HARPSWELL — An agreement to sell the West Harpswell School to Harpswell Coastal Academy for $150,000 will be presented to voters at Town Meeting next month.
The Board of Selectmen, at their Feb. 12 meeting, approved preliminary language for the Town Meeting warrant that would authorize the sale of the building to the charter school.
The board postponed signing the agreement, however, because HCA’s board chairman, Joe Grady, was out of state and unavailable to attend the meeting.
The agreement was expected to be signed at the board’s Feb. 19 meeting.
According to the draft warrant article approved by selectmen, HCA would be credited $40,000 of the sale price for its existing lease payment to the town.
Town Administrator Kristi Eiane was reluctant to discuss details of the agreement until it is signed, but said HCA will pay $10,000 to the town at signing, while the remaining balance will be paid off in equal annual payments in lieu of taxes over the next 10 years.
Established in 2013, HCA is now in its second year of operation at West Harpswell School, off Route 123 on Harpswell Neck.
According to the town assessor’s office, the school building is valued at more than $993,000. Including nearly eight acres of land, the entire property is valued at more than $1.08 million.