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Air space rights over Kingsgate Mall may be sold by the Vancouver School Board (VSB) to a developer.

A work plan prepared for the VSB, which covers a broad array of district-wide concerns expected to be addressed by the fall, indicates that the disposition of an air parcel is among the “considerations currently underway”.

The prospective sale is expected to generate capital funds to be used in infrastructure projects.

According to the work plan up for approval by the board at its scheduled 5 p.m. meeting Wednesday (May 9), the sale of an air parcel over Kingsgate Mall will “support the development plans for the area”.

The work plan also mentioned the renegotiation of the lease over Kingsgate Mall as among the “considerations currently underway”.

“An update report will be brought to the Board in June,” the document states.

The VSB owns the property at 370 East Broadway on which Kingsgate Mall is located. The mall is owned and operated by Beedie Industrial, which pays the district $750,000 in annual rent.

In 2016, the then B.C. Liberal government had wanted the board at the time to sell the property, and use the proceeds for operating expenses.

The province offered $6 million in exchange for an ownership share in the property, but this was rejected by the previous board.

The same board was fired in 2016. The current board was constituted after a by-election in October 2017.

Present VSB chair Janet Fraser said that she cannot reveal details about any ongoing work related to Kingsgate Mall.

Like matters related to labour and law, issues pertaining to lands are subject to confidential deliberations.

“If there was work being done in those areas, it’s only when the board chooses to make them public that there’s any reporting out,” Fraser told the Georgia Straight in a phone interview.

As of July 1, 2015, the 370 East Broadway property at Kingsway was valued at least $79 million.

Patti Bacchus told the Straight in November 2016 that before she and other education trustees were fired by the province, the district was working on a “win-win” formula with Beedie Industrial.

This would involve the VSB retaining ownership of the land, with Beedie Industrial buying air rights only that will be used to build condos.