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Council discusses sale of library building; staff and library board to continue negotiations
Summary
Council reviewed a realtor's estimate valuing the city's library building at about $500,000 and discussed selling the structure to the library board at a lower price ($250,000'$300,000 suggested) to reduce city operating costs while preserving community services; staff will return with recommended terms including a possible first right of refusal.
Council members discussed a potential sale of the city-owned library building and property during the Nov. 12 meeting, weighing market value against community service benefits.
Staff reported a realtor's estimate placing the building's market value around $500,000 but noted limited comparables. County valuation history shown to council ranged from about $319,000 (2021) to $370,000 (2023) and a recent county estimate the staff read aloud of $604,000 sparked concern about appraisal variance. One council member said they did not understand how the county arrived at the higher figure.
Library representatives expressed interest in acquiring the building. Staff suggested a sale price in the $250,000 to $300,000 range to reflect tenant improvements and the library's provision of community services; staff also noted the city pays roughly $40,000 per year in operation and maintenance for that building. Councilors discussed including a first right of refusal clause so the city could repurchase if the library later left the site.
Council directed staff to take the proposed price range to the library board for consideration and return with the board's response and recommended terms. No formal motion or final decision on sale price was made at the meeting; members emphasized that any transactional details would be returned to the full council for review and approval.
