Land Betterment Corporation to Acquire Control of Shutdown Elementary School to Repurpose into an Ag-Tech Center
Willard Elementary School in eastern Kentucky acquired to repurpose in an Ag-Tech center bringing innovation to the Appalachia region
FISHERS, Ind., April 6, 2021 /3BL Media/ - Land Betterment Corporation (“Land Betterment” or the “Company”), an environmental solutions company fostering positive impact through upcycling former coal mining and industrial sites to create sustainable community development and job creation, today announced the Company has successfully bid to acquire control of a shutdown elementary school in Perry County Kentucky. Land Betterment has plans to renovate and repurpose the school and surrounding property into an ag-tech center to focus on vertical and greenhouse farming.
The Willard Elementary School, which once educated over 200 children in Hazard, Kentucky, was closed in 2018 and consolidated into West Perry Elementary School. The closed school has approximately 3.7 acres of developable land which Land Betterment plans to upcycle into a local agriculture tech center in conjunction with Hazard Technical College and the Company’s Vertical and Groh business lines which focus on vertical and greenhouse farming. Land Betterment also anticipates providing several of the Company’s ekō container-based homes on-site to provide on-site accommodations for traveling professionals.
Thomas Sauve, Chief Development Officer of Land Betterment commented, “We have been looking at opportunities to bring solutions to some of the shutdown and abandoned schools in the region. Most schools’ architectural design and footprint are a really good fit to repurpose into ag-tech facilities. The Willard School will require some rehabilitation and development, but we are really excited to work with the community and Hazard Technical College to foster innovative opportunities and build on the regional momentum in ag-tech.
Closing of the transaction is expected to occur within 30 days, at which point Land Betterment will commence phase 1 of transformation of the school into a local center for agriculture technology and innovation.
About Land Betterment Corporation
Land Betterment Corporation, an Indiana Benefit Corporation, is an environmental solutions company focused on fostering a positive impact through upcycling former coal mining sites to create sustainable community development and job creation. The Company utilizes a complete solution-based lifecycle program to restore and rehabilitate the environment and revitalize communities in need of change and opportunity. Land Betterment accomplishes this by identifying un-reclaimed, run-down and neglected coal mining sites, fixing the environment through reclamation and remediation, and then repurposing the land to support a sustainable business that serves the community. Land Betterment firmly believes that with real solutions it is possible for restoration of impacted areas to live side-by-side long term employment, while building sustainable and safe surroundings for communities and our planet. For more information visit landbetterment.com or connect with the Company on Facebook, Twitter, and LinkedIn.
Special Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company’s actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond Land Betterment Corporation’s control. The words “believes”, “may”, “will”, “should”, “would”, “could”, “continue”, “seeks”, “anticipates”, “plans”, “expects”, “intends”, “estimates”, or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.
Company Contact:
Mark LaVerghetta
317.537.0492 ext. 0
Chief Governance Officer, Corporate Finance
Source: Land Betterment Corporation
