Sweetwater School District Is Underwater School District

Sweetwater Union High School District in San Diego County has made headlines in the past for questionable spending, a superintendent who was convicted of bribery, and other woes. Now, the district is back in the news with a San Diego Union-Tribune story headlined, “Sweetwater Is Underwater on Land Deal: Property Purchased by School District for $8.8 Million Is Worth Far Less.”

The story notes: “What began eight years ago as a deal to develop a new administration complex for Sweetwater schools has cost the district $40 million, with no new district headquarters in sight. Under its unusual financing, Sweetwater now owes $33 million on property it bought for $28.8 million. And today, the 23 acres of offices and warehouses … are worth as little as $10.6 million” (Source: San Diego Union-Tribune, May 12.)

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