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School board approves purchase of 9.9-acre parcel near Kelly Smith; appraisal came in below price
Summary
The Putnam County School Board approved a contract to buy a 9.9-acre property on Round Lake Road adjacent to Kelly Smith school, adding acreage to district holdings and enabling options for future school construction and phased work. The board discussed appraisal and inspection contingencies and approved a due-diligence extension option.
The Putnam County School Board voted unanimously to approve a purchase contract for a 9.9-acre parcel on Round Lake Road adjacent to Kelly Smith school, a move district staff said will expand available land for future school construction and site planning.
Board member Thomas Buckles (motion) brought the item forward, asking the board to approve the contract as presented. Counsel explained the purchase addendum originally made the contract contingent on an appraisal that valued the land at or above the purchase price; the appraisal has now been completed and came in slightly below the contract price. Board counsel told members the board has authority to approve the purchase but that a supermajority is required in the event of an appraisal shortfall.
Board attorney Don Holmes described the contractual addendum: "The addendum in the contract contemplated that we might not have an appraisal back ... the addendum basically ... provides that ... the school board's obligation would be contingent upon an appraiser appraising the property and coming back with a value that was in excess of the purchase price." Holmes told the board the appraisal is now in and staff recommended eliminating the contingency and proceeding.
Board members and staff discussed site conditions and due diligence. A district land-use planner and engineer reported preliminary checks on soils, hydrology and wetlands showed no significant barriers and that elevations were higher than the existing school site. Staff described an inspection/due-diligence timeline: a 60-day inspection period with an option, at the board's discretion, to extend for an additional 30 days to allow time for required reports, giving a potential 90-day total due-diligence window.
District staff noted the purchase adds to previously acquired acreage; with recent buys the district said total holdings near the Kelly Smith site approach roughly 30 acres in the area (the new parcel is 9.9 acres; an earlier adjacent purchase was about 5.5 acres). Board members said the added land could allow phased construction that would reduce the need to relocate students in a single year, though staff said keeping parts of an existing building in service during construction could still complicate phasing.
After discussion the board called for the question and approved the contract; staff said inspections and final reports will continue during the due-diligence period and the addendum preserves the board's option to extend inspections if needed.
