The former Lake Colby School, at 26 Trudeau Road in Saranac Lake, is to be bought by Northern Lights School. (Enterprise photo — Amy Scattergood)

SARANAC LAKE — After months of consideration, the Saranac Lake Central School District Board of Education is going ahead with the sale of the Lake Colby School property.

The board decided that the property at 26 Trudeau Road “is no longer of use or value” to the district and should therefore be sold.

The location consists of a former school building and 1.33 acres of land within the town of Harrietstown. It hasn’t been used by the district since the end of the 2010-11 school year, when it was shuttered because of declining enrollment and tight budgets. Before it closed, the building was used for many years for kindergarten and pre-K classes.

“We are going to put it on the market,” said district Superintendent Diane Fox. “We do not have a buyer at this time.”

The building — which was built in 1945 after a previous school on the site burned down — is currently being rented by two preschool programs: the Adirondack Arc’s Children’s Corner and Adirondack Community Action Programs’ HeadStart.

Fox had previously estimated the value of the property at about $500,000. At last night’s meeting, the board agreed to work to get the property appraised and to find a real estate agent by the Nov. 18 board meeting. It was also agreed to prioritize finding a buyer that would bring added value to the community.