Just last week, we checked in with Kevin Wooley of the Fauntleroy Community Service Agency for this update on the longrunning talks to buy the Fauntleroy Schoolhouse and some or all of its land from Seattle Public Schools, which put it up for sale as surplus property. Tonight, he just forwarded this announcement sent out by Kim Sheridan of Fauntleroy Children’s Center, which is based at the schoolhouse:
We are very pleased to announce that the Fauntleroy Community Service Agency has reached agreement with the Seattle School District on a term sheet for the purchase of the Fauntleroy School Building. The details of the term sheet were presented to the School Board Wednesday morning.
The purchase price for the school building and an additional 32,500 square feet in the existing paved parking lot and playground area is $1.825 million. We expect to secure the funding for the acquisition from a combination of City and State funds. The deal will close no later than August 31, 2009.
We have also agreed to continue discussions on an option to purchase the remaining playground space, as well an exploration of concepts for joint efforts for redevelopment of the back lot.
There are many steps still to come, but we wanted to take a moment and share this exciting news with you. Thank you for all your support.