TPS to lease former admin building for senior housing
TOLEDO, Ohio (WTVG) - The Toledo Public School Board approved a resolution last week to lease the Thurgood Marshall Administration Building on E. Manhattan to a senior housing company.
In the resolution, the board agreed that the building was not being used for school district purposes and that the Thurgood Marshall Senior Housing, LLC to which they would be entering the long-term lease, would provide for the expenses and upkeep of the property. According to our media partner, The Toledo Blade, the company is actually made up of The Area Office On Aging of Northwest Ohio, teaming up with Neighborworks Toledo and consultant group Community Building Partners. The project, they say, will include an investment of more than $20 million.
According to the resolution, the lease includes the following stipulations. First, “the right of the District to terminate the lease in the event the property is needed for school purposes.” Second, a rental fee. Third, the company is responsible for all expenses, including operational and maintenance. The company must also provide adequate insurance coverage and agree to any additional terms that the district leaders should deem necessary.
See a spelling or grammar error in our story? Please include the title when you click here to report it.
Copyright 2022 WTVG. All rights reserved.