Wright State University may sell some property it has in Yellow Springs.
The school’s board of trustees approved a resolution today allowing president Cheryl Schrader and her administration to negotiate a sale of property in Yellow Springs for $270,000, said Doug Fecher, board chairman.
The university may sell the property to a nonprofit called Yellow Springs Home, Inc., an organization that builds “permanently affordable and sustainable housing,” according to the nonprofit’s website.
The property WSU is selling could become the site of future senior citizen housing, Fecher said.
The $270,000 will be a welcome, albeit small cash infusion for Wright State, which has struggled to deal with its ongoing budget crisis. The university is trying to slash another $10 million from its budget by June 30.
In October 2016, Wright State decided to sell a parcel of land it owns in Yellow Springs to Miami Township for $350,000.
The university owned 26 lots at the intersection of Xenia Avenue and Herman Street in Yellow Springs and sold 11 of them. Those 11 lots had sat vacant for several years, WSU spokesman Seth Bauguess, said at the time.
Fecher did not say during the board meeting whether the remaining lots are what the board has agreed to sell for $270,000. More details will be added to this story as they become available.