After leasing the former Orchard Lane Elementary site in Brooklyn Center for six years, Odyssey Academy had hoped to call the building its permanent home.

But inability to secure financing for the site at 6201 Noble Ave. in Brooklyn Center has forced Odyssey Academy to continue leasing the structure.

The Osseo School Board Tuesday, Jan. 20, approved a termination agreement with the Odyssey School Building Organization. The termination comes after a failure to close on a purchase of the site by Nov. 25.

According to Assistant Superintendent Kim Riesgraf, the Odyssey School Building Organization will continue to lease the building.

The School Board had approved a purchase agreement with the group last June to sell the property for $3.7 million.

The school, which used to be Orchard Lane Elementary in the Osseo School District, was closed in 2002 due to budget cuts. The building was leased to Odyssey School Building Organization later that year for $500,000 per year and has remained its only tenant since the closure.

Odyssey Academy - formally Odyssey Charter School - is a chartered, public school serving students in kindergarten through eighth grade.