Newport-Mesa Unified School District trustees told their staff Tuesday to research the possibility of selling two pieces of district property for cash that would be used to renovate existing school facilities.
The properties, a parcel in an unincorporated area of Newport Beach near the proposed Banning Ranch development and another in Costa Mesa, were declared surplus by the board a few years ago.
Mike Fine, the district's assistant superintendent for financial services, said he had "no idea" what the properties would be worth, but some have estimated they could net the district as much as $10 million.
Whatever the amount, the district needs it. In June, school board members learned that the district faces $127 million in repairs to modernize electrical systems and shore up leaky roofs and flaking walls.