IRVINE

Irvine Unified School District trustees voted Monday to pay $10.75 million to the Irvine Co. for a 10-acre school site in Oak Creek, the city’s newest village.

The contract still has to be reviewed by lawyers, but the district hopes to open escrow this month, Deputy Supt. Paul Reed said. The district raised the money this spring with the sale of $20 million in bonds. Since 1986, the district has sold $115 million in bonds, Reed said.

Oak Creek Elementary School will serve the village’s 2,000 homes, more than half of which already are built. Oak Creek children now attend Los Naranjos School.

The school will be built on Dovecreek, adjacent to a future neighborhood park in Oak Creek. The land already has utilities such as water, gas, electricity, cable television and telephone lines in place.