After negotiations with Troy City Schools, the Troy City Council has agreed to sell the old Army Reserve Center to be used as a new board of education building.

For $500,000 in cash and some of the school board property, the Troy BOE will take ownership and move from its Elm Street location.

This comes after the school board denied a $770,000 offer made based on the property appraisal by the city last month, in hopes of negotiating a lower purchase price.

Troy Mayor Jimmy Lunsford said with further negotiations of school board property, the value will come to the asking price, but at this time, he isn’t sure what property the city will acquire.

The project will take place from a state bond issue that can only be used on capital projects.

And, after extending a May 29 contract with hospital owners for support, Lunsford said the two entities have come to terms with how a transition of ownership would occur if the need arose.

“I was able to negotiate a new option in the event of any failure or breach of regulations or the owners ceases operations of how the city would move forward with the purchase of the hospital,” Lunsford said.

This was part of the agreement of the extension made in the last council meeting.

And, it’s been a long time discussion, but the city has approved a bid to build a concession stand and restrooms at the Sportsplex soccer fields.

Also in the meeting, the council voted to allow Lunsford to begin application for federal funding to paint two water towers in the city.

Under the American Recovery Act, Lunsford said the city will seek funds to paint a water tower on George Wallace Drive and the Utility Complex.

The council also approved a contract for new uniforms for the Public Works and Utility Departments, a move that will take about 33-percent of the costs paid now.

The next council meeting will be held April 28 at 5 p.m.