Sale of Former Rochester School Scheduled to Close in Late May
Rochester, MN (KROC-AM News) - The School Board voted Tuesday evening to approve a sixth amendment to the original purchase agreement for the sale of the former Golden Hill School property in southeast Rochester.
The Ryan Companies originally agreed to pay $1.8 million dollars for the site in September 2015 with a closing date on the sale expected during the first few months of 2015. The previous amendments to that agreement pushed back the closing date several times and lowered the purchase price by $100,000.
The amendment approved last night extended the closing date by another, to late May, and clarifies the school district is responsible for removing an underground fuel tank from the property.
The Ryan Companies has long planned to build a retail center at the site and reports indicate those plans include removing the large hill at the south end of the property that separate it from the South Walmart property.