KNIGHTSEN -- Homes going up in Discovery Bay are bolstering Knightsen School District's budget in the wake of a bond measure the agency tried, but failed, to persuade voters to approve last year.
Although the tiny district had been hoping that the $3 million revenue-generating proposal would help it repay a construction loan, a Walnut Creek builder has been pumping money its way instead.
Since the Nov. 6 election, Kiper Homes has paid Knightsen School District $632,000 in developer fees on approximately two dozen homes that it's building in the Discovery Bay community known as Watersong at the Lakes, said Superintendent Theresa Estrada.
The sum is enough to cover two more years of bond payments -- through 2016-17 -- which amount to $262,000 annually, she said.
This influx of money coupled with the fact that enrollment hasn't declined as quickly as school officials were projecting a couple of years ago has spared the district from notifying teachers this spring of its intent to dismiss them, Estrada said.
Whether the district will have the funds to restore at least some of the other services that it's cut by the time classes resume in July remains to be seen, she said.
Contact Rowena Coetsee at 925-779-7141. Follow her at Twitter.com/RowenaCoetsee.