MLK Library Building May Have a Buyer
The City of Tacoma may have found a deal to sell the MLK Library branch building for $700,000 to a local doctor who plans to use the site as a non-profit medical center.
The deal between the City of Tacoma and Lizotte P&O Associates LLC is on the pending agenda for June 29. According to an article from the Tacoma Daily Index today, “… Lizotte plans to turn the building into the Diabetic Foot Health Resource Center to provide care for individuals with diabetes who are at risk for limb-loss and provide prosthetic limbs for amputees.” Attached to any potential sale of the libraries is a requirement that
The starting bid for the MLK Library building was a minimum of $660,000, but money is only part of the equation in these sales (40% to be specific). Proposals had to answer several questions related to neighborhood and city alignment regarding such criteria as positive impact in the adjacent neighbors and the district as a whole; improvements in the quality of life and property values in the neighborhood, walkability, and streetscape; and alignment with the City’s planning and economic development goals.
There has been some question over how the proceeds from the sales of these two library properties would be distributed among the different entities that had a stake in funding and maintaining them. Here’s what the Daily Index had to say about that:
According to Conor McCarthy, assistant division manager in Tacoma’s public works department, 6.64 per cent, or $46,474, of the sale price will be deposited in the City’s Community Development Block Grant (CDBG) Fund because of their investment in the property and applicable federal law. The remaining $653,526 of the sale proceeds will be deposited in the City’s General Fund. The Library Board of Trustees has requested that this money be allocated for the maintenance of library facilities.
It’s sad to see our libraries sold off, but with no hope of re-opening them in sight, if this goes through at least one of them won’t be sitting empty indefinitely.
Read more about the sale of Tacoma’s MLK and Swan Creek library properties previously from Exit133.
Filed under: libraries, On-The-Market
3 comments
F fredo June 12, 2012
In 1986 the taxpayers paid over $15m for these properties and now one is being sold for less than a million.
Add this to the list of Tacoma fails.
C Chalky White June 12, 2012
The fail was building small, unappealing, substandard facilities to pass a levy 25 years ago. Buildings that were expensive to maintain and didn’t age well. It’s time for the library board to re-think the definition of access and stop clinging to an antiquated model.
F fredo June 12, 2012
Thanks Chalky, The buildings were somewhat unappealing but they weren’t inexpensive. I calculated the effective cost per square foot (in 1986 dollars) of $1500. That would be twice the cost of the urban waters building. Of course, the original cost may have included fixturing, etc. I couldn’t really find out.