San Diego district gets $18.5 million bid for former elementary school site

Developers have offered the San Diego Unified School District $18.5 million for the old Mission Beach Elementary School, 2.23 acres of prime coastal real estate that is the centerpiece of a controversial land sale. The San Diego Union-Tribune says the top bid made during an auction is $2 million more than the district was offered last year in a deal that was ultimately rejected the school board. The district is looking to generate some $50 million by selling surplus property to close a projected $92 million deficit to next year’s $1.1 billion operating budget.