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District releases appraisal showing $1.34M value for parcel; board stresses appraisal required by law, not a sale plan
Summary
An appraisal prepared by Valbridge Property Advisors valued the district parcel at $1,340,000 (about $14.70 per usable square foot); trustees said the appraisal is a legal requirement and not an intent to sell.
District staff reported an appraisal of a district property prepared by Valbridge Property Advisors that, according to staff remarks, concluded a value of $1,340,000 and roughly $14.70 per usable square foot. "They conclude the values of $1,340,000 and the $14.70 per usable square foot," a staff member reported.
Board members and the superintendent emphasized the appraisal was required by law and repeatedly stated it did not indicate any plan to sell the property. "The reason for the appraisal is because it's law," a trustee said; Superintendent Dr. Becky Minor told the public the property "is not for sale" and that the district is not pursuing a sale. The appraisal was described as based on comparable land sales and an assessment that the land — rather than the building improvements — drives the highest and best use for the site. The board did not vote on disposition; trustees said any future decisions would remain the purview of the board and that they are keeping the property for potential future district use.
