Stephen Austin, potential bu
yer of the old Moline Elementary School building, now is asking the Wayland Board of Education if it is willing to sell on a land contract.
In a land contract, the seller provides financing to the buyer to purchase the property for an agreed-upon purchase price and the buyer repays the loan in installments.
The request, for up to 24 months, is further evidence that Austin is having a difficult time finding financial backing in his attempt to buy the old school building and turn it into a combination business and residence.
“I believe it’s going to be very difficult for him to finance the project,” Wayland Union schools Finance Director Bill Melching told the Board of Education Monday night.
Austin has indicated he intends to buy the mothballed old elementary and turn it into a recreational vehicle repair business and eventually move in and make it a residence.
But first he needs to repair and replace the dilapidated roof. He also needs to take care of mold.
Austin has suggested he start by just using only part of the building for his business.
He wants to buy the building from the Wayland Union school district for $45,600 and allow Leighton Township to buy about three acres of the surrounding property for $24,000 to ensure the Moline Softball Association will continue and expand use of the softball fields.
The old building was shuttered in 2003.
Melching told the board, “This is a last-ditch effort to find a way to use that building for something… We have a building that is relatively useless and will cost us money to tear down.”
Melching added that another option for the schools would be to have the old building torn down for somewhere between $55,000 and $89,000 (two estimates he has received) and then sell just the property.
The school board has voted to sign a purchase agreement for the adjoining property, contingent on his buying the building and 5.8 acres. The Moline Fast-Pitch Association, which will contribute about $4,000 to the township and has promised to take care of maintenance, mowing and upkeep of the softball field.
Austin, co-owner of Happy Camper Mobile RV Service and Retro Rentals of Caledonia with his wife, Shelly, do all phases of repair and restoration to campers, motor homes and vintage campers. They also restore vintage campers for Retro Rentals.
PHOTO: Moline Elementary School
