"Our loan has been approved to purchase the Liberty Campus," said Mary Northern, PIE treasurer and board member.
Closing is Aug. 22.
"They're moving Monday, Tuesday and Wednesday, and we should be right behind them," Northern
has a semi lined up to move, and with the excited parents, she
expects there'll be a large workforce out for the move.
had been working on a deal to buy the Sweet Home Elks Lodge
said, but "the bank wouldn't go for it."
The bank was concerned with the amount of construction that would be needed, she
The Liberty campus
will make the move much easier since it is already set up and ready to use as a school, she
"We got a school that's ready to go for $625,000," she
has taken out a $625,000 loan with a monthly payment of $5,300.
declined to further explain the details of the financing.
Sweet Home Charter School
will pay $75,000 per year in rent to PIE
for the facility, she
The rent will come out of the Charter School's
will use the rent to make the payment, with the excess rent funds held for building maintenance, she
The property, 28721 Liberty Road, is 6.78 acres with a real market value of $151,200 for the land and $732,000 for the building, which was built in 1945, a total of $883,200, according to Linn
County Assessor's Office records.
Asked about the potential for voters overturning taxes passed by the Legislature this year, Northern
assured the District 55 board that Sweet Home Charter
should be in good shape.
The Charter School
educates children for less than the district, and it always budgets conservatively, she
It had few issues last year while school districts were making cuts, she