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Medina County appraisal district asks Medina Valley ISD to cover $32,000-a-year share for new office
Summary
Medina Valley ISD trustees heard a presentation Jan. 27 from Cynthia Malone, chair of the Medina County Central Appraisal District, who asked taxing entities to approve purchase and renovation financing for a 7,900-square-foot Hondo building estimated at $1.6 million; MVISD's share was presented as about $32,000 per year over 20 years.
Medina Valley ISD trustees heard a presentation Jan. 27 from Cynthia Malone, chair of the Medina County Central Appraisal District, explaining the appraisal district aims to buy and renovate a building in Hondo and is asking taxing entities in the county to approve financing.
Malone told the board the appraisal district has identified a 7,900-square-foot metal building on 18th Street that faces the railroad on U.S. 90 and has negotiated a purchase price below the listed $1.2 million. She said the appraisal district estimates total purchase plus renovations at about $1.6 million and intends to finance that amount over 20 years. Medina Valley ISD's share, Malone said, would be about $32,000 per year; she corrected a recent newspaper report that had misstated the figure as $32,000 per month.
The appraisal district plans to use roughly $200,000 from its building fund at closing and expects to borrow about $1.6 million; Malone said $300,000 would…
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