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Board approves resolution and purchase agreement to sell Sixth Street Elementary to Western New Mexico University for $1.4 million
Summary
The board approved a jointly drafted resolution and a purchase agreement with Western New Mexico University to sell the Sixth Street Elementary property (approximately 3.12 acres) for a negotiated price of $1,400,000, contingent on required state approvals.
Board members read and discussed a jointly drafted resolution transferring the Sixth Street Elementary property at 405 West 6th Street in Silver City to Western New Mexico University (WNMU). The resolution, as read to the board, states the property comprises about 3.12 acres across four adjacent parcels and that the negotiated purchase price is $1,400,000 plus reasonable and necessary associated costs.
The resolution asserts both entities’ statutory authority to buy and sell property (read references included NMSA citations as part of the resolution language) and makes the sale contingent on approvals from the New Mexico State Board of Finance and the New Mexico Higher Education Department. The district would convey the property by quitclaim deed after the required state approvals.
Board members discussed the agreement text, and the board moved and approved the WNMU resolution and then the associated purchase agreement in separate motions. Each measure passed on a voice roll call.
Next steps: District officers were authorized to sign the purchase and sale agreement and modest nonsubstantive amendments as needed to complete processing, subject to the noted state approvals. The transaction remains contingent on those external approvals and customary closing steps.
