Tybee Island Maritime Academy is moving forward with its purchase of the old Thunderbolt Elementary School after an agreement was unanimously approved by the Savannah-Chatham Public School System Board of Education at its December meeting.
TIMA notified parents Dec. 7 of its “strategic, fiduciary-based” decision to pursue acquisition through an option agreement of the 6-acre property at 3313 Louis St. The contract grants one party the exclusive right to enter into a future contract with another party during a specified time frame, five years for TIMA, allowing the buying party to asses the property and market conditions before committing to a full purchase.
TIMA will be purchasing the school for $1.375 million, according to the agreement…