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District reports offer to buy Marshall site; staff say demolition costs may dwarf purchase price
Summary
At the workshop district presenters described an offer from Pulte Builders to buy the Marshall property for $500,000 and to assume demolition costs; staff said demolition could exceed $3 million and that potential Brownfield grant money could contribute to cleanup, but city permits and Brownfield grant awards remained unresolved.
District presenters told the Board of Education they have two offers on the Marshall property and plan to move forward with the offer from Pulte Builders, subject to normal closing conditions and city permitting.
The district said Pulte’s offer would pay $500,000 for the site and that the builder would pay demolition costs, which staff estimated could be in excess of $3 million to $3.5 million. Staff described potentially receiving Brownfield-related funding that could boost the net proceeds to the district; the presenter said the developer would apply for a Brownfield-type grant and the district might receive roughly half of any award the…
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