Historic Libby High School discussions continue
March 29, 2007
As we expected, Bryon Scott of Scott holdings and Flathead Financial Group presented a proposal to purchase the Historic Libby High School.
The appraised value of the building, according to a Missoula appraiser hired by former project developer Conover Bond of Spokane, placed the value of the structure at $120,000.
Bryon Scott offered the school board $128,000.
The school board decided to form a committee to determine what price they will accept, but suffice it to say, that $128,000 was not their "magic number".
Kate Huntsberger and Jim England voted against forming the committee. But it was clear the other members of the board want to work with Scott to arrive at a price that both sides agree on.
"This is the first time I've bought a building that I didn't know what the asking price is," Scott told the board.
Jim England wanted to know if the offer was negotiable. "Is this the price?” he asked Bryon Scott. "I don't expect much movement," responded Scott.
England suggested that perhaps the building should be moth-balled.
"I'm not comfortable with $128,000. I think its worth more than that. That's my opinion, I think its worth more," said England.
Lee Disney asked the rest of the board if the offer was in the ballpark. "I'd like to see more too, I'd be comfortable with $135,000, but is this in the ballpark," he said.
"I agree with Jim," said Huntsberger. "Let's just mothball it," she said. "I can't live with $135,000 either," said Huntsberger. "You're going to put 2 and half million into this building, give us $128,000, and make all this profit," continued Hunstburger.
"The building is worthless until someone is willing to buy it," said Board Chairman Terri Kelly. I'm in favor, let's go forward. I'm in favor of moving forward," she said.
The board decided to form a committee to arrive at an asking price. They meet Thursday at 9am in Kirby Maki's office.
Story by KLCB Libby News Radio, www.todaysbestcountryonline.com
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