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Board authorizes Dr. Clendening to execute leases, move forward on property purchase at 355 N. Morton St.
Summary
The board approved lease agreements associated with the district’s pending purchase of 355 North Morton Street and authorized Superintendent Dr. Clendening to execute the leases and closing documents; two tenants (Lord's Cupboard and JW Lease) are expected to remain on-site under daily-rate leases through an October 1 target date.
Dr. Clendening reviewed an ongoing purchase and lease arrangement for property at 355 North Morton Street, explaining staff worked with legal counsel to finalize two lease agreements: one for Lord’s Cupboard and one for JW Lease. “As we take over the ownership of the property, they're going to stay in that for a period of time,” he said, and staff noted an October 1 target for tenant move-out while asking the board to authorize execution of documents so the closing could proceed without reconvening the board.
Board members asked for clarification about the closing date and were told staff had returned title issues to the title company and were working to solidify a closing date; the board moved, seconded and voted to authorize Dr. Clendening to execute the two leases and related closing documents. The motion passed by voice vote.
