Fort Madison, IA – Fort Madison could soon be home to a boarding school for international students. The Fort Madison City Council approved the 2nd reading of an ordinance to rezone the old Jefferson Elementary School for business use. Wilshire Investments Group has agreed to pay $50,000 for the property, which will be used for the boarding school. Elaine Eschman is a local attorney representing the California-based company. She says that once the rezoning is approved, the sale can go through and renovations to the building can begin. Eschman says up to 300 students could eventually attend the boarding school. She says most of the kids will come from South Korea. The renovation project is expected to cost about $2,000,000. Eschman says this will be the company's first major investment in this region. The council must approve the rezoning one more time.