Mt. Vernon Register-News

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June 19, 2013

MVTHS weighs purchase offers

MT. VERNON – Mt. Vernon Township High School is now considering three offers to buy portions of its campus.

Only one of those offers has reached the stage where a cost figure has been announced. That is the offer to purchase the parking areas adjacent to Building G for $300,000.

In addition to this offer, though, school officials are also in talks with another potential buyer for the remainder of the campus. There is also a third preliminary offer to buy district-owned lots just north of the campus.

“There could be interest in the entire campus or portions of it, depending on how it works out,” said Superintendent Michael Smith. “We're always hopeful that someone would find a good use for the campus. It's served the public well for over 100 years.”

The MVTHS Board of Education discussed these offers in closed session at Monday night's meeting. No actions resulted from the session.

The offer to purchase the entire remainder of the campus is in the very early stages, Smith said. For the offer to buy the adjacent lots, the district has been asked to come back to the buyer with a cost amount.

School officials are not disclosing the identities of the potential buyers.

The district intends to sell some or all of its buildings on campus to help pay for the $72.8 million new school project. A recent appraisal of the MVTHS campus put its value at $6.166 million.

While none of the offers have been finalized, it bodes well for selling the campus that there is already this much interest, said board vice president Karen Goodwine.

Money made by the district from selling parts of the campus will be matched by the state at a 2-to-1 ratio, to go toward the new building project, Goodwine said. So, for example, if the Building G parking areas were sold for $300,000, that would become $900,000 with the state's match.

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