Douglas County School District extends the escrow deadline on Kingsbury Middle School sale
July 26, 2017
Monday is the deadline for escrow on the purchase of the old Kingsbury Middle School property, Douglas County School District trustees decided earlier this week.
Trustees extended the closure date during their special meeting July 24 at the Airport Training Center on an offer from Glenbrook-based Lake Parkway LLC to purchase the Kingsbury Middle School site at Stateline. The only item listed on the meeting agenda was to consider or deny the extension request.
More than two dozen people showed up for the meeting to express their disapproval of the zoning change to use the property for an affordable housing project.
"We have nothing to do with that," explained Tom Moore, board president. "We're just selling the property as is."
The school was open from 1976 until 2008, when it was closed due to declining enrollment.
The property was originally put up for sale in January 2012.
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The offer from Lake Parkway LLC was approved by the school board in July 2016. The total price was settled at $3.15 million after a negotiation in which the buyer agreed to share the property's ongoing utility costs.
In November, trustees approved a five-month due diligence period extension to allow the buyer more time to prepare for a traffic study on the property.
Trustees met to consider the extension after the July 12 deadline to close the deal was not met.
Moore said this is the final extension the board intends to grant.
"We will either finish closure of escrow or put it back on the market," Moore said, referring to the Monday deadline.