[Vision2020] who will bid on the Federal Building?

Art Deco art.deco.studios at gmail.com
Thu Jul 19 15:14:06 PDT 2012


Bill London asks:

What are the chances Doug Wilson will grab it?    Here's another question:

*When will Doug Wilson pay Larry Germer the over half million dollars
Cultmaster Douglas Wilson allegedly owes for work on Greenweeds
(Greensides)?
*
w.


On Thu, Jul 19, 2012 at 3:05 PM, Bill London <london at moscow.com> 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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-- 
Art Deco (Wayne A. Fox)
art.deco.studios at gmail.com
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