ABERDEEN | The city of Aberdeen is giving away a nearly 100-year-old school building for free along with a $400,000 check.

But interested parties must act fast.

The American News reports that city officials are looking to give away the old Washington Elementary School and a $400,000 tax incentive.

Officials are looking for someone willing to take the building and the money and develop it so that the assessed value of the land and the building is at least $1 million. The property currently has an assessed value of zero because it's owned by the city.

City attorney Adam Altman says he has been trying to draw interest to the building for five years.

The building was built in 1921 and is listed on the National Register of Historic Places.

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