Loveland board approves purchase of nearly 16 acres from Cardinal Land Conservancy for $1.526 million

The Loveland City School District Board of Education voted March 19 to enter a purchase agreement for roughly 16 acres of land owned by the Cardinal Land Conservancy on Route 48 for a purchase price of $1,526,000.

Board President Reverend Eilert announced the agreement after the district returned from an executive session, saying the board had met with Andy Dickerson of the Cardinal Land Conservancy and "we came to an agreement to purchase those approximate 16 acres for purchase price of $1,526,000." He added the transaction would not use the district's operating funds: "we are pleased to be able to move forward with that purchase price without having again to use any of our operating funds that we would only be using our PI funds." (PI refers to the district's Permanent Improvement fund.)

The treasurer and superintendent recommended the board approve a purchase agreement and separately authorized staff to issue a request for proposals for financing. Board members said they want to protect operating priorities — including career pathways, mental health supports and student‑teacher ratios — and emphasized the use of PI funds and external financing so the general operating fund remains untouched.

The board approved both resolutions by roll call. During the meeting the treasurer explained the PI fund is used for capital projects and estimated that debt service for the purchase would be roughly 5.2% of annual PI revenues under conservative assumptions; the treasurer also discussed financing vehicles such as tax‑anticipation notes that could extend financing beyond five years for land purchases in Ohio.

Superintendent Broadwater and board members said the land presents long‑term flexibility for facility planning and outdoor learning, and that any building on the site would follow an extended community planning process. The district said short‑term programming opportunities with the Conservancy are expected to move forward while long‑range facility decisions would proceed only after community input.

Next steps: the district will finalize the purchase agreement paperwork, issue the approved RFP for financing, and proceed with the financing option that meets the board's goal of securing the lowest reasonable interest rate; the district said it will invite community participation in planning future use of the property.