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Redevelopment Commission approves transfer of former nursing school building to Ivy Tech
Summary
The Monroe County Redevelopment Commission voted 3-0 to transfer the former nursing school property to Ivy Tech Community College of Indiana; the deed includes a reversion restriction limiting future use to higher-education, workforce development or economic development by a nonprofit or state-chartered institution.
At a meeting of the Monroe County Redevelopment Commission, commissioners approved transferring the county-owned nursing school building to the trustees of Ivy Tech Community College of Indiana, voting 3-0.
The deed and related lease documents in the meeting packet include a surrender clause requiring that the property revert to Monroe County if it is not used for “educational training, workforce development, or economic development purposes” by a nonprofit corporation or a state-chartered higher-education institution. Commission members discussed the legal language in…
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