A group of Weatherly residents have done what was thought to be improbable a year ago — raise the money to purchase back the town’s landmark school.

Borough officials say they have a deal in place to purchase the Mrs. C.M. Schwab School.The Schwab School Restoration Committee voted this week to transfer the funds to the borough so it can finalize the purchase.“The committee has raised enough money to purchase the building. They’ll turn that over to the borough, they’ll purchase it from the bank directly,” said Mayor Tom Connors. “We expect it to go rather quickly within the next couple of weeks.”The group met its fundraising goal roughly eight months after the borough gave it the go-ahead to fundraise.Over that time, members also negotiated the purchase price of $50,000. The price was originally $200,000.“I think it’s probably quicker than people expected,” committee President Charlie Palermo said.“That’s due to nothing more than the tremendous support of alumni and friends that we’ve had.”Palermo admitted there were some anxious nights where he was afraid that someone could purchase the school before the town could. But he said while the bank that owned the property was looking to recoup its expenses, they really wanted the town to have the school.“There was always that concern, that fear, and sense of urgency about it. The bank, the owner, has always been good about wanting us to have it.”The committee has $46,000 in hand, and expects more pledges to come in soon. The money was raised through donations from residents, Weatherly High School Alumni and even area natives from across the country.Nine-year-old Adia Russell, who held a fundraiser for the school instead of her ninth birthday party, raised $1,400.“That’s the amazing part, that’s what gets you, makes you feel like you did something right. A cross section of everybody in the community came together and did this. ” Palermo said.The Schwab School Restoration Committee plans to invite the public when they close on the property. Palermo said that could happen as soon as the next two weeks.The group placed an “under agreement” sign outside the school on Thursday. They are hoping to replace it with a “sold” sign when the borough closes on it in the next few weeks.