The deal is struck and Wayne County is moving forward with planning for the construction of the new Fremont Elementary School.
The Wayne County Board of Education met Thursday and approved the Fremont School deed and lease agreement reached with the county.
School board attorney Richard Schwartz went through the details, and says the school district is transferring the property to the County of Wayne.
The county will be the landlord and the school district/school board will be the tenant.
The school district is deeding the property over to the county so it can use it as collateral for the debt that will be assumed.
Schwartz says this will also allow the county to recover the sales taxes that are being used for the construction project.
The Wayne County Board of Commissioners is expected to take action on the same agreement at their meeting next week.
In recent weeks, the school board and Wayne County Board of Commissioners had approved an amended funding agreement worth up to $23 million for the construction of the new Fremont Elementary School.