Representatives from a local organization have expressed interest in purchasing Monroe Early Childhood Center.
The Cedar Rapids School Board met in closed session to hear details of a proposal that would transfer ownership of the building, located at 3200 Pioneer Ave. SE, Cedar Rapids from the Cedar Rapids Community School District.
Board President Mary Meisterling declined to comment in detail about the discussion so as not to influence the potential transaction.
“To date, we don’t have a purchase agreement. We hope that our real estate agent will continue to work with folks and hope to get something generated within the next 60 to 90 days, if there is one to generate,” she said Monday. “Expressing interest and producing a purchase agreement are two different things.”
According to documents provided by district real estate representative Scott Olson, the lot is 7.69 acres, the building has an area of 27,175 square feet and has an appraised value of $897,000. The school board voted in 2012 to close both Monroe and Polk Elementary School, which the district transformed into Polk Alternative Education Center.
Olson also declined to share the dollar amount in the proposal. Likewise, he opted not to share the name of the organization behind the proposal. Olson confirmed that it is a local entity and that the offer came from either the nonprofit, church or elderly residential facility which had representatives tour the building.
Olson said he is in the process of getting the proposal turned into a purchasing agreement. If things go smoothly, Olson forecast a public hearing on the sale could occur as soon as April with a sale scheduled for mid-to-late summer pending board approval.
“This is a good proposal. It’s a fair price and it’s good for the neighborhood,” Olson said. “We’re just waiting for the documents and then it goes through the public hearing and votes.”