A purchase agreement and land contract allowing the Village of Oxford to buy the former township hall (18 W. Burdick St.), the parking area that goes with it and the old fire station for $262,500 was approved 4-0 by council last week.
The village will make an $87,500 down payment to the township using monies from its general fund reserve.
The municipality will then make two equal payments of $87,500 over two years at a 2 percent interest rate.
In order for the transaction to happen, the township board must now approve the purchase, which it’s expected to do at its Jan. 23 meeting.
The township’s discussed using the village’s down payment to help finish off the lower level of its new office building at 300 Dunlap Road, so the Oakland County Sheriff’s Department can relocate its substation there.