Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
PONTIAC, Mich. (AP) — Most of Pontiac's vacant school buildings are being sold for $800,000.
The Pontiac Board of Education voted Monday to sell eight closed schools in two groups to Pontiac Investment LLC.
Board of Education President Karen Cain tells The Oakland Press (http://bit.ly/1BGr2SB ) that officials were informed that the buyer plans to develop residential housing. Cain says the district needed to sell the vacant schools to eliminate liability and return the properties to the tax rolls.
Many of Pontiac's closed schools are vandalized and fire-damaged.
Crofoot Elementary, Perdue Academy, McCarroll School and Jefferson/Whittier School were sold together for $500,000. Emerson Elementary, Longfellow Elementary, Washington Middle School and Webster Elementary were sold in a lot for $300,000.
The district has a consent agreement with the state to deal with a financial emergency.
___
Information from: The Oakland Press, http://www.theoaklandpress.com
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
