School board accepts $2 million offer for central warehouse, rejects owner‑financing option

Ocala — The Marion County School Board on June 10 approved an amendment to the purchase and sale agreement for a downtown central warehouse property, accepting a reduced all‑cash purchase price of $2,000,000 rather than pursuing an owner‑financing option.

Mr. McGraw presented two potential amendment paths: one that would have the school board provide seller financing for a portion of the purchase price, and a second that would accept a lower all‑cash purchase price and close immediately under the original contract schedule. “From the standpoint, we do have 2 potential amendments on the table ... one is to provide owner financing at an increased price, and the other is to keep it an all cash deal, no contingencies, and to immediately close pursuant to the contract at the reduced price of $2,000,000,” Mr. McGraw said.

Interim superintendent Jeremy Powers told the board the owner‑financing option would be difficult to structure and would not provide immediate liquid funds, making it less viable. Doctor Lisonbee Campbell, who supported the cash sale, said the property has been vacant and depreciating and noted community interest in concluding the transaction. After discussion and clarification of which option was before the board, members voted to accept the reduced‑price, all‑cash option by voice vote; the record shows the motion passed 3–0.

Board members also discussed next steps for the funds once received. Campbell suggested earmarking the $2,000,000 for a new district data center to advance an ongoing project; she recommended the board consider that designation in an upcoming work session. No formal earmark or policy change was adopted at the June 10 meeting.

Logistics for signing the addendum were discussed with the purchaser’s representative; staff agreed to execute the documentation the following morning.