It appears the purchase of the former Keys School is a done deal.
While there has been no official confirmation that the transaction is complete, a report to the county’s development and property committee last week notes that the Renfrew County District School Board has accepted the “revised terms and conditions” outlined in the “agreement of purchase and sale” for Keys.
Director Jason Davis says in his report that the revised terms were approved with “one additional item,” a “first right of refusal” to buy back the property for the purchase price of $299,000 “on a date agreed upon by both parties.”
“This agreement signifies the mutual consent of all involved parties to proceed with the transaction, ensuring that all stipulated provisions have been reviewed and agreed upon,” Davis says.
“The acceptance marks a pivotal step in finalizing the transfer of ownership, aligning with the board’s commitment to effective and transparent asset management.”
Deep River council approved the purchase of the former Keys School property back in September, despite concerns from two of its members that the decision could saddle the town with a white elephant…
- For the full story, pick up a copy of this week’s NRT.
The NRT website offers just a sample of what you’ll find inside each week’s issue. To get the full NRT delivered directly to your mail box or inbox each week, subscribe to our print or digital editions here.
