By Ed Birch, Special Writer
The Board of Education voted to purchase its Administrative Office Building for $4.8 million Monday night.
The board unanimously approved item 1.24 on its consent agenda allowing for the purchase of the 2,500 square-foot facility located on 3.2 acres off Blackhorse Lane.
Board members Harry Delgado and Peter St. Vincent were absent from the meeting.
The item, and the accompanying resolution approved the expense to be charged against the capital reserve account in the amount of $4,810,000 for the purchase.
There was no discussion about the item during the meeting.
The building is owned by IRIS Associates, LP. of New Jersey and has been leased by the district since 2005 at a cost of $306,000 per year, according to Business Administrator Anthony Tonzini.
"We’ve been negotiating a purchase since early this year, the board doesn’t want to continue to lease for another 10 years when we could purchase for a similar amount and then hold an asset," Mr. Tonzini said in an email Wednesday. "If we lease for 10 more years, we walk away with nothing, and the cost would be similar."
Mr. Tonzini said the district moved from its former quarters at 4 Executive Drive because that facility was too small to continue to house operations.
That facility is now being used for the buildings and grounds and transportation departments, he said.
"We’ve also looked at every office complex throughout the township and couldn’t find anything remotely close to the cost we are paying now to lease," Mr. Tonzini said. "The board wasn’t interested in paying more to lease, This was a great opportunity."
