To solve money woes, Fayette County Public Schools considers selling more property
The cash-strapped Fayette County schools is mulling selling more property to help the school district right its financial problems.
The district is considering selling multiple properties, according to documents released Saturday as part of the Fayette County School Board’s May 11 planning agenda. The board will likely vote on the sale of the properties at its May 21 meeting.
A planning meeting is scheduled for Monday.
The properties the district may declare surplus and sell are in several different areas of town.
One of the most valuable may be the former FCPS Central Office property on Main Street, which includes multiple buildings. The district moved out of that building to the John D. Price building off Russell Cave Road in 2020. That property is a little more than 3.3 acres, according to Fayette County property tax records. It is at a prime location near downtown Lexington. The addresses for that property include:
701 E. Main St. 709 E. Main St. 128 Walton Ave. 700 Bullock Place
Another property the board would like to declare surplus currently houses the George Washington Carver Academy, which will move to a new location soon. That property is about three acres. The addresses for that property include 115, 117 and 123 E. Sixth St.
The Rise STEM Academy is also scheduled to move to a new location in August 2026. The site is one of the largest the district is considering selling at 11 acres. The address for that property is 2420 Spurr Road.
In addition, the board is considering selling 72 high-mileage school buses, according to the board agenda.
Move comes as FCPS struggles with unknown shortfall
Fayette County Public Schools officials announced earlier this year multiple investigations have determined the district’s finances have been misstated for years, and the district must make cuts and other changes to balance its books.
The district announced earlier this month it would cut working days for many employees and would lay off 115 employees to generate an additional $1.9 million in savings. The cuts do not affect teachers or paraprofessionals, who work with teachers in the classroom.
The district will also seek a one-time $110 million loan to help it manage its finances until the district receives its annual tax allocation in the fall.
FCPS has already sold other property to make up for potential shortfalls. The district sold the former campus of the Southside Technical Center on Harrodsburg Road for $5.5 million in April.
School district officials said selling unused property was one of the recommendations of a community-led Budget Solutions Work Group, which was convened to look at revenue options after the district’s aborted attempt in May 2025 to raise the occupational tax.
“We will continue to keep our staff, families, and community informed through regular communication channels when there are meaningful updates to share,” said Miranda Scully, a district spokeswoman. “The next public update, including the proposed tentative budget for fiscal year 2026-27, will be provided at the school board’s planning meeting on Monday, May 11, at 5:30 p.m.”
