7240 - SITE ACQUISITION

It is the policy of the Governing Board that real property acquisition price be based on a true value with regard for fair remuneration to the seller but not on enhancement of the value of the site to the seller. The presence of a school to service a potential development in itself enhances the profit potential to a developer. It is the Governing Board’s sole purpose to provide a service to the residents in a development at the least possible cost to the taxpayers.

The Superintendent shall be responsible for site acquisition negotiations. Negotiations for site acquisition shall take into consideration the following:

1. Purchase price shall be based on the last transaction price, taxes on the property after platting, and a reasonable interest earning on the investment based on the current cost of money.
2. Roadways and utility costs to be shared shall be calculated on a front footage basis of the proposed site and shall be included only where actual installation has occurred.
3. Development costs as engineering, earthmoving, litigation, etc. in determining the fair value of the site to be purchased.

© Neola 2009