[Vision2020] who will bid on the Federal Building?

[Wayne Price]

Bill,


Just curious, why should it matter, as long as the tax payers of the  
city and county don't get stuck with it.
It's a white elephant with more problems than it's worth.



Wayne









On Jul 19, 2012, at 3:05 PM, Bill London wrote:

> The issue of the ownership of the Federal Building is a big deal for  
> downtown Moscow.  What are the chances Doug Wilson will grab it?
>
> BL
>
>
> -----------------------------------
> Federal Building going to auction block
>
> By Brandon Macz, Daily News staff writer | Posted: Thursday, July  
> 19, 2012 1:00 am
>
>
>
> Whether Latah County or a private interest will acquire Moscow's  
> surplused Federal Building is uncertain, but the gauge will be set  
> next month when the General Services Administration places the  
> property up for public auction.
>
> A banner advertising the online public auction will be attached to  
> the roof of the Federal Building Friday, said Andrew Schwartz, a  
> realty specialist with GSA's disposal division heading up the  
> property's sale.
>
> GSA declared the building surplus in November, citing limited  
> revenue, a lack of tenants and $3 million in needed improvements.
>
> Latah County commissioners had attempted to negotiate with GSA to  
> purchase the building, but were unsuccessful in persuading the  
> federal agency to significantly lower its $1.9-million price tag and  
> take a $300,000 offer.
>
> The county leases more than 4,000 square feet of office space there.
>
> Commissioners decided May 30 - a day before the deadline set by GSA  
> for the county to up its offer - to attempt to acquire the building  
> at auction.
>
> Schwartz said the 60-day online auction starts Aug. 7, and could be  
> extended depending on bid activity.
>
> "The bidding is sort of the driver for when the auction will  
> actually close," he said. "There's a great deal of potential bidder  
> interest."
>
> Prospective bidders will have to pay a refundable deposit to  
> participate and a starting bid amount will be set, however, Schwartz  
> said these costs likely won't be set until next week.
>
> "If the opening bid's $1.9 million, I'm going fishing," said Latah  
> County Commissioner Tom Stroschein during Wednesday's commission  
> meeting.
>
> Commissioner Dave McGraw said the commission is focusing first on  
> setting the 2012-13 budget and trying to provide a salary increase  
> for county employees.
>
> B.J. Swanson, who had been brokering negotiations with GSA for the  
> county, said she believes the federal agency will set its minimum  
> bid at 10 percent of the property's valuation - also set by GSA -  
> based on researching other government auctions.
>
> "I know there have been other people in the building looking  
> around," she said, "but whether they'll bid, I have no idea."
>
> Once GSA closes the auction, the winning bidder must provide 10  
> percent of the bid amount within 10 days with an average 90-day  
> closing date, said Schwartz.
>
> Schwartz will be giving prospective bidders tours of the Federal  
> Building at noon, 1 p.m. and 2 p.m. on Aug. 2 and Aug. 9 starting at  
> the entrance.
>
> To follow the auction once it opens, go to realestatesales.gov.
>
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