I sure do not want to beat a dead horse, but it's time to move on. I was excited and optimistic when Sherman Associates was pursuing the possibility of purchasing the former Kasson school and turning the building into senior housing units. They have the expertise for this and have done projects for millions more than what would have been spent here. Renovation is also one of their specialties.
In order for the project to work financially they were counting on Section 42 housing credits to help fund the project. They requested $396,740 per year for 10 years for the Minnesota Housing tax Credit. They were not awarded the tax credits so the deal was canceled and the purchase agreement terminated.
To me, if a company as reputable as Sherman Associates is unable to make a project profitable without financial backing, I doubt there is another business/individual out there who can. It's time to move on.
This injunction is costing the taxpayers of Kasson. City attorney fees will add up and the city will be right back to where they were in 2007 when the first injunction was filed.
The old school controversy has been a an emotional roller coaster. I was at an all time high for reuse when Sherman Associates was involved. When they terminated the agreement my emotions went the opposite direction. It's becoming tiresome writing about the subject. Bite the bullet and let's move on.