Toronto District School Board trustees have approved a plan to look at possibly selling parcels of land on school property in order to raise money.

The plan was approved during a meeting Wednesday night with a fortchoming report to come back with areas from schools that could be severed and sold. 

Provincial rules state the money made from land sales could only pay for additions or upgrades to existing buildings. 

TDSB Chair Chris Bolton told John Tory on Newstalk1010's The Live Drive this isn't the only option on the table, but that there are 'huge possibilities' within the board to make money on huge parcels of land.

(With files from Russ Courtney)