How did the City arrive at the $8.975 million purchase price?

There were four appraisals completed with as is market values ranging from $7.0 million to $9.7 million. A review of emails and other records shows that the seller was initially unwilling to consider anything less than $9.0 million based on their appraisal and direction from their board. The final negotiated price was $8.975 million. 

The City made lower initial offers based on appraisal information, starting at $8.5 million, which were rejected.

Some members of the community have suggested that the City should have offered a much lower figure; staff has no reason to believe that this would have been successful. The process used followed a standard approach for a municipal property purchase.

Show All Answers

1. Why is the City seeking to build a new police and municipal court building?
2. Why did the City choose Harrison as the site?
3. How did the City arrive at the $8.975 million purchase price?
4. Did the purchase of the Harrison building include medical equipment?
5. How did the City pay for the building?
6. What is the current estimated cost of the Police/Court Facility?
7. Did the City overpay for the building?
8. Why is the Council now discussing the costs?
9. What’s the status of the project?
10. What happens if the Council decides to put this project on hold?