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The Grand Coulee Dam School District is loaning itself the money to truly own Center Elementary School and the surrounding property.

The board voted last Wednesday to move $155,000 from the district’s general fund to its capital fund to purchase the property. Then later in the meeting the board authorized the superintendent to sign the necessary documents.

The district will actually purchase a “reverter clause” in the existing title, and when this is completed will be the owner of the Center School building and surrounding property.

The district is acquiring the building and surrounding property, some 8.46 acres, from Continental Land Company, a Spokane holding group, and plans later to sell the building and property.

Continental has allowed the district to use the property for decades, with the stipulation that when the building no longer was used as a school it would revert back to the holding company.

The move will give the school district clear title to both the building and land around it.

Of the acreage, about 5.2 acres was designated as “usable” but it was later noted that builders could probably find a way to use the rest of the property. A steep hill lies on one side of the property.

The building, called Center Elementary School, housed younger aged students since Wright Elementary School was closed in Coulee Dam.

Wright Elementary School was torn down two years ago to make way for the building of the district’s new P-12 school complex. Center Elementary housed some 320 students from kindergarten through the fourth grade.

Superintendent Dennis Carlson said the district will need to have the building and property appraised before it can be sold.

If the district finds a buyer for the building and property it will revert back to tax roles.