Tuesday, July 21, 2009

What is the value?

Weaverville Councilman Gene Knoefel made a good point at the council meeting Monday (July 20) about the deed restrictions the council voted to place on the sale of the old fire station might have devalued the building.
Weaverville Town Manager Mike Morgan said two interested parties dropped out of the bidding process after reading the deed restrictions, although he added there are two more interested parties that might enter an upset bid.
The lone current bid is $350,000.
With the restrictions, the economy, and the repairs the building will need just to get to an operational state, what is the value of the old fire station?

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