The Kent County Commissioners have accepted a bid by Washington College to purchase the Department of Education building on Washington Ave. in Chestertown, MD. The building has long been vacant and the College was the only bidder after three bid solicition attempts by the county.
The partnership around the purchase of the property by the college involves a two option bid combining cash payments and scholarships. In Option I, the college would purchase the property for $1,850,00 with $850,000 being paid to the county over four years and the remaining $1m to be issued in merit scholarships to Kent County students to attend Washington College. The scholarships would be called “Commissioner’s Scholarships” and would be issued over a period of ten years. Option II would have the college purchase the property for $2m with $500,000 paid to the county at the time of closing and the remaining $1.5m issued as scholarships similarly to Option I. The Kent County Commissioners chose Option I. From ShoreUpdate.com:
The sale of the property is dependent upon certain conditions that can only be met by the town. The college would like the property to be rezoned Institutional, and the Chestertown Historic District Commission, the planning commission, and the appeals board would grant a demolition permit for the existing building, with the exception of the front facade of the original structure.
The college plans to use the property for additional classroom and administrative office space. The sale of 215 Washington Ave. will help cover some of the cost of the Kent County Public School consolidation and relocation.