There have been plenty of rumors swirling around the purchase of the former school for the deaf by a large church in Sioux Falls wanting to add a third location, but they may run into a snag.
According to one of South Dacola’s sources there may be something written into state law that if they sell it, the money goes back to the general fund and the Board of Regents loses it. But if they do a complicated transaction where the church buys a building for CSD, they can do a 1031 exchange and BOR can maintain control of those financial resources.
Another source told me that they may only be able to buy some of the private buildings but would have to lease the land (long term) from the state and BOR.
This may be why Lloyd companies backed out on a previous deal. We’ll see if the church succeeds, if it gets too complicated for them, we may be able to use the space for it’s intended use EDUCATION and a new Whittier school.