Board approves sale of former Nurse Strand building, extends short-term lease and tech services for tenant charter school

The Faribault Public School District board approved multiple property and service actions related to the former Nurse Strand facility at its Oct. 27 meeting.

Barbie Raessler, director of business services, said the district reached a purchase agreement in which the buyer will purchase the property "as is" and assume most closing costs; the district would receive $1 under the purchase agreement. "They will pay for the majority of the closing cost," Raessler said, and the district would cover its attorney fees for title and closing work. She said Grace Lutheran's representative had already signed the agreement and the district's legal counsel prepared the documents.

The board voted to approve the purchase agreement. The chair called for the vote and members voiced approval; the chair announced the motion passed 7'00.

Because the sale timeline extends into November, the board also approved an extension of the short-term lease with the current tenant (Nurse Strand Charter School) covering September through November and a matching extension of district-provided technology services. Raessler said the extended lease will allow the charter school to provide documentation required to obtain state lease aid; the monthly rent remains $13,687.50 and would be prorated if the sale closes earlier in November.

Board members thanked staff for negotiating the transactions and noted the sale proceeds will help cover district needs, including bridging costs for a McKinley remodel until ALC sale proceeds are available.