The City of Boise and a private developer will buy the properties if the sales go through. The district wants to use the money to tackle a host of capital improvement projects.
"The remaining projects on our bond projects are some remodel work at Capital High School and some remodel work at Borah High School," said A.J. Balukoff, school board trustee.
The schools were torn down in 2009, and the land will sell for more than $2 million.
The city plans to build a park on the Franklin site.
"This was one of the areas where a school was closed, and that community felt the hit," said Nancy Gregory, school board trustee. "Being able to give them a park area as the city develops that property, which we understand is their intent, is a great boon to their community."
Jeff Stoddard is the buyer listed for the $1.7 million Cole property, but the sale is contingent on re-zoning that would allow 100 apartments and 50,000 square feet of retail.
The school board trustees say they'll be glad when both properties are off their hands.