At its May 18, 2010 meeting, the School Board approved a contract to exchange property, including an additional payment of $10,000.00, at the intersection of Orange Avenue and 35th Street.  The transaction was necessary as part of the Booker High School rebuild in order to save the project considerable costs and to improve the bus loop and parking for the theatre.  Staff had already successfully negotiated the contract with the willing owner.

Subsequently, the transaction could not be closed due to complications with the subject parcels.  Those details have since been resolved, and the transaction remains the best option to acquiring the necessary property.  The attached contract rescinds the prior contract and increases the payment to $15,091.13.