PERMITTEES PURCHASE FORMER SCHOOL SITE

After several negotiations we have opened escrow for the Old Pinecrest School Site off Hwy 108. It is the hope of the Board that this will provide a staging area close to our operations for staff, material and equipment. Additionally our employees, Dodge Ridge employees, Strawberry residents and USFS personnel have been required to provide transportation for their children to Sonora daily for school. We will be working with a charter school provider to make K-8 locally available. It is anticipated that the Charter School will pay rent to the PPA. The Board began consideration of this site for purchase last Fall and determined this was affordable under the conditions of seller financing and could serve our purposes very well. The discussion points seemed to favor the purchase. Our commitment was for $412,000 over several years as follows; $12,000 Earnest Money upon Acceptance of our offer, a $50,000 Payment on Closing, a $50,000 in February 2018, 2019, 2020 and 2021 with a final payment of $150,000 in February of 2022 without interest. The actual PURCHASE AGREEMENT & PROMISSORY NOTE can be found in the FILES section [log-in required].