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Commission proposes five-year lease and $118,000 annual rent figure for Libby campus building
Summary
Commissioners instructed staff to propose a five-year lease with a starting annual rent figure of roughly $118,000 (about $9,833 monthly) for the Libby campus building occupied by Flathead Valley Community College and to begin negotiations with the college.
Commissioners discussed a draft lease for the Libby campus building currently occupied by Flathead Valley Community College/Libby campus. Staff reported the building is about 31,307 square feet and presented statewide and county-level office-lease per-square-foot benchmarks between roughly $13 and $18 per square foot. Commissioners agreed to present a five-year lease term to the college and discussed a starting annual rent figure of approximately $118,000 (about $3.77 per square foot in the commission’s back-of-envelope calculation), which would break down to an estimated $9,833 monthly. The board asked staff to populate the lease with those terms and negotiate with the college; the draft has already been reviewed by county counsel.
A commissioner observed that the building’s size makes a market-rate lease potentially unaffordable for the college and emphasized the need to balance community use and financial feasibility. The commission directed staff to proceed with negotiations using the five-year term and the proposed starting rent.
