At their public business meeting on September 19, the Colonial Board of School Directors unanimously approved an agreement of sale to purchase the Romano property located at 1065 Belvoir Road in Plymouth Township for $6.85 million.
The District is now in a 120-day period to inspect the property.
When the sale is finalized, the District plans to continue to use the property as a bus depot in a lease agreement with First Student. The District's transportation provider currently houses and operates more than 200 buses on the property. The First Student agreement includes built in rental increases, and the District expects the property to pay for itself in approximately 40 years. Keeping the transportation company in the District also saves Colonial on increased fuel and rental costs that would be incurred if the buses were located elsewhere.
Owning the property will also give the District valuable space which could be used to address future enrollment expansion.