Agenda Item #25
Release of Reversionary Interest on Melbourne Property
At their meeting on April 14, 2015, the School Board accepted an offer of $350,000 from the Brevard Regional Arts Group (BRAG) to compensate the School Board for releasing its reversionary interest on a portion of land formerly owned by the School Board for (old) Melbourne Elementary and High Schools, now owned by BRAG, and directed the School Board Attorney to finalize an agreement with BRAG.
The School Board Attorney has reviewed and approved the form of the attached Agreement.
A sketch of the legal description on Exhibit B, showing the approximate area of the property upon which the reversionary interest will be released is attached for reference only.
Approve the agreement between the Brevard Regional Arts Group (BRAG) and the School Board.
Information - 2/10/2015
Consent after Information5/12/2015
Authority for Action
Involves Expenditure of Funds Directly in the Classroom
Source of Funding
Agenda Item will not Require the Expenditure of Funds
Dane Theodore, Assistant Superintendent /Facilities Services, 633-1000 x450
Attachment: BRAG Agreement 5-4-15.pdf
Attachment: BRAG - Exhibit B Sketch.pdf