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School board approves $1.3 million purchase of neighboring property at 355 N. Morton St.
Summary
The Franklin Community School Corp board voted to buy the adjacent property at 355 N. Morton St. for $1.3 million to prevent development that could activate a recorded easement through campus parking, centralize district services, and allow demolition and site remediation; funds come from restricted rainy-day reserves.
The Franklin Community School Corp board voted to buy the adjacent property at 355 North Morton Street for $1.3 million, resolving a potential campus vulnerability tied to a recorded easement and creating space for district operations, officials said.
Dr. C. recommended the purchase, saying the property ties into the north end of campus and that owning it would prevent a private owner from using an existing easement that runs through district parking. "If we do get a neighbor in there that invokes that, that would be a very difficult thing for us," Dr. C. said, urging the board to move forward with the acquisition and planned demolition of the on-site buildings.
Mr. Young, who briefed the board on legal and title matters, said the owner would accept $1.3 million net and that a title search found no clouds on title other than the recorded easement. "The property owner has indicated that he will accept the sum of $1.3 million net and provide us with a general warranty deed conveying the real estate to Franklin Community School Corporation," Mr. Young said, adding the offer would be contingent on clear title and an agreed closing date. He recommended the district not act as a long-term landlord and encouraged coordinating possession to ensure the buildings are vacated at or shortly after closing.
Board members discussed logistics and timing for demolition and for addressing known environmental issues on site. The district confirmed there is asbestos in the buildings (reported to be on the second floor) and that demolition will include required mitigation; the board said the facilities team will issue an RFP for demolition that accounts for asbestos abatement.
The board moved and seconded the purchase motion and approved it by voice vote. Meeting discussion noted the district will use restricted rainy-day funds set aside for property purchases; Mr. Young said those funds are restricted for that purpose. No specific closing date was announced at the meeting.
Next steps include finalizing purchase paperwork, coordinating a possession/closing date that accommodates current tenants, issuing a demolition RFP that includes asbestos mitigation, and returning to the board with closing details and timeline.
