A deal is close to being struck for the purchase of land for the new Madras College.
Fife Council said terms were almost settled on an option agreement with the University of St Andrews for buying the 18-acre Langlands site for £2.5million.
The agreement would also see Fife Council hand over the St Andrews school’s South Street building to the university on the same date, and lease it until the £50m new school is complete.
Councillors will be asked on Thursday to authorise service heads to agree the terms of the lease of the South Street campus at a nominal rent.
They will also be asked to authorise the grant of a licence to occupy land at Straiton Park for construction by the university of a new road to the school.
A report by Ken Gourlay, head of the council’s assets, transportation and environment service, says: “Good progress has been made in discussions with the university and the terms of the option agreement are close to being agreed.”
He said the agreement was subject to a number of conditions, including obtaining all necessary consents for building the school and completion of the access road by the university.
He said: “The mechanics of the arrangements are that there will be a simultaneous exchange of ownership of the Langlands site for the South Street campus plus the additional £2.5m.
“The university will also simultaneously lease the South Street campus back to the council at a nominal rent until the buildings are vacated following completion of construction of the new school at Langlands.
“The council will remain responsible for the maintenance and insurance of the South Street campus until vacated.”
Consultation is being conducted on the long-awaited replacement of Madras College on the Langlands site. Drop-in sessions are to be held at Madras College, Kilrymont Road, on Wednesday, and at Tayport Primary School on Thursday, both from 2pm to 8pm.
It is expected that a planning application will be submitted in autumn.
The council intends to erect a three-storey building with a university campus style for up to 1,450 pupils, boasting two flood-lit 3G all-weather sports pitches.
Previous negotiations between the council and university over a land exchange for the school broke down in 2011, before the ill-fated Pipeland site emerged.
