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Rowan County board approves three-year lease-purchase sale of old middle school to University of Kentucky
Summary
The board approved a three-year lease-to-purchase agreement to sell the district's old middle school property to the Commonwealth of Kentucky for the use and benefit of the University of Kentucky; the motion read a purchase sum of $6,402,400 and the agreement includes auction reversion if payments are not made.
The Rowan County Board of Education voted Dec. 16 to approve a real property lease-purchase agreement that would transfer the district's old middle school property to the Commonwealth of Kentucky for the use and benefit of the University of Kentucky's affiliated entities.
Speaker 4 described the arrangement as a three-year…
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