Roaring Fork School District finalizing land contract
GLENWOOD SPRINGS, Colorado – Roaring Fork School District Re-1 officials are proceeding with plans to buy 35 acres south of Glenwood Springs for a future new school site.
The Re-1 school board this week reviewed a new $2,950,000 contract for the so-called Eastbank property, located at the Ironbridge intersection along Highway 82.
If all goes as planned, the district is scheduled to close June 29 on the purchase, Re-1 Assistant Superintendent of Business Services Shannon Pelland said Friday.
The school board also plans to meet with financial advisors next week to consider the issuance of $3,370,000 in certificates of participation to facilitate the land purchase.
The property is part of a larger 110-acre parcel, located just off Highway 82 and east of the Roaring Fork River on Garfield County Road 154, just below the Ironbridge/Westbank turnoff. It is currently owned by East Bank LLC, and is used by a trash hauling company as a storage yard.
Contract negotiations between the district and the sellers began in January. The original price tag was $3.6 million, but the price was renegotiated after an appraisal was done.
It’s a piece of property the school district has been interested in for several years, Pelland said in January. Another portion of the larger property has been eyed by a prospective developer.
Long-term, the site could address the district’s future need for either a new elementary or middle school, or both, serving the area between Glenwood Springs and Carbondale. A new school south of Glenwood Springs was identified as part of the district’s future facilities needs assessment.
Both Sopris Elementary School, which serves the south end of Glenwood Springs, and Glenwood Springs Middle School are currently near or over capacity.
Money to purchase the new school site would come out of the district’s capital reserve fund. It would be financed through a long-term lease-purchase arrangement using certificates of participation.
Any future school construction on the site would depend on voters approving another bond issue, Pelland said.
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