Pleasant Valley School District has agreed to Eldred Township's stipulations for the purchase of the Eldred Elementary School.

Before taking ownership of the building, supervisors had several inspections done and asked solicitor Michael Kaspszyk to see what could be done about the reverter issue.The reverter was, if Eldred Township no longer had a use for the building, it could not sell it. The property had to revert to the district.The supervisors didn't want to go forward with making any kind of renovations to the building, then if for some reason they decided they no longer wanted the building, it would revert to the district and they would be out of all the money they had put into the building.Kaspszyk presented his proposal to the district's solicitor, Daniel Corveleyn, and reported to the supervisors that the township's offer was accepted.The agreement is: If for any reason, the township no longer wanted possession of Eldred Elementary during the first five years, if the school was sold, the proceeds would be split between the township and the school district, 50-50. If it was sold during the five- to 10-year period, the township would get two-thirds and the district, one-third. If sold during the 10- to 15-year period, the township would get 75 percent and the district 25 percent. After a 15-year period, the township would keep 100 percent of the proceeds.In May, the school district asked the supervisors if the township was interested in purchasing the school, which had been appraised for $1 million. The district had closed the school in 2010 due to the decreased enrollment. There has only been one tenant, Pocono Family YMCA, in the former school since its closure.The township initially turned down the offer, but when the district came back to them willing to sell it for $1, the township voted 2-1 to acquire the school at the July 2 meeting.All three supervisors signed an agreement for possession of the former school at Wednesday night's supervisors' meeting.All that's left is for the Pleasant Valley School District board of directors to sign it, which is expected to happen at the Nov. 13 meeting.Then the school will become the property of the township.The board is working on applying for a grant to help with some of the renovations, such as air conditioning, needed to entice future tenants.The supervisors said they are looking for volunteers to serve on a board for the running of the school and for volunteers to help in the upcoming renovations and care of the building. If interested, please call 610-381-4252.