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ISD 191 approves $3.5 million sale of River Hills outlot to M/I Homes; work session set to discuss use of proceeds
Summary
The board approved a purchase agreement to sell Outlot A at 2801 River Hills Drive to M/I Homes of Minneapolis/St. Paul for $3.5 million and scheduled a work session to discuss uses of excess funds from multiple property sales.
The ISD 191 School Board voted unanimously Oct. 24 to approve a purchase agreement conveying Outlot A, River Hills 2nd Addition (2801 River Hills Drive, PID 02-64101-00-010) to M/I Homes of Minneapolis/St. Paul, LLC for $3,500,000.00. Director Werb moved the motion and Director Hume seconded; the motion carried 6–0.
The resolution authorizes district staff and officials to take steps necessary to perform the district’s obligations under the purchase agreement, including executing conveyance documents. The minutes record that the board will hold a work session to discuss options for using excess funds from sales of the Diamondhead outlot, Metcalf Middle School and Sioux Trail Elementary School.
