District staff support second 30-day extension for movie-lot sale as Pulte negotiates with Hatfield Township

The North Penn School District Finance Committee recommended placement on the Jan. 23 action agenda of a proposed second amendment to the sale agreement for the movie lots, extending Pulte's due-diligence period by 30 days to a total 165 days from the original contract date and moving the deadline to March 3, 2025.

District staff said Pulte asked for the extension because it is renegotiating its development plan to treat the movie-lot tract and an adjacent tract it already owns as a single development; that change requires additional conversations with Hatfield Township planners and staff. District counsel and staff said the land is already zoned residential, so the extension is to allow the developer and the township to agree on density and land-development details rather than to resolve zoning hurdles.

The district noted a court hearing on the sale is scheduled for Jan. 27 at 1 p.m. in front of Judge Saltz, courtroom 13; the district expects the court proceeding will be routine and that the sale price exceeds two independent appraisals. Committee members asked whether Pulte might request more extensions; staff said it was possible but that the district could consider other options if extensions continued.

A motion to place Amendment Number 2 on the Jan. 23 action meeting passed (motion by Mrs. Soule; second by Mr. Fusco; "Aye," motion carries). Staff said they will request a Pulte update at the February finance committee meeting, which will fall within 30 days of the extended due-diligence deadline.