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Controlling Board approves University of Akron sale of Quaker Square after lawmakers press for details on price, maintenance and bonds
Summary
The State Controlling Board on April 7 approved the University of Akron’s plan to sell the Quaker Square property, after board members pressed state officials for details about the university’s 2007 purchase price, estimated deferred maintenance and how outstanding bond obligations will be satisfied.
The State Controlling Board on April 7 approved the University of Akron’s plan to sell the Quaker Square property, after board members pressed state officials for details about the university’s 2007 purchase price, estimated deferred maintenance and how outstanding bond obligations will be satisfied.
Board President Schueller called the item and members approved it without recorded objection. Senator Wilkin and other members questioned why a property bought in February 2007 for $22,700,000 is being marketed now at a price that officials described in the meeting as $800,000.
“So we paid $22,700,000 and we are now gonna turn around and sell this for $800,000,” Senator Wilkin said during…
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