Bemidji School Board OKs offer to buy ByLAW building
The Bemidji Area Schools Board of Education approved an offer from the Northwest Opportunities Center to buy the old ByLAW/Community Education building for $230,000.
The offer for the building, located at 1420 Beltrami Avenue, is for $30,000 down and a contract for deed for $200,000 at 5 percent with a balloon payment after seven years. Closing will occur on March 1.
According to a preliminary audit summary written by Bemidji Schools' Director of Business Services Chris Leinen, the sale of property will bring the overall district deficit spending down. General Fund expenses exceeded revenues by $725,619.23. The sale of the property brought the overall deficit down to $660,759.44.