(Hillsboro) The Hillsboro R-3 School District has entered into a Purchase Sale Agreement to purchase property located at 100 Leon Hall Parkway and the adjoining 15 acres.
On the property is a home, and an outbuilding, which was previously owned by Diane Hall, former owner of Bridle Ridge Acres.
Superintendent Dr. Jon Isaacson says this is a great opportunity for the district to ensure that all property from the former Bridle Ridge to the high school was owned by the district for future growth.
He goes over the plans for the home that is on the property.
Dr. Isaacson explains how they will convert the home into the districts Alternative School.
The asking price on the property and home was $979,000.
The district made an offer of $825,000 and it was accepted by the estate.
The district will be using a Lease Purchase agreement over a 15 year period to pay for the property and home. The interest rate is 2.19%.