(Is it snowing in your neighborhood? In Ravenna, it has been since about 12:30 and is now starting to stick to landscaped areas but not the ground. It's pretty but it's also spring.)
This article appeared in today's Times, noting the sale of Queen Anne Gym. From the article:
"Seattle Public Schools has struck a deal to sell the Queen Anne gym to the same developer that converted the old Queen Anne High School into condominiums, but this time it appears the district got a better deal.Lorig Associates will buy the 1.1-acre site for $7.5 million, assuming the School Board approves the details this spring. "
"The Assessor's Office values the Queen Anne gym and property at $4.8 million."
Yes, the district did do better this time but it has never explained or held accountable the person(s) who signed off on the first Queen Anne High deal. To wit:
"Under a 1986 contract between the district and Lorig, the district was to end up with only 12 percent of the proceeds when Lorig sold — about $6.5 million. At the time of the sale, the land alone was worth $1 million more than the district received, according to the King County Assessor's Office. According to the lease agreement, once the building was converted to condos, the district was to give up its ownership of the building and land and sign over individual deeds to the new condo owners."
That is so painful to read because we lost money on the deal and, of course, lost the land that we could have used for QA/Magnolia high school students.
I did end up called Emily Heffter, the Times' reporter, about this last sentence:
"Under state law, proceeds from sold property can't be used for ongoing maintenance or any of the district's academic programs or day-to-day expenses."
Her answer was, of course, those monies can only be used for capital projects (probably anything as big as a roof replacement on up). After this sale goes through, it would be good to track that money and ask specifically where it is going.