School district formally approves Boardmanville sale - Olean Times Herald: News - School district formally approves Boardmanville sale: News

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School district formally approves Boardmanville sale

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Posted: Wednesday, October 3, 2012 8:57 am

OLEAN — An extensive legal process and a public vote of approval await. But the Olean City School District Board voted unanimously in favor of selling one of its two closed elementary schools Tuesday evening.

The other school’s fate is yet to be determined.

Steven, Michele and George Pancio II recently submitted a bid to purchase the vacant Boardmanville Elementary School. The board accepted ... and could potentially profit from the Pancios’ bid, which, at $251,101, was greater than the district’s minimum acceptable sale price of $230,000.

The board, however, declined a proposal to buy Ivers J. Norton for $20,000 — much lower than the desired $140,000.

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