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The South Adams Schools Corporation intends to take another stab at selling the former elementary school property located across from the Muensterberg Plaza and Clock Tower in Berne.
School board members, with guidance from attorney Tim Baker, have taken the necessary steps to move forward with another open bidding process by averaging two new appraisals, using the same appraisers as before, and by determining terms and conditions for the sale of the property.
The South Adams Schools Corporation will accept bids on the property from January 31 through March 30, according to a resolution that was passed at Tuesday's school board meeting.
The school corporation is seeking at least 90 percent of the average appraised value of $693,000. Last year, the property appraised for $721,000, and Steve Kreigh of GKB Enterprises made an offer of $650,000, contingent upon a lease being signed with CVS Corporation. That offer fell through when CVS indicated its relocation was no longer a priority.
Superintendent Scott Litwiller announced at last month's school board meeting that a national development company had expressed an interest and intent to purchase the property. The potential buyer, however, has chosen to remain anonymous.
At Tuesday's meeting, Baker said that most of the bid specifications are the same as the last time the school corporation attempted to sell the property. School board members may still reserve the right to reject any and all bids or to move to an auction at any time during the process as long as bidders have received written notice of this change.
Other specifications outlined by the school corporation for the sale of the property include allowing the bidder to stipulate conditions that are prerequisite to purchasing the property.
Baker noted that board members may choose to accept a bid and move forward with a sale at any time during the open bidding process as long as a public hearing is held and notice is given to all bidders. However, Baker also noted that the state law has changed since the schools' attempt to sell the property last year.
According to Baker, if after 60 days, there are no bids or the school corporation rejects all of the bids, it may then choose to list the property privately and sell it through a broker. If board members choose to accept a bid in fewer than 60 days into the open bidding process and for some reason the sale falls through, they would not have that option and would have to go through the open bidding process again.
Closing is to be held on or before June 1, unless both parties agree otherwise.