School District Approved Sale of the Summit School Property to Nether Providence Township
The Board of School Directors of the Wallingford-Swarthmore School District has approved an Agreement of Sale for the Summit School Property on Plush Mill Road with Nether Providence Township.
The motion was approved at the Tuesday, January 19th meeting of the Board of School Directors and follows action taken by the Nether Providence Township Commissioners at a public meeting on December 18, 2015. All the terms of the sale which include a sales price of $925,000 are available in the District Office.
The School District first formally announced its intent to market the property back in May of 2015, with the goal of translating the property into a financial asset. The interest shown by Nether Providence Township as a prospective buyer of the property has been viewed very positively as it allows for a sales agreement with no contingences, and the potential of the continued long-standing community use of the property, a priority expressed by a number of residents who have attended public meetings of both the Board of School Directors and the Township Commissioners.
The Board of School Directors would like to express their thanks to the Township, to the brokers (Jones, Lang, and LaSalle), as well as to the other bidders who expressed interest in the property and to all of the community members who have shared their opinions on the sale of the property over the last year. Consistent with state law, the proceeds from the expected sale can be used only for certain limited purposes, including assisting in funding facilities projects and easing the debt service property tax burden on residents.