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Dubuque schools to buy Keystone AEA building for $1.9 million; board approves installment purchase and lease-back plan
Summary
The board approved conditional installment terms and final purchase of the Keystone Area Education Agency building attached to the Forum for $1.9 million, with half paid July 1 and the remainder to be placed in escrow and paid in July 2027; the district plans to use space for online programs and lease portions back to the AEA.
The Dubuque Community School District Board of Education on June 8 approved a conditional installment contract and then the purchase of the Keystone Area Education Agency (AEA) building adjacent to the district forum for $1.9 million.
Superintendent Amy Hawkins described the offer as a first-refusal opportunity and said district staff will pay half of the purchase price on July 1 and place the other half into escrow to be paid in July 2027 to accommodate the AEA’s funding cycle. Hawkins said the district will use the building for its online school, staff needs and re-engagement programming, and plans to lease space back to the AEA under a long-term lease to allow the agency to continue serving Dubuque County.
Hawkins told the board the district “will be bringing that agreement to you prior to the July 1st purchase agreement date,” including a lease proposal anticipated to run up to 20 years. The board discussed the procedural conflict of interest that can arise when a director serves on both boards; one board member noted they would abstain from the vote for that reason. The board approved the conditional installment contract and then approved the purchase of the property for $1.9 million.
The sale increases district-owned property to roughly 17 acres when combined with existing facilities. Hawkins said the district will fund the purchase with SAVE (one-cent) sales-tax dollars. The district also indicated it will present final lease terms to the board before completing the transaction.
