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Sandy City weighs buying Crescent View Middle School after split appraisals
Summary
City officials outlined a potential purchase of Crescent View Middle School: seller asking $17,000,000, three appraisals ranging from $8,500,000 to $17,100,000, and an August council vote planned to place a bond on the November ballot.
City officials outlined a proposal to purchase the Crescent View Middle School property and highlighted a wide gap among appraisals that the council must weigh before deciding whether to ask voters to fund the acquisition.
“A proposed purchase price is $17,000,000,” a staff member presenting appraisal results said, summarizing the seller’s asking price and three independently commissioned valuations. The city’s appraisal valued the property at $8,500,000, a Canyon-commissioned appraisal came in at $17,100,000, and a jointly ordered appraisal by the city and the school district placed the value at $10,000,000.
City leaders said the discrepancy in valuations is a central factor for upcoming decisions. The council is scheduled to vote in August on whether to place a general obligation bond on the ballot to fund a purchase; if the council approves placement, voters would decide the measure in the November general election. “In August, the city council will vote on placing a bond measure on the ballot,” the message said, and voter information pamphlets would be mailed in October.
