Waverly-Shell Rock Sells Former School

The Waterloo-Cedar Falls Courier

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By Belinda Yeung

Story Created: Jun 16, 2012 at 9:43 AM CDT

Story Updated: Jun 16, 2012 at 9:43 AM CDT

WAVERLY, Iowa --- The Waverly-Shell Rock School Board on Thursday approved the sale of the district's former junior high with the condition the structure will not be torn down.

Board members accepted a contract with 3Q Investments of Waterloo. Real estate agent Jim Benda is listed as a principal of the company but was unable to attend Thursday's meeting.

The resolution passed 4-0 during a special board meeting. Kelly Flege was absent.

After earlier negotiations with the developer, the board approved the deal for the old school at 215 Third St. NW in Waverly. The sale price was $5,000.

A clause gives 3Q Investments 180 days to conduct feasibility studies. The goal will be to determine whether to move forward with plans to renovate the building for residential properties and possible commercial use, according to Superintendent Jere Vyverberg.

If 3Q Investments decides not to proceed with the project within the designated time frame, ownership of the building will revert to the school district.

The school sustained damage during flooding in 2008, and the district recently constructed a new middle school.

When the school board first looked into selling the original structure, many residents commented on its beauty and on taxpayers' investment, hoping the building would not be torn down, said Dennis Epley, a board member.

Epley is glad the district was able to sell the building and still essentially preserve what is a beloved structure to many. The contract calls for maintaining the building's exterior.

"I'm much more at ease with this contract the way it's been written now," he added.

The district has until November to remove memorial trees and shrubs planted on the property, according to Vyverberg.

Vyverberg, who is also vice chairman of the Waverly Economic Development Commission, said the proposal to turn a former school into residential housing is a good fit for the community. He also noted the property's proximity to businesses and downtown Waverly.

"It's a win-win," he said. "I think this is something that will serve everyone very, very well."

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