ALGONA | The Algona School Board is expected to finish the sale of the Titonka school building to the city of Titonka on Jan. 12.
A public hearing will be held prior to the 7:30 p.m. School Board meeting.
The two groups began discussing the future of the building in mid-2014, after public planning decisions had been made for the building.
The city approved the purchase in December after working out funding to take over the building. As part of the move, Titonka plans to sell its City Hall to a private citizen.
The building will be sold for $1. If approved, the sale will close on Jan. 14.
Terms of the sale are as follows:
• Beginning July 1, Algona Community Schools will lease parking space in the bus barn for two buses and one classroom for five years. Total cost for the lease is $10,000.
• Algona will either demolish the north section of the building by July 1, 2016, or repair the roof, depending on what Titonka wants done to the building.
• The school district will support redistricting Titonka to place Titonka Savings Bank and the school building in the same tax increment financing district.
• Algona will clean the building before Titonka takes ownership, creating a kitchen in the new part of the building using existing cupboards and new countertops.
• The district will patch the roof sections over the gym and east part of the building this summer. It will also repair ceiling tiles damaged by leaks in the east end of the school.
• Algona will remove a wall between two classrooms in the new section of the building and install a folding wall.
Because a portion of the property was constructed with $2.1 million in general obligation school bonds, Titonka will use that portion for a governmental purpose until bonds are paid in full in 2027.