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District reports Wanamingo building sale; proceeds deposited
Summary
Board was told the Wanamingo building has sold and proceeds in excess of $326,000 were received; staff said the funds do not change the SOD calculation and were applied to bond/debt obligations.
The board heard that the Wanamingo building closed last week and that the district received proceeds in excess of $326,000, which were deposited shortly after closing. A presenter described the sale process, required platting and easements related to a nearby pool and coordination with local government and the new owner.
Staff emphasized the accounting treatment of the funds: one-time sale proceeds are applied to outstanding debt and do not directly alter the SOD spreadsheet used for the district's recovery calculation. "Tricia received the check, the proceeds in excess of $326,000 a week ago today... and we no longer own the building," the speaker said. Board members thanked the realtor and staff for managing a complex closing and noted the property will be repurposed as community space.
