties for closing schools.
Hill said the plan outlined a process for first offering a chance to buy the property to the city of Plano before soliciting sealed bids. A goal for the sale is to obtain fair market value if a transaction occurs, Hill added.
Next steps
The district has an idea of the appraised value for the three properties through the Collin Central Appraisal District annual appraisal roll, but will seek an expert opinion before approving a sale, Hill said.
“We would have a commercial certified appraiser come in and assess the fair market value of that property before we offered that to the city,” Hill said.
Any sale agreement would require approval from the board of trustees, although no timeline was provided at the meeting for when an action item would be on an agenda.
