July 20, 2019

Madison School Board approves purchase of nursing home land - Daily Leader Extra : Top Stories

default avatar
Welcome to the site! Login or Signup below.
Logout|My Dashboard

Madison School Board approves purchase of nursing home land

Font Size:
Default font size
Larger font size

Posted: Thursday, July 11, 2019 7:36 pm

The Madison School Board approved on Thursday a real-estate purchase agreement with Education Heights LLC to purchase a city block of land where a Madison senior-care center once operated.

The school board members approved paying Education Heights $150,000 as a down payment for Block 2 of Walker’s 1st Addition, a block of land located just south of the Madison Middle-High School complex. Madison Central School District will pay Education Heights an additional lump sum of $600,000 as full payment for the land. The total purchase price for the property is $750,000.

The school district plans to take possession of the property in April 2020.

The Madison School Board also approved a demolition agreement with Education Heights that would have the company remove all of the structures from the property. The school district will pay the company $50,000 up-front for the demolition and district officials have agreed to a payment plan to pay for the rest of the demolition expenses. The full cost of demolition on the property is estimated at $150,000.

For the remaining demolition costs, school officials have agreed to pay Education Heights $50,000 per month until all of the expenses are paid.

The school district plans to pay for the land purchase and demolition expenses with capital-outlay funds.