District Amends Morro Elementary Property Sale Agreement

San Luis Coastal Unified School District will amend its property sale agreement with the City of Morro Bay to permit the City to close on the former Morro Elementary School site while deferring part of the $5.3 million purchase price. The deferred balance will accrue 2% annual interest beginning November 1, 2027, and is due by October 31, 2029.

Document date · October 4, 2026

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Scope & details

The full contract record, as filed.

Contract amount

$5.3 million purchase price; 2% per annum interest on deferred balance

Contract type

OTHER

Contract term

Close by the end of October 2026; deferred payment over a maximum period of three years; interest begins accruing November 1, 2027; full payment due October 31, 2029

Renewal date

2029-10-31

Renewal

First amendment changes the payment and closing terms of the March 13, 2026 agreement; deferred balance and accrued interest are due in full by October 31, 2029.

Document type

Agenda

Source document

San Luis Coastal Unified School District Agenda Regular Board Meeting 2026-10-06

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the government contract by San Luis Coastal Unified?

City of Morro Bay was awarded this government contract by San Luis Coastal Unified, as recorded on October 4, 2026. The contract value is $5.3 million purchase price; 2% per annum interest on deferred balance.

How much is the City of Morro Bay contract with San Luis Coastal Unified worth?

The City of Morro Bay contract with San Luis Coastal Unified is valued at $5.3 million purchase price; 2% per annum interest on deferred balance.

What type of contract is this?

This is a government contract, documented as a agenda record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in San Luis Coastal Unified School District Agenda Regular Board Meeting 2026-10-06 (Agenda), dated October 4, 2026 from San Luis Coastal Unified. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does City of Morro Bay hold?

City of Morro Bay may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View City of Morro Bay's profile

What is San Luis Coastal Unified currently buying?

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