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District to close on two admin properties; final price for 63 Spaulding reduced to $710,000 after due diligence
Summary
District staff told the board the district will close within days on two administration properties. Due diligence reduced the negotiated price for 63 Spaulding to $710,000 from an earlier $950,000 estimate; ADA and life/safety upgrades were estimated as additional potential costs.
District Manager Christian J. Hein updated the board April 28 on the planned acquisition of two properties for a new administration building: 63 Spalding and 79 Spalding (note: transcript contains alternate spellings). Hein said due diligence, inspections and appraisals led staff to renegotiate 63 Spalding’s price down to $710,000…
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