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Contingent on Grant Applications
Wed January 23, 2013
FM School Board Accepts Offer
It could be a few months before the sale of a vacant Fort Madison school is finalized.
The school board has accepted local developer Todd Schneider’s offer of $85,000 to purchase the former Fort Madison Middle School.
The deal is contingent, though, on Schneider receiving grant money to renovate the building for residential use.
Superintendent Ken Marang says the offer is in line with the estimated value of the former school.
“We had a market analysis on that particular building and it came in at about $100,000 or less,” says Marang. “Old buildings, they are what they are, usually they are difficult to make anything else without spending a lot of money.”
Marang says Schneider would also receive some mobile classrooms already on the property as part of the deal.
He says some items, including commemorative rocks and benches, will be removed before the sale is finalized.
The former middle school has sat vacant for several months.
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Public Hearing Jan. 7
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