The Fayette County School System is hopeful the newest contract from a developer to buy surplus school land near Inman, southeast of Fayetteville, will come to fruition.

If the contract goes through, the system will have made a profit on the property and driven down the purchase price of the property it plans to use for a new elementary school.

The School Board approved the contract Monday night that would sell 99 acres to Empire Development. The company plans to develop two-acre lots on the site, and the contract is contingent on the developer getting the appropriate zoning from the Fayette County Commission. Empire also agreed to pay the school system $25,300 an acre.

“We paid $22,500 an acre. If this goes through, it would make the price we paid for the school property $13,000 an acre,” said land acquisition consultant Jerry Whitaker.

Board member Marion Key pointed out the last offer was higher, but Superintendent of Education John DeCotis said the contract was never signed by the potential buyer.

“I’m in favor of getting another bid,” Key said.

The board accepted the contract by a 3-1 vote with Key voting against it. Board chairman Terri Smith was not at Monday’s meeting.

The board purchased the 130-acre property on Ga. Highway 92 and Inman Road earlier this year for $2.9 million.

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