SANTA MONICA—YWCA Santa Monica/Westside has agreed to transfer a one-acre parcel to Santa Monica College for $5 million.
The college’s board of trustees announced its unanimous agreement at its meeting on Tuesday, January 17. The one acre lot is located on 14th Street south of Pico Boulevard adjacent to the college’s main campus. The new property is intended to enhance programs ranging from health and wellness services to resources for neighborhood youth and military veterans. The site’s location offers easy access by being located on two bus routes.
Santa Monica College Superintendent/President Dr. Kathleen E. Jeffery said in a statement that the college’s acquisition was possible through the availability of new state grants. She added the site will strengthen student support programs and provide more options for students including the Pico Promise Transfer Academy, as well as classes for adults in the college’s Emeritus program.
The funding for the purchase will come from the student enrollment capital fees. A press release from Santa Monica College revealed that the YWCA plans to use the proceeds from the $5 million sale to establish a donor-advised fund at the California Community Foundation to award grants to non-profits.
President of the Board of the YWCA Santa Monica/Westside Anne-Marie Spataru said in a statement that when the college’s board of trustees realized the site was not financially sustainable due to declining donations, they went through the process of weighing the pros and cons of buying the property. With the closing of the sale, she added that the board will move forward with its plans to fund grants to non-profit organizations that are in the interests of YWCA.