Siloam Springs board approves purchase agreement to explore buying Dayspring facility for up to $6.7 million

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 uses if the district acquires the property: converting the corporate office to a roughly 500-student elementary school with cafeteria, gym and playground; locating Panther Daycare in a remodeled portion of the warehouse; creating a consolidated maintenance and transportation facility; and providing a large conference/banquet space for district events. He said remodeling the office into an elementary school could cost substantially less than building a new school, estimating new construction at approximately $40 million while forecasting renovation costs would be “less than $20,000,000.”

On financials and community impact, the superintendent said the purchase could be funded without asking voters for additional tax dollars and suggested selling an existing 30-acre parcel (Kenwood) to help finance the acquisition. He offered a conservative estimate that using the Dayspring site where practical could save the district “as much as 45 or $50,000,000 in future cost” compared with building multiple standalone facilities.

The superintendent read a note from Jeff Nichols, Dayspring’s general manager, describing the facility’s transition within Hallmark and the company’s willingness to work with the district. The superintendent also told the board that the district had walked the building with its architect and believed many spaces could be adapted economically.

Board members asked clarifying questions. After discussion the board made and seconded a motion to authorize the superintendent to sign documentation to purchase the Dayspring property on behalf of the district. The motion carried by voice vote.

What’s next: The district will proceed with purchase-agreement negotiations and, if it moves forward, will return to the board with finalized terms and financing details. The superintendent said the district might also market existing property (Kenwood) as part of funding. The board’s approval authorizes pursuing the purchase; it is not a final closing.