While details about the transaction were not immediately available, the Marshall Board of Education voted in executive session Tuesday evening to purchase the Banks property on the city's southern edge as the site for a proposed elementary school.
The land, located in the south part of Marshall between Odell Avenue and the Lincoln Avenue extension, was one of four locations recommended by the Marshall Public Schools Facility Committee over the course of its meeting. Also in the running were two plots in the north part of the city, one owned by the city itself and a second owned by the Newell family. Land owned by the Gieringer family in the east part of the city near the intersection of Morrow Street and Lincoln was also considered.
Two previous bond issues, which proposed to build two elementary schools on the Newell property in the northwest part of the city, were turned down by patrons.
When discussed in open session by the Facility Committee, members cited the Banks property's access, location and high visibility as its positive qualities. Drawbacks of the site include the necessity for street improvements and installation of a sanitary sewer line.
Members of the Board of Education and district administrators appeared before the Marshall Municipal Utilities Board of Public Works earlier this month to request MMU's help in constructing the sewer line to the Banks property. Members of the Board of Public Works expressed a desire to help, but stopped short of committing to the project.
At the time the land was initially considered, prior to negotiations by the Board of Education, the price of the land was quoted at $10,000 per acre. For the proposed elementary school project, the district would need to purchase about 65 acres of land.