The newly christened Gilroy Gardens is for sale - provided the buyer is the city of Gilroy.

The price? Just $12.6 million to retire the debt on the 530 acres that include the park formerly known as Bonfante Gardens. At a time when land in Silicon Valley sells for several million an acre, it's a steal.

"It's an amazing deal for our city," said Gilroy City Councilman Dion Bracco, who also is the city's representative on the non-profit board that governs Gilroy Gardens. "To buy what's out there for as little as $12 million is just good business sense."