Representatives from Traverse City Area Public Schools (TCAPS) and the Old Mission Peninsula Education Foundation (OMPEF) have reached a tentative purchase agreement for the sale of the Old Mission Peninsula School building. The tentative purchase agreement includes a sale price of $1.1 million, agreed upon building contents, and a transfer date of July 1, 2018.
The agreement was reached after weeks of negotiations as OMPEF increased its original offer of $750,000 to $1 million. TCAPS countered with a ballpark figure of $1.25-$1.5 million.
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“We believe we were able to reach a sale price and purchase agreement for the Old Mission Peninsula School building that is in the best interest of the school district and the region’s taxpayers,” said Erik Falconer, President of the TCAPS Board of Education and member of the negotiating team. “We are grateful for the hard work and dedication of the OMPEF members and we will now take the tentative purchase agreement to the full Board of Education as a recommendation for their consideration.”
Allison O’Keefe, President of the Old Mission Peninsula Education Foundation, said, “We are pleased to have reached a tentative agreement to purchase the Old Mission Peninsula School building. Through the dedication and generosity of our community, we now have the opportunity to purchase a building that we believe is a valuable asset and will allow us to continue offering educational opportunities on Old Mission Peninsula.”
The purchase agreement includes TCAPS continuing to provide educational services to OMPS through June 2018. The building will fall under the umbrella of TCAPS during this time. The TCAPS board voted recently to redistrict OMPS effective Fall 2018, at which time OMPS students would have attended the newly remodeled Eastern Elementary School beginning that September.
The tentative purchase agreement will now go to the full TCAPS Board of Education for discussion. The Board of Education’s next meeting will be held on Monday, January 23, 2017, beginning at 6:00 p.m. at the Tompkins Boardman Administration Center, 412 Webster Street in Traverse City.