District 227 to buy office building

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Updated: August 4, 2011 4:20PM

Rich Township High School District 227 will purchase a building in Matteson for its district office, the board decided Tuesday.

The 18,000-square-foot building, 20550 Cicero Ave., will cost $835,000 to purchase and will need more than $3 million in renovations, Assistant Supt. Ilandus Hampton said.

The timing of the purchase was questioned by resident Fred Veazey. “This same district claims the (Southland College Prep) charter school is putting them under,” he told the board. “I don’t understand that. Hopefully, there will be some discussion about where the money comes from to buy a building. You’re crying broke one day, and the next day you have money to spend.”

Owning property is a better financial decision than renting, Hampton said.

“Currently we’re paying about $210,000 as it relates to leasing,” he said. The board’s goal is to use the $210,000 from the lease payment to pay off the purchase of the building, so that money can go back into the operating fund.

The building shouldn’t cost taxpayers anything more, he said.

The board unanimously agreed to the purchase and approved $4 million in general obligation bonds to pay for the project.

The district aims to pay off the debt within four or five years, Hampton said.