Rochester, Mn (KROC-AM News) - The Rochester School Board voted last night to cancel a purchase agreement for the former Globe University and Minnesota School of Business building in northwest Rochester.

The school district had earlier agreed to pay $5.1 million dollars for the property with plans to convert it into a pre-K center, but the school board felt the estimated cost of remodeling the 40,500 square foot building was too high. Superintendent Michael Munoz had previously stated the budget for reconfiguring the former post secondary school was around $3 million.

The plan was to consolidate 16 early education classrooms what are currently spread across various elementary school sites in Rochester. Another 17 pre-K classrooms are located in the former Burr Oak Elementary School building along Marion Road Southeast, which is now known as the Mighty Oaks Early Learning Center.

The Minnesota-based for-profit college that operated inside the building closed in December after the federal government ruled it could not participate in the student loan program.

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