The Flagler School Board has received a $2.5 million offer for a piece of property it owns in the heart of Palm Coast.
BUNNELL — Selling a prime parcel of land in Palm Coast for $2.5 million could help the school district purchase new buses for its aging fleet, but with property values increasing, School Board members are wondering if they should wait to sell.
The 7.44-acre property sits at the southeast corner of Palm Coast Parkway and Corporate Drive in Palm Coast. A large building occupied the site until April 2016 when it was razed. The building was the former site of Flagler Technical Institute before it fell into disrepair and had to be abandoned.
District officials bought the land in 2001 for $3.5 million. They tried to sell it in 2015 for a minimum bid of $2.3 million but got no takers.
Once the building was demolished, however, inquiries about the land began to come in. One offer was for $1.8 million.
In March, board members voted to have the parcel appraised. Two appraisals were received, one for $1.75 million, the other for $2 million. This represents an increase in the property’s value; the highest of three appraisals performed in 2013-14 was $1.56 million.
Board members also agreed in March to advertise for bids and received one for $2.5 million. School Board attorney Kristy Gavin’s office declined to identify the bidder.
Board members must decide whether to accept or reject the bid by June 22. The next regular meeting is scheduled for June 19.
“I’m not so much opposed to selling it as I really would like for us to make sure we’re selling it at the appropriate time,” said board member Colleen Conklin. “It seems the market’s just coming back. I don’t know if right now’s the time to sell it.”
“This could go a long way towards our capital needs,” said School Board Chair Trevor Tucker during Tuesday's workshop session.
Both Tucker and board member Andy Dance mentioned the need for new school buses. Dance said the bus replacement schedule has been “insufficient.”
The district has fallen behind in replacing its buses largely due to financial constraints resulting from the recession. According to district Chief Financial Officer Tom Tant, the district should be buying 10 new buses each year, but capital funds have not been sufficient.
The district purchased seven buses this year, up from two in each of the last two years. Each bus costs the district about $113,000. The district runs 100 buses over 86 routes.
School stadium needs repairs
Also at its June 19 meeting, board members will consider repairs to the 40-year-old Flagler Palm Coast High School stadium. The board will vote on an $872,800 bid for the project submitted by Lasa Construction of Jacksonville. There would be a 15 percent contingency.
After an inspection in 2014, the engineer recommended that the light poles be moved from the stadium itself to the ground. Another inspection in 2016 also turned up what Plant Services director David Freeman called “a laundry list” of work that is needed.
The list includes repair to concrete that’s flaking off underneath the seating area and painting of both the stadium and the field house.
“The stadium is not getting better,” said Freeman, though his team members emphasized that the structure is not in any danger of collapse.