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PORTLAND-The Portland School Board this week approved a real estate trust agreement aimed at generating income from surplus school property to offset lower revenues in part related to decreasing enrollment. “Innovation Partnership” allows the school, with the help of an advisory panel, to begin identifying and more actively marketing properties for lease, sale or redevelopment.

Kerry Hampton, head of property management for Portland Public Schools, was not immediately available to provide GlobeSt.com with more details about the program and specific sites already considered surplus. One potential site is the former Washington-Monroe High School in Southeast Portland.

The advisory committee is being led by Bill Scott, director of the Oregon Economic and Community Development Department. Innovation Partnership comes about nine months after another advisory panel urged such action in order to generate enough revenue to avoid further school closings.

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