After nearly a year of working out the kinks in a contract proposed by Kearney, the school district and the buyer signed an agreement to sell the land for $1.647 million earlier this month. However, Kearney has yet to deliver the funds.
“Essentially, they have until the 28th to get it done,” said Paul Green, attorney for the school district. “They are either going to come in with a good faith deposit or close the deal.”
The recent $2 million purchase of a property in Navarre - owned by former teacher Katherine Petrelis - was contingent upon the sale of Gulf Breeze property, home of the Gulf Breeze Chamber of Commerce.
If Kearney doesn’t deliver at the Aug. 28 board meeting, the school commissioners will put the land out for bid again. If he brings in a deposit, Green said the board would probably issue another 30 days for Kearney to finalize the transaction.
For more on this story, see the Aug. 21 issue of Navarre Press or subscribe online