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County approves sale of Albina Library Annex to residential buyer for $535,000
Summary
Multnomah County approved sale of the Albina Annex property (236 NE Knott St), purchased in 2022 with library capital bond funds, to a residential purchaser for an agreed price reported as $535,000; staff said bond rules require sales before FY2027 be at market value.
The Multnomah County Board voted to adopt a resolution authorizing the sale of the Albina Library Annex at 236 Northeast Knott Street to a residential purchaser, staff said during the board’s virtual meeting.
Katie Scheifele, the library’s finance and facilities director, told the board the county purchased the property in 2022 for $575,000 using library capital bond funds. The single‑family structure is roughly 1,400 square feet on a 7,500‑square‑foot parcel adjacent to the Albina Library. Department of County Assets staff described a disposition process that included a 60‑day public comment period and targeted outreach before the property was listed.
Facilities staff said the property received multiple offers; after negotiation the agreed sale price reported during the presentation was $535,000, subject to inspection adjustments. Staff said the buyer intends to remodel and occupy the house as a primary residence. Officials also noted bond finance rules require properties sold before the end of fiscal year 2027 to be sold at market value so proceeds can support the library capital bond program.
Commissioners asked about competing offers; staff confirmed a late $400,000 offer arrived after negotiations with the prospective buyer and was not considered in the earlier negotiation. Commissioners expressed appreciation for outreach and asked staff to continue exploring opportunities to capture community benefits when county land is disposed.
The board approved the resolution by roll call. The resolution directs county staff to complete the disposition consistent with bond rules and the terms discussed at the meeting.
