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Board hears appraisal and sale challenges for vacant MECO building; no sale imminent
Summary
Superintendent reported the district's vacant MECO elementary facility has an assessed value of $1,721,300 and a full market value noted at $3,627,608; staff will seek an appraisal and said previous waiver requests to state authorities were unsuccessful, so a near-term sale is unlikely.
Superintendent Dave (name as stated in the meeting; role: superintendent) updated the board on the district's vacant MECO elementary building and said previous attempts to secure a waiver from the agency that controls the property's status (referred to in the meeting) were unsuccessful.
The superintendent provided the district's current assessed value and cited a "full market value" figure: he said the assessed value is $1,721,300 and the full market value is $3,627,608, and he told the board he would be surprised if a professional appraisal exceeds about $700,000 based on feedback from a colleague with experience selling similar properties.
"I asked Kathy to give me an assessment of MECO. So the assessed value of MECO currently is 1,721,300 but the full market value is $3,627,608," the superintendent said. He noted taxation status and the difficulty selling to entities deterred by assessment levels and identified outstanding maintenance needs (a remaining roof section and minor interior work) while stating the building is otherwise in good condition.
Why it matters: A long-vacant district-owned property is an ongoing carrying cost and potential revenue source; an appraisal and discussions about assessed versus market value affect whether the district can repurpose or sell the asset.
Next steps: The superintendent said he will seek a professional appraisal and explore whether challenging the local assessed value is advisable, and he reported there is ongoing, limited interest from a family counseling center and others, but no transaction is imminent.
