Last updated 2:55PM ET
October 23, 2017
WOUB Local News
WOUB Local News
Proposal Submitted
(2008-03-03)
(WOUB) - Ohio University is submitting an agreement to the state, which will allow a proposed retirement center to lease the university's land on Stimson Avenue for 60-thousand dollars a year.

National Church Residences will construct and manage the structure if the developer agrees to the final terms of this agreement.

But the Department of Administrative Services must first approve it.

The university originally hoped to lease the land for one-dollar a year, but the department asked the university to re-evaluate that amount.

The new document sets the annual lease at $40,000 for the 16-acre property.

It also includes a provision for National Church Residences to provide an additional $20,000 per year in government support payments, which would assist the city of Athens, Athens City Schools and possibly some Athens County projects.

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