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Commission defers decision on 926 Columbia Avenue purchase to June to pursue alternatives
Summary
After staff reported the property at 926 Columbia Avenue is under contract and an appraisal showed roughly $23.5 million, the commission voted to defer Resolution 3-26-26 (authorization to execute the purchase) to June 15, 2026, to allow more time to evaluate alternatives and seek a seller extension.
Staff reported the county holds a contract for 926 Columbia Avenue with an effective date of Dec. 9, 2025, and a 120‑day due‑diligence period that ends April 8. Jim Cross said the county has completed a phase‑1 utility survey and a test fit with Gresham Smith that shows contemplated uses would fit. An appraisal received by the county showed a valuation of about $23.5 million.
Commissioners expressed concern about moving forward without exploring alternatives. One commissioner asked for an inventory and analysis of county‑owned parcels inside Franklin city limits and clear reasons why those parcels might not be suitable. County staff (Kevin) and real estate contacts presented availability of other options: a 15‑acre warehouse listed at $38 million and the old CPS building (not currently for sale).
Because the contract's due‑diligence period expires before the commission's next regularly scheduled meeting, a motion was made to defer Resolution 3‑26‑26 to no later than June 15, 2026, so staff can ask the seller for an extension and complete additional analysis. The committee voted by voice and recorded the deferral as unanimous.
The deferral preserves the county’s option to proceed while giving commissioners time to review alternatives and obtain more appraisal and site‑feasibility information. Staff was asked to keep commission leadership updated on whether the seller will agree to an extension and to prepare a comparative analysis of county‑owned and nearby properties.
