Reference no: EM132206568

Question: A town planning board must decide how to deal with theKendall Elementary School building. Twenty years ago, the Kendall school(one of four in the town) was closed due to falling enrollment. For the last20 years, the town has rented 60 percent of the building space to a nonprofitorganization that offers classes in the creative and performing arts. The group'slease is up, and now the board is mulling other options:

a. Renew the current lease agreement. This will generate a small butsteady cash flow and free the town of building maintenance expenses(which under the lease are the tenant's responsibility).

b. Renegotiate the lease and solicit other tenants.

c. Use the building for needed additional town office space. (A minimalconversion would allow reconversion to a school in 5 to 10 years, whenthe elementary school population is expected to swell.)

d. Sell the building to a private developer, if one can be found.

e. Convert the building to condominiums to be sold by the town.

f. Raze the building and sell the site and all or part of the surroundingplaying fields as building lots (from 6 to 12 lots, depending on howmuch land is sold). Apply the six decision-making steps presented in the chapter to the town's decision. What objectives might the town pursue in making its decision? What additional information would the planning board need in carrying out the varioussteps? What kind of analysis might the board undertake?