LAFAYETTE — About $1.2 million worth of Iberia Parish School Board property is up for sale.

The School Board is accepting bids on three of its properties through Wednesday.

The properties are no longer used by the school system and sale proceeds will help boost the district’s general fund, which has been depleted by nearly $6 million over the past two years by rising retirement costs, Superintendent Dale Henderson said.

“Every nickel is important,” he said.

In the spring, the district whittled down a $3.1 million deficit to end the fiscal year with a surplus of about $1 million, Henderson said.

“But that’s after many, many cuts and budget adjustments,” he said.

This fiscal year, a $1.5 million deficit is projected.

“Any funding we receive will offset any deficit or be used in any way the board would decide to use it,” he said. “These are tough times right now.”

According to public notice of the sale, the system is selling:

• Lee Street Elementary. Minimum bid: $150,000 with occupancy after March 30, 2012.

The property has at least 10 classrooms, a library and cafeteria and has been closed for several years, Henderson said. It had most recently served as the site for the district’s alternative school, which is now housed at the former Bank Avenue Elementary.

• Former administrative offices on School Board Drive. Minimum bid: $1 million with occupancy after March 30, 2012.

The office building sits on nearly five acres at 418 School Board Drive on the old naval airbase. It houses special education personnel, maintenance and warehouse space.

Those services will move from the airbase into two new buildings under construction on board-owned property closer to the city’s center. The new construction is part of a $60 million capital improvement program funded by voters in 2009.

• Five acres on La. 83 that was the former site of Peebles Elementary School. Minimum bid: $100,000.

The school was demolished following Hurricane Rita in 2005.

“The school flooded terribly,” Henderson said. It took on about 4 feet of water.

A new school, Caneview Elementary, was constructed and accommodated students at both Peebles and Grand Marais Elementary schools, Henderson said.

The Port of Iberia is the property’s neighbor.

The minimum bids are based on the properties’ appraised values, Henderson said.

The bids will be opened at the School Board’s 5:30 p.m. meeting Wednesday.