Most vacant school buildings in Pontiac being sold for $800K

PONTIAC, Mich. (AP) - Most of Pontiac’s vacant school buildings are being sold for $800,000.

The Pontiac Board of Education voted Monday to sell eight closed schools in two groups to Pontiac Investment LLC.

Board of Education President Karen Cain tells The Oakland Press (https://bit.ly/1BGr2SB ) that officials were informed that the buyer plans to develop residential housing. Cain says the district needed to sell the vacant schools to eliminate liability and return the properties to the tax rolls.

Many of Pontiac’s closed schools are vandalized and fire-damaged.

Crofoot Elementary, Perdue Academy, McCarroll School and Jefferson/Whittier School were sold together for $500,000. Emerson Elementary, Longfellow Elementary, Washington Middle School and Webster Elementary were sold in a lot for $300,000.

The district has a consent agreement with the state to deal with a financial emergency.

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Information from: The Oakland Press, https://www.theoaklandpress.com