School district works out deal to rent empty building - WNEM TV 5

School district works out deal to rent empty building

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SAGINAW, MI (WNEM) -

Saginaw school board trustee Rudy Patterson said the votes speak for themselves.

“Well there was a 7-0 vote and that's rare in our occasion,” Patterson said.

Wednesday night, the school board made the decision to allow Francis Reh Academy to lease the former Buena Vista Phoenix building.

The school board made the change after Francis Reh's attorney told the board the academy no longer had the funds to purchase the building outright.

“We've gained some ground,” Patterson said.

Saginaw Schools have had problems with large deficits in the past. But this year, the budget comes in with a $1.9 million surplus.

So what impact will the change in this deal have on the financial stability of the district?

Patterson said whether Frances Reh moves in or not, the district is staying afloat.

“But the $3.5 million would have been an extra cushion. We could use it,” Patterson said.

Francis Reh still plans to buy the building. In fact, their lease deal is for only two months.

They will pay the district $10,000 a month and hope to have the necessary funds to buy the building after that.

Patterson said he has no reason to believe Francis Reh won't come through to eventually purchase this building. In fact, they've already started some renovations.

“I don't think they'd put money into a building if they didn't feel secure they could come through with the loan,” Patterson said.

Saginaw Superintendent Nate McClain said the decision made last night is great for the district, and the $3.5 million will be put to good use.

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