By Dan Hust
JEFFERSONVILLE — Developer Ilwon Kang has rejected the terms of Sullivan West’s offer to extend his option to purchase both the Narrowsburg and Delaware Valley campuses, according to SW Superintendent Ken Hilton.
Kang had requested the extension – which would have run to April 1 or 30 days after the Town of Tusten approves its zoning rewrite.
But the board’s demand of a nonrefundable $2,000-a-month payment was unacceptable to him, Hilton confirmed yesterday.
That payment fell far below what the district spends per month to maintain both closed campuses but had been instituted this summer so that Kang “would have some skin in the game,” Hilton recalled.
Kang had, in fact, paid that amount every month this summer and fall but apparently is not willing to continue such.
Kang could not be reached for comment yesterday, but Hilton said the exchange of emails between attorneys indicated Kang would accept an extension without that $2,000-a-month payment.
Thus the SW board is meeting this Thursday, first in executive session and then in public, to discuss options. The meeting will commence at 6:30 p.m., followed by a public Student Achievement Report at 7 p.m. at the high school library in Lake Huntington.
Hilton said the board could accede to Kang’s desire, but if they don’t, his current option to purchase the schools will run out on Monday.
“If he refuses and we leave it as it is, he’s severed our relationship and we with him,” Hilton explained.
SW would then be obligated to return his $150,000 deposit but not the $2,000-a-month payments he’s made this year.