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District receives $1.7 million appraisal for Fourth Street property; board to discuss sale vs. reuse
Summary
An appraisal valued the district’s Fourth Street gym and buildings at about $1.7 million (sales-comparison approach); staff and trustees discussed options including keeping the facility for district use, renting it, or selling as-is.
The district provided trustees an appraisal for the Fourth Street property (gym and associated buildings) at the Feb. 14 meeting. The appraisal firm reported a sales-comparison value of approximately $1,700,000 and a land valuation within that total of about $600,000.
The firm included a cost-replacement approach that produced a similar rounded value. The report also estimated that if the district demolished the structures…
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