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Washington County board approves land contract sale of former UWM campus to Faith Ridge Christian School
Summary
The Washington County Board voted unanimously July 21 to endorse a land contract selling the former UWM Washington County campus to Ozaukee Christian School, doing business as Faith Ridge Christian School, allowing immediate occupancy while the buyer secures long-term financing.
The Washington County Board of Supervisors on July 21 approved a resolution endorsing a land contract to sell the former UWM Washington County campus to Ozaukee Christian School, now operating as Faith Ridge Christian School, enabling the buyer to take possession immediately while completing permanent financing.
Brad Stern, the county attorney handling the transaction, said the parties agreed on a $3,000,000 purchase price in April and structured the sale so the county retains legal title as security while the buyer receives equitable title and possession. "The county's principal objective as we were negotiating this particular deal was to enable OCS to take possession of the building as soon as possible, so that they could get into the building and get it ready for the fall semester," Stern said.
Under the land contract, the buyer will pay a $300,000 down payment at execution and finance $2,700,000 with interest amortized over 20 years and a balloon payment due no later than 06/30/2031. Stern said interest will track the five-year U.S. Treasury and reset annually; "as we sit here tonight, I checked that's 4.33%." He estimated monthly payments at about $16,500, with roughly $9,180 in interest and about $7,318 applying to principal at that rate.
Several supervisors raised concerns about risk. Supervisor Gallitz said he was surprised by the approach and worried the county could be left holding the property if the buyer defaulted. "Now we're saying that we could potentially still see this over 5 years or longer, or they could even default in a year from now," Gallitz said. Stern and other supervisors responded that the contract preserves county protections — the county keeps title, receives interest and principal payments and retains remedies such as acceleration and strict foreclosure — and that buyer improvements would accrue to county benefit in the event of reversion.
The resolution as amended also acknowledged a lease-termination agreement executed with the University on 07/21/2026 to clear title issues for closing. After brief discussion and a friendly amendment to incorporate that termination language, the board voted by voice and the measure "passes unanimously." The board set its next meeting for August 12, 2026.
