The Minot Public School Board on Thursday, Feb. 12, approved the purchase agreement and deed following the auction sale of the vacant Bell Elementary School building.

I Help-Open Gate Church is the purchaser of the school building.

The auction was held on Wednesday, Feb. 11, and business manager Laura Dokken said the purchase price was $840,000 and the 10% in earnest money had been paid. Dokken said there weren’t any issues pending that she was aware of that could get in the way of the scheduled closing date on or before March 18. However, school board member Scott Louser raised concerns whether all of the required due diligence can be completed in that timeframe given the purchaser is an entity rather than an individual.

“On a cash sale where there’s an entity purchasing, any closings that happen after March 1, there’s going to be some additional disclosures from the purchaser to the title company. We’ve got a closing date here in the middle of March. The closing agent may have to access all the members of the entity for federal reasons. So long as they’re aware of that,” Louser said.

Dokken said she would communicate that to the buyers, and if any changes are required a special meeting will be scheduled.

Board member Sabrina Herrmann thanked all involved for their efforts, saying the initial decision to close the school was a difficult one, but she welcomed the closure brought by the sale.

The board voted to approve the purchase agreement and the limited warranty deed.