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Town attorney Jim Wheeler outlines $1.8 million Jonesborough offer for former elementary site; board votes
Summary
The Town of Jonesborough proposed buying a former elementary-school property for $1.8 million ( $1.3 million at closing, $500,000 five years later) to preserve the building and retain public parking and access; the board debated acreage, value and conditions and the motion failed in roll call.
Jim Wheeler, town attorney for the Town of Jonesborough, presented a proposed purchase framework for the former elementary-school property, saying the town would offer $1,800,000 and was prepared to recommend that amount to its board.
Wheeler said the town would pay $1.3 million at closing with $500,000 due five years after closing. "We are prepared to...recommend to offer the value that was placed on it," Wheeler said, noting the appraisal treated the site's highest and best use as vacant land and included alternate values for the building removed or preserved. He also said the town wants to preserve the building and that the town is in a "unique position to utilize that building."
The board's discussion centered on three practical issues: the exact acreage to be transferred, access for buses and emergency vehicles, and whether preserving the existing building or demolishing it would yield greater net proceeds. A motion to accept the $1,800,000 offer was made by a board member and seconded; the motion text was "we're going to agree with the $1,800,000 with the town of Jonesboro."
Opponents flagged an acreage discrepancy and questioned whether the price reflected market comparables. "I come up with about 7 acres...I cannot sit here and support selling 7 acres...for 1.8," said a board member who had measured the property and compared nearby sales. Board members also contrasted this parcel with a prior Boone's Creek sale where demolition increased resale proceeds. Wheeler responded that the appraisal showed different values depending on whether the building was removed and said the town was willing to pay the appraised value that preserves the structure.
Board members discussed attaching stipulations to any approval: preserving public parking and track access, maintaining right-of-way for buses, making a map/boundary survey a condition of final agreement, and a 10-year period during which resale would require board review. The board also discussed directing sale proceeds to school capital needs such as security upgrades; a county representative noted prior interlocal language allowing proceeds to support school capital projects with county commission approval.
The appraiser named in the discussion was Greg Spears; several members requested a formal survey and clearer boundaries before any final vote. Members repeatedly emphasized the three-party nature of the proposed deal (town, county, and school board) and that any final transfer would be contingent on county approval.
After roll-call voting, the clerk read a tally that the transcript records as: "With 5 no's, 6 no's, and 3 yes's." The tally as announced indicates more no votes than yes votes and the motion did not carry. The meeting adjourned following brief closing remarks and thanks to visitors.
