University 'Still Interested' In High School Property
Fayetteville district's offer to sell to get serious look
Last updated Friday, May 30, 2008 7:18 PM CDT in News
By Rose Ann Pearce
The Morning News
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FAYETTEVILLE - University of Arkansas administrators have something to consider now that the Fayetteville School Board placed a "for sale" sign on Fayetteville High School.
For months, the university's position has been the matter would be considered in depth if the School Board decided to sell the school and 40-acre campus, next door to the university.
"This is something we're still interested in," said Tysen Kendig, associate vice chancellor for university relations. "This formalizes the process on our end."
Still, Kendig noted, the university will have to study the offer further, including the suggested purchase price of $59 million.
The Fayetteville School Board voted 6-1 Thursday to offer to sell the high school campus to the university and authorized Superintendent Bobby New to begin negotiations to purchase 73 acres on Morningside Drive as a new high school site.
The Board of Trustees meets Thursday at the Winthrop Rockefeller Institute on Petit Jean Mountain, but Kendig did not know if the high school purchase was or would be on the agenda.
At least two Northwest Arkansas trustees - Chairman Jim Lindsey and member John Tyson - said in recent months the university should buy the high school property for future growth.
Attempts to reach Lindsey and Tyson were unsuccessful Friday afternoon. Jim von Gremp of Bentonville, the third trustee from Northwest Arkansas, was out of town Friday and not expected to return until late night.
"It's really too early to speculate on what our position will be," Kendig said Friday morning, noting at that time the School Board decision had only been made hours earlier.
The $59 million price tag, which likely will be a negotiating point, is higher than the university's appraisal of the property. A school district appraisal, completed nearly a year ago, listed the value at about $62.2 million, while the university's appraisal valued the property at $56.5 million.
Chancellor John White, Chancellor-elect Dave Gearhart, college deans and department heads toured the campus in February. Officials at the time said acquisition of that much land at once is a once-in-a-lifetime opportunity.
Tyson said such an acquisition would help the university grow to its goal of 22,000 students.
"The university is the only really big business in Fayetteville. This creates an opportunity for the business to grow," he said while touring the campus with the university delegation.
The terms and conditions of any sales contract will have to be approved by the School Board.
Not everyone agrees relocating the high school is the best idea.
Build Smart, a grassroots organization that opposes moving the high school, issued a news release Friday noting the school district will forfeit "as much as $340,000" a year in property taxes if the school is moved. The news release states Build Smart calculations are based on data provided by the school district, Fayetteville and the Washington County Assessor.
The sale of the high school would be a tax-exempt transaction since neither the school district or the university pay property taxes on their real estate holdings.
At A Glance
Fayetteville High School
Opened: 1952
Square Feet: 312,932 square feet
Additions: 1966, 1993, 2001 (Bates Annex)
Major Renovations: 2000 - lighting, flooring, heating-air conditioning system, library upgrade, office upgrade.
Other Campus facilities on the site: Fitness center, administrative annex, indoor baseball facility in what was a former Boys & Girls Club; McClinton Administration Building; Ray Adams Leadership Center, the former Westside Elementary School; Harmon Field and Bulldog Baseball Field.
Source: Staff Report
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