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Board says planned 901 Tower Way purchase terminated after low appraisal
Summary
Board member Nathan Paugh told the Heartland Charter School Board the planned purchase of 901 Tower Way was terminated when the property appraisal came in below the offer; escrow was returned to the school.
Nathan Paugh, board member and ad hoc finance committee member, reported that the school's planned purchase of 901 Tower Way was terminated after the property appraisal came in lower than the offering price. As a result, the escrow deposit was returned to Heartland Charter School.
Paugh presented the update as information only; no action was taken on the purchase. Board members did not move or second any follow-up motion during the meeting. The item was listed as an informational update on the special meeting agenda.
