The Palos Verdes Peninsula school board gave up on attempts to negotiate an agreement with Rolling Hills Estates to develop the closed Dapplegray Intermediate School in that city, then voted unanimously to put the 43-acre site up for sale to the highest bidder. Bids will be opened in June, with a minimum asking price of $6 million.
The board had hoped to enhance the value of the property by working out a deal with the city in advance. In return for favorable zoning, Rolling Hills Estates would have received 10 acres free for public recreation and a developer would have built 61 homes on the remaining land.
However, the development agreement stalled over questions of which portions would be given to the city and the district's rights in the event a deal with a developer fell through.
Under the Naylor Act, the city has the right to purchase up to 30% of the Dapplegray property for one-fourth of its market value.