Fairhope, Alabama
SPECIAL COUNCIL MEETING THIS MORNING
The city council voted to authorize the council president to execute an agreement to purchase the K-1 school property as well as the community park across the street and Nix Center property it has been leasing from the Baldwin School Board for years, all for four million dollars.
An initial cash payment of $2.5 million will be made by closing date, then five yearly payments of $300K each -- to be used in Fairhope feeder pattern schools at the discretion of the city's Educational Advisory Committee.
Closing should be completed by December 31st.
LONG TERM USES AND COST STILL NOT DETERMINED
Uses for the property after purchase were not mentioned in the purchase agreement other than it be used for some "public purpose" for 15 years.
A number of citizens spoke in favor, suggesting various possible uses like education, arts and crafts, performing arts, a boutique hotel, etc.
(No specific uses were committed to at this time, except in the event the federal grant described below is approved.)
GRANT APPLIED FOR
A $6.1 million federal grant is simultaneously being applied for to purchase the property and begin renovations; if it is not approved by the closing date the council has the option to cancel the purchase contract entirely.
A condition of the grant is that a portion of the building be used for HATCH offices and programs; a 20% match is required from the city ($1.2 million).
The HATCH program is a city partnership with the University of Alabama begun in 2016:
"The University of Alabama has partnered with two Alabama cities to create entrepreneurial hubs and spark tech business growth. The Technology Villages program assists communities in constructing and operating storefront technology-focused incubators by fostering entrepreneurial culture, developing a resource ecosystem and linking University of Alabama resources with emerging tech companies across the state."
SPECIAL COUNCIL MEETING THIS MORNING
The city council voted to authorize the council president to execute an agreement to purchase the K-1 school property as well as the community park across the street and Nix Center property it has been leasing from the Baldwin School Board for years, all for four million dollars.
An initial cash payment of $2.5 million will be made by closing date, then five yearly payments of $300K each -- to be used in Fairhope feeder pattern schools at the discretion of the city's Educational Advisory Committee.
Closing should be completed by December 31st.
LONG TERM USES AND COST STILL NOT DETERMINED
Uses for the property after purchase were not mentioned in the purchase agreement other than it be used for some "public purpose" for 15 years.
A number of citizens spoke in favor, suggesting various possible uses like education, arts and crafts, performing arts, a boutique hotel, etc.
(No specific uses were committed to at this time, except in the event the federal grant described below is approved.)
GRANT APPLIED FOR
A $6.1 million federal grant is simultaneously being applied for to purchase the property and begin renovations; if it is not approved by the closing date the council has the option to cancel the purchase contract entirely.A condition of the grant is that a portion of the building be used for HATCH offices and programs; a 20% match is required from the city ($1.2 million).
The HATCH program is a city partnership with the University of Alabama begun in 2016:
"The University of Alabama has partnered with two Alabama cities to create entrepreneurial hubs and spark tech business growth. The Technology Villages program assists communities in constructing and operating storefront technology-focused incubators by fostering entrepreneurial culture, developing a resource ecosystem and linking University of Alabama resources with emerging tech companies across the state."
Comments
HATCH, STEAM. The overwhelming majority of residents would favor those. Other uses can be further talked out. This is not an idea coming from nowhere. While money is being spent there is a great deal being obtained. For starters the purchase price is below the property (properties) value and millions are NOT coming from local government. Also the seller is the BCBOE. The sale proceeds will bolster their (our) finances. Don’t forget the city is already paying rent to BCBOE for the NIx Center which ,contrary to popular belief, is not presently owned by the city. The city is getting what will be 10 million plus dollars of real estate for 1.2 million plus a little more. And our schools will gain from the 4 million injected into BCBOE. If you gripe about this deal you are pretty hard to please.
This is clearly the former and utility upgrades r the real needs.