From the Riverside School District website:
The Riverside Local School District and Painesville Township have agreed to terms on the Hadden Elementary property.
Painesville Township agrees to divide the Hadden property into two separate parcels and pay the District $40,000 over a 10-year span for the back portion, which will remain a public park. The front portion, which is still owned by the School District, will be commercially rezoned.
Painesville Township will also rezone the back portion of the property to a Community Service area with a deed restriction placed on the parcel, ensuring that it would not be able to change from its park designation without a vote from the general public. In addition, the name of the park shall remain “Clyde C. Hadden Park” or “Hadden Park.”
“Over the past several months, the Board of Education has been exploring options to put the School District and community in the best possible position to decommission Hadden Elementary School,” said Riverside Local Schools Superintendent Dr. James Kalis. “We feel we have reached the best possible outcome. It was very important to both the School District and Painesville Township that the back portion of the property remain a public park for community recreational use.”
“The Trustees appreciate the Riverside School Board working with us to keep the baseball fields preserved as they are today,” added Painesville Township Board of Trustees Chairman Gabe Cicconetti. “Both Boards had a strong desire to keep the park available for all residents to use, and we have achieved that goal.”
If the Township chooses to sell the property in the future, the District would have first right of refusal, as part of the agreement. If the District refuses, and the property sells, the Township would recoup their $40,000 and the rest of the proceeds would be split 50/50 between the District and the Township.
The District will continue to do its due diligence on selling the front portion of the Hadden Elementary property.