The Storm Lake School Board on Wednesday approved the asset purchase agreement for the AEA Building on Flindt Drive, which is a step to finalize the deal.
The board authorized the one-million dollar purchase of the building two months ago. The purchase is being made with Elementary and Secondary School Emergency Relief Funds, also known as ESSER.
The closing date for the deal will be on or before November 10th of this year. Superintendent Stacey Cole previously said that the current tenants will remain in the AEA building through June of 2024.
The board also approved the transfer of 81-thousand dollars in ESSER money from the General Fund to the Activity Fund.
Superintendent Cole said a lot of math has been done behind the scenes for the last year. She said the transfer will help with all activities to be sure that the district can continue to provide for students. The transfer will be completed before the end of this month.
