Town of Greenville Special Meeting Minutes March 30 2026
Town Advances Contract for Greenville Elementary Property
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Description
The Greenville Town Council authorized its attorney to advance contract amendments with the Madison County School Board for transfer of the Greenville Elementary School property, valued at $1,560,000 at no cost to the town. The agreement includes 30‑year restrictive covenants, extended lease terms, and revised insurance and reverter provisions to protect the town.
Contract Details
Contract Amount
$1,560,000 property value (no purchase cost to town)
Vendor
MADISON COUNTY SCHOOL BOARD
Agency
Town of Greenville, FL
Contract Type
FACILITIES
Document Date
March 30, 2026
Contract Term
30-year restrictive covenants; closing period extended from 10 to 30 days; vendor lease terms up to 3 years
Renewal Date
2056-03-30
Renewal Info
Contract includes 30‑year restrictive covenants that diminish a buyout provision by 1/360th each month until the town owns the property free and clear; lease terms for vendors can run up to 3 years, with requested waiver for governmental and nonprofit tenants.
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