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Floyd County to pay $207,750 for City's share of New Albany animal shelter building
Summary
The county approved paying the City of New Albany $207,750 (half the averaged appraisals) from EDIT to buy the building while retaining the land; occupancy terms allow the county to remain until a new building is completed or Dec. 31, 2027.
Floyd County agreed April 28 to pay the City of New Albany $207,750 from EDIT to complete a purchase arrangement for the animal shelter building, using the average of two appraisals ($415,500) as the basis for the buyout.
County Attorney Kristi Fox explained the parties obtained separate appraisals; "The average of the 2 appraisals was $415,500.00, 50% is $207,750.00," Fox said. Under the agreement the County will retain ownership of the land under the building and may remain in the building until either a new county facility is completed or Dec. 31, 2027; the City will pay occupancy expenses during that period. The Board approved paying $207,750 out of EDIT in a unanimous vote.
Commissioner Frank Loop commented the property could be used for a new courthouse in the future, and Jeff Dickson reported cost savings identified while working with Highlander Fire. The motion to approve the payment was moved by Frank Loop, seconded by Jason Sharp, and passed unanimously.
