The Sylvania Board of Education today unanimously rejected the highest bid submitted at an auction to sell the property and building that formerly housed Central Elementary.
The board met in executive session for an hour after the auction to discuss the offers made on the 13 acres before taking action to reject the bid.
The man who submitted the bid, who declined to identify himself to a Blade reporter and who was not identified by board members, submitted a bid of $1.25 million for the two parcels of land at 124 and 3364 King Rd., in Sylvania Township.
School board president Vicki Donovan-Lyle said the board rejected the bid because it was "unacceptable" and it did not meet the board's reserve amount, which she declined to reveal.
There will not be further negotiations, board members said. The board might choose to post a traditional real estate listing for the property instead, in hopes of meeting or exceeding the reserve amount, according to board members.