Stoneman Lease Signing Ceremony Monday Night

A ceremonial signing of a lease between the and the city of San Marino for the Stoneman property will take place at 6 p.m. Monday night.

The ceremony will represent the the San Marino City Council made March 9 to enter into an agreement for a 99-year lease—with option to buy—of the Stoneman School site from the San Marino Unified School District for $5 million.

Until recently, the city leased the Stoneman property on a yearly basis in order to house the Recreation Department. 

The SMUSD, facing a projected $5.6 million deficit, wanted to lease the property long-term to help compensate for the lack of funds. Since the Stoneman site was designated as surplus property, the school district is not permitted to sell it and use proceeds for operational expenses, according to SMUSD Superintendent Gary Woods.

"This event marks the culmination of years of work by the District and the City to ensure that the Stoneman property remains part of San Marino's history for many years to come," the SMUSD said in their newsletter Wednesday.

The ceremony is open to the public and will be held on the front steps of the Stoneman property (1560 Pasqualito Road) facing Pasqualito Road.