A purchase agreement between Birmingham-Southern College and Miles College has officially expired as of 3 p.m. today.
The development comes after Miles requested a second deadline extension for the agreement. Under the new terms, the deadline would have been moved to December 24. That request was denied.
“BSC has been working with Miles – a private, historically black liberal arts college located in Fairfield, Alabama, a suburb of Birmingham — since May to facilitate the sale of BSC’s 192-acre campus property,” the college said in a statement released Monday. “A joint letter of intent was signed on June 19, reflecting BSC’s commitment to working with Miles at the exclusion of significant marketing to other potential buyers.”
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“The BSC community has great respect for Miles College, its students, faculty, staff, and alumni, and appreciates both the shared roots and the alignment of missions. But to meet its commitments to lenders and other creditors, the BSC Board of Trustees is obligated to sell the 192-acre campus property as quickly as possible.”
JUST IN–The purchase agreement between Birmingham-Southern College (BSC) and Miles College expired today at 3 p.m., according BSC, which said in a statement "the BSC Board of Trustees is obligated to sell the 192-acre campus property as quickly as possible." @bhamtimes
— Barnett Wright (@BarnettWright) November 25, 2024
The request to move the purchase date was not the first from Miles made to BSC.
On September 25, a purchase agreement with a closing date of October 25 was originally set. BSC then moved the date to November 25 at Miles’ request.
Both Boards of Trustees unanimously voted to enter into a purchase agreement, following a letter of intent submitted by Miles shortly after BSC ceased normal operations in May.
Austen Shipley is a staff writer for Yellowhammer News. You can follow him on X @ShipleyAusten
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