Amid money crunch, NC district rents out 87-year-old home |

Amid money crunch, NC district rents out 87-year-old home

Who knew Nevada City School District was a homeowner?

The cash-strapped district, staggering under the weight of a $1.4 million shortfall in its $9 million budget, voted to rent out a vacant, 87-year-old home it owns.

Located at 215 Washington St. in Nevada City, the vintage home once served as a district office, then an office for the home study charter program. Nobody has lived or worked there for three or four years, said Superintendent Roxanne Brown Gilpatric.

The house measures 1,921 sq. ft. and will probably rent for about $1.10 per square foot, which would bring the district about $2,100 in revenue each month. The money will funnel into a maintenance fund to modernize Deer Creek and Seven Hills schools.

It’s not for sale, though – Gilpatric said the district does not want to sell with the market values so low.

Nevada City School District’s enrollment has declined sharply in past years, and petering property tax revenue compounded the budget crunch.

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