Saranac Central School is closing in on a deal to sell one of its former elementary schools.
A developer wants to purchase the former Cadyville Elementary School for $400,000 and possibly construct condominiums.
"The School Board passed a resolution to enter into a tentative agreement to sell Cadyville School," said Saranac Central School Superintendent Kenneth Cringle.
The deal should go through as is, he said, unless 10 percent (about 650) of eligible voters petition that a district vote must occur.
Saranac Central School District closed Cadyville and Dannemora elementary schools in July 2006 to contend with declining enrollment, reduce costs, maximize resources at its remaining buildings, create a middle school in Saranac and prevent further student transfers
In late 2008, the School Board approved trying to sell the two elementary schools and the District Office, which is located near the Dannemora building
Last September, the School Board unanimously approved a plan for the Village of Dannemora to purchase the former Dannemora Elementary School for $350,000 to use for village offices.
Saranac School officials say the sale would save the district money, and village representatives say they need the space.
This past January, voters approved the Village of Dannemora's request to purchase the former Elementary School.
The Cadyville property consists of 10.2 acres, a one-story brick school building, parking lot and playground.
It was listed with CDC Real Estate, and Fairsea, LLC d/b/a/ Marina Lighthouse offered to purchase it for $400,000.
"That is right in line with what it is assessed for," Cringle said. "It is a good deal."
On its end, the School Board passed a resolution approving the sale.
"This is a tentative agreement," Cringle pointed out. "It comes at a great time, but it is not definite yet, though it is certainly promising at this time."
He said condominiums are planned for the property.
BACK ON TAX ROLLS
The School District should know within 60 days whether it is going to close on the deal.
"This is certainly promising news for the future," Cringle said. "That school has been sitting idle for five years, it serves no purpose for the foreseeable future, and if it does sell, it will go on our tax rolls.
"We also have an agreement that we will be able to utilize the existing ball fields for a period of five years at no cost."
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