The purchase of Emerson School by the Mystic Valley Regional Charter School took another step forward Tuesday night, when the city's public property committee approved moving forward with the deal.
The purchase agreement will be drafted by the city solicitor and awaits approval by the full council next Tuesday.
The $1.3 million dollar acquisition will allow the school to hold high school classes for a growing student population, a letter of interest read.
As the school would not be required to pay taxes on the property, the proposal included a number of other offers from the school, including upkeep of the nearby World War II memorial, some use availability for city events and a monthly gallery night featuring local artists.
The offer also includes $10,000 a year for ten years to the ward council fund for ward improvements and use. The schoool said they would drop the tax abatement on their Eastern Ave. property, at a cost of about $100,000.
In total, the additional offers were estimated to cost just under $300,000.
Another proposal, submitted by Boston-based Pizzuti Developments, would've purchased the property for $800,000 and converted the site into condos.
What do you think of the proposed purchase of Emerson School?