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Board authorizes due diligence and purchase agreement for adjacent 812 Main Street property
Summary
The board approved a resolution authorizing staff to execute a purchase agreement and advance due diligence to acquire the property at 812 Main Street for $1,128,000 to secure access and building systems for the district's 804 Main Street facility.
The Batavia USD 101 Board of Education voted to authorize the superintendent or designee to execute a purchase agreement and advance due diligence on the adjacent property at 812 Main Street, Batavia, for a purchase price of $1,128,000, Treasurer Tony told the board during the item presentation. "We recommend that the board acquire or at least give us authorization to do a purchase agreement and due diligence to acquire 812 Main Street for a total amount of $1,128,000," Tony said.
Staff described functional reasons for the acquisition: the properties historically operated as one facility, access and traffic flow are intertwined, sprinkler feed water for 804 passes through the 812 parcel, and the district currently leases portions of 812 for storage. Those operational linkages were cited as reasons the properties are effectively inseparable for the district's operational needs.
Board members discussed valuation and timing in closed session prior to the vote. During open session a board member summarized that the parcel had recently been appraised at a value a little over $1.4 million and the negotiated purchase price is below that appraisal; the board then moved to vote.
The motion to adopt the resolution was moved by Raquel and seconded by Katie. Cindy led a roll-call vote; all members present voted in favor and the motion passed.
Ending: The authorization allows the superintendent or designee to advance legal, financial and environmental review as part of due diligence; final acquisition will depend on results of that review and the closing of the purchase agreement.
