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EDA approves lease termination and deed in lieu for Green Isle Community School
Summary
The Economic Development Authority voted unanimously to terminate the city's lease with Green Isle Community School and accept a deed in lieu of foreclosure, a pair of procedural steps intended to conclude the city's legal and financial obligations on the property.
The Economic Development Authority on Aug. 3 voted to terminate the city's lease with Green Isle Community School and to accept a deed in lieu of foreclosure that will transfer the former school property away from the city's ongoing obligations.
"Well, I will make a motion to approve then that resolution 2026 dash 28 terminating our lease with the Green Isle Community School," the Chair said when moving the termination resolution; Amy seconded the motion. The board then conducted a roll-call vote that the Chair announced as carried.
Members discussed that the lease termination is primarily a formality required before the deed in lieu can be finalized, and they asked city counsel to confirm whether any additional action is required at the council level. One member asked whether any city-owned items remained to be retrieved; staff said the building had already been cleared and there was nothing left to remove.
The deed-in-lieu resolution followed immediately. After questions about property contents and counsel's next steps, the board again voted and the Chair announced the motion carried.
