Regarding significant increase in property value, keep in mind that Lorne Way already channels into highly-ranked elementary and middle schools.
Currently, the schools for Lorne Way are:
Laurelwood Elementary (926),
Peterson Middle (863),
Wilcox High (777).
If Lorne Way did move into the Cupertino Union School District, it would become:
Eisenhower Elementary (931)
Hyde Middle (858)
Cupertino High (893)
Yes, Cupertino High is significantly higher in API than Wilcox High. However, the elementary and middle schools are roughly the same in API.
Of course, being in the Cupertino Union School District has the added benefit that just being in any of the schools in the district makes you eligible to apply for one of the four excellent specialty schools. Also, you can apply to any school in the district that has room. For instance, as I mentioned in one of my past posts, Regnart is an excellent elementary and used to have space available because not many people could afford to buy houses there and the school is farther away. If you didn't mind driving, you could send your kids there. However, I don't know about the situation now. Probably since I posted this nugget of information, lots of people applied to Regnart, so now it is full. :-)
The City Council and the School District are very separate entities.
Although funding for schools comes from City and County sources, the Schools Districts are independent .
As Terri pointed out, it's best to contact both the Santa Clara and Cupertino School District offices to see if any of the information you've heard is true. Please keep in mind that district lines, to my knowledge, are the purview of the School District's Board and not of the City Council, so while the Council can request it, only the School Districts affected can determine if they have capacity at this time to accept additional students.
When last I read the Cupertino School District news and website information, the School District is over full of students and is not accepting transfer students or, in some cases, even kindergartners in certain schools. Based solely on the comment the district has made public this past year, I don't think it likely that the district will agree to boundary changes at this time. Again, confirm that what the plans are with the District office on Monday.
As for housing prices, homes located on the very edge of a district border do not always receive an increase in value since the borders can be adjusted at any time to another school based on enrollment and this can be a concern for many buyers. Even if the Lorne Avenue properties are added to Cupertino USD, the adjustment in value, if any, would probably not occur for a couple of years--time enough for the school district boundaries to remain stable.
Area Pro Realty-People's Choice
Have an amazing day!