Minot, N.D. – According to the statement, the district would pay $750,000 for the property and ReliaStar will give a check to the school district for $150,000.
The district will provide ReliaStar with a letter indicating it has made a gift to the school district and ReliaStar will be able to get a tax break for the charitable donation.
The school board gave approval to the agreement at its meeting on Thursday.
A school bond issue approved several years ago paid for construction of John Hoeven Elementary and additions at other elementaries but there is still overcrowding at the middle schools and high schools in town.
The district will also hold public forums to get input and to field questions about district’s future plans.
The newly acquired Reliastar property will provide the additional space needed for such things as athletic fields.
