By David Madden

HADDONFIELD, NJ (CBS) — After seven years of sometimes bitter debate, it appears that the future of the Bancroft School in Haddonfield has been decided. That is, if residents like the plan elected officials have settled on.

The borough has announced plans to purchase the 19-acre property along Kings Highway for just over $12 million. The school had originally sought $20 million.

“It is directly adjacent to our high school, and it’s really the best spot in town where there’s any sort of ground available for additional education facilities,” explains Borough Commissioner Ed Borden.

Although there will also be open space, how much depends on how much the state and county kicks in. The rest- along with school construction funds – will be floated in a bond issue subject to voter approval, which Borden expects in January.

The move is likely to satisfy those opposed to commercial development of the property, but there’s still the question of abiding by a state mandate for more affordable housing in Haddonfield.