DE SB49

Authorizes the Appoquinimink School District to convey 3.70 acres of land at 200 Finley Street, Townsend, Delaware to the Town of Townsend for $1.00.

Grants the Appoquinimink School District a right of first refusal if the Town of Townsend later wishes to vacate the property.

Requires the Town of Townsend to pay all transaction costs associated with the property conveyance.

Mandates the Town of Townsend place a historical marker on the site indicating the property's historic significance to the community.

If the school district does not exercise its right of first refusal upon future sale, proceeds from the sale minus capital improvements made by the Town shall accrue to the Appoquinimink School District.