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Siloam Springs board approves purchase agreement to explore buying Dayspring facility for up to $6.7 million
Summary
The Siloam Springs School District board authorized the superintendent to pursue a purchase agreement for the Dayspring/Hallmark facility on Hwy. 16 — about 27.75 acres with a 156,000 sq ft warehouse and 36,000 sq ft office — at a maximum price of $6.7 million. The board said the acquisition could meet multiple district facility needs without raising taxes.
The Siloam Springs School District board voted to allow the superintendent to enter a purchase agreement for the Dayspring (DaySpring) facility on Highway 16 at a maximum price of $6,700,000.
Superintendent (name not specified in the transcript) told the board the property includes a 36,000-square-foot corporate office and a 156,000-square-foot climate-controlled fulfillment warehouse on about 27.75 acres. He said the district’s appraisal came in at $8,500,000 and that Hallmark (the parent company) had indicated a willing sale price of $6,700,000 — “almost $2,000,000 under what it was evaluated at.”
The superintendent presented several potential…
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