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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 (compared with an initial negotiated figure of $950,000). He said even with anticipated repairs and a potential roof replacement the overall cost would remain below the earlier $950,000 estimate.
Hein advised that bringing the building fully into current ADA life‑safety compliance could add roughly $200,000 or more if the board later chooses to remodel. For 79 Spalding, staff completed sketch-plan reviews with Pueblo County and Pueblo Regional but still need to clarify access and any road improvements to use the rear parking area; Hein estimated up to $40,000 in road improvements as an upper bound in planning scenarios. Combined project costs remain under $1 million based on the staff’s current estimates, Hein told the board.
Hein said staff intends to close on both properties on the upcoming Wednesday and will proceed with acquisition steps and next-phase planning after closing.
Ending: The board received the update and had no additional questions; staff will proceed to closing and follow-up.
