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Trustees delay vote on sale of Fourth Street Gym after city offers $1.8M; board asks for replacement plan
Summary
City proposal would pay $1.8 million and charge the district about $1,500 monthly to occupy certain technology/storage spaces while assuming utilities; trustees asked architects for replacement-cost plans and agreed to defer action to next month to allow more analysis and negotiation.
District staff and trustees spent extended time discussing a city proposal to acquire the Fourth Street Gym. Staff said the city’s offer would pay an $1.8 million purchase price, pay the appraised value (reported by staff as about $1.7 million) and apply any difference between appraisal and offer toward closing costs; the city also proposed a rental arrangement for technology/storage spaces at $1,500 per month and to assume utility payments for non-district uses.
Staff descr…
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