ST. LOUIS BOARD OF EDUCATION POLICY

CONSTRUCTION

PLANNING

Site Development

Under the direction of the superintendent of schools, the commissioner of buildings may seek an independent appraisal from a licensed appraiser of the market value of any properties to be purchased or sold by the Board of Education. This appraisal shall be used as the basis for negotiating a purchase price with the seller or purchaser.

The commissioner of buildings, with the concurrence of the superintendent, may engage real estate agents or brokers to help Board of Education staff in this effort.

Agents or brokers shall receive no compensation in the event that the actual purchase or sale of real estate is not made, regardless of the reason for such failure of transfer. Furthermore, agents or brokers shall receive no compensation in the event that the board must use its power of eminent domain to obtain title to such real estate.

A title service company shall be used to provide an examination of title of property bought by the Board of Education.

The selection of firms or individuals for real estate broker, appraisal or title services shall be made in a manner that is competitive, equitable, and non-discriminatory.

References:

Legal: Section 177.073 RSMo.

Policy adopted: July 24, 2001