The recent record-breaking flood brought 14 inches of water into the building for the first time ever. While the damage was substantial, an estimated $48,000, the city’s insurance has a $100,000 deductable. It would be the city’s responsibility to cover the repair cost and the lease says after one month if the building isn’t habitual the lease could be terminated.
Dawn Smith from Bowen Printing and the city have been in negotiations to sell the property.
Monday evening City Attorney Sean Surrisi told the Board of Public Works and Safety that since the governor has declared a disaster declaration that allows the city to suspend normal proceedings and can sell the property without the appraisal and bid process.
Smith offered $2,500 for the property as it sits and would allow the city to split the lot into two keeping the front half for the business and allowing the city to keep the back half. She would also give a utility easement on her property and spilt the cost of survey work and closing costs.
Clerk Treasurer Jeanine Xaver said the most recent tax assessment lists the land, the full lot, as $60,200 and the structure at $44,000.
After a bit of discussion the Board of Public Works and Safety approved the $2,500 sale price to Dawn Smith.