College of Western Idaho has the results of the property appraisal for the old Bob Rice Ford property near 30th and Fairview and to the surprise of no one, the appraisal came back just above the purchase price.
Here is the press release from CWI.
Ada County Campus – Due Diligence on Boise Property Update
The College of Western Idaho has received the completed appraisal on the property at Main and Whitewater Park Boulevard in Boise, which the College has entered an agreement to purchase. The CWI Board of Trustees reviewed the appraisal that valued the property at $8.975 Million which supports the Purchase and Sale Agreement amount of $8.8 Million.
“The appraised value of the land reaffirms our confidence that this site is the best location for CWI to develop a campus to better serve the community college district based on its location, size, access, and cost” said CWI Board Chair Mary Niland. “We are still in the midst of our 180-day feasibility period, and cost is one of the factors we are assessing prior to a final decision. We respect and appreciate the interest of the community in our campus development plans, and value the conversations this process has inspired and that we continue to have. The Trustees and the College pledge to involve the community and keep you informed as we move forward through the feasibility period and with planning the future development of CWI’s Nampa, Boise, and online campuses to better meet the needs of our students and the community.”
In addition to the appraisal review, the Board of Trustees reviewed the Request for Qualifications results for a conceptual plan on the property. The Board provided approval for the College to enter into contract with CTA Architects for preliminary work for the proposed Ada County Campus in Boise to allow time to involve governing agencies and the public in the process. The College is in the process of conducting additional due diligence including environmental tests, land surveys, audits, and conversations with various city officials and agencies.
To insure more advertising-free Boise Guardian news, please consider financial support.