State St. Property Expenditures

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State St. Property Expenditures

Postby Paul Pinkston on Tue Sep 16, 2008 11:25 pm

I must apologize for the information I gave on the State Street property. However, when I ask for the total amount of money the county had invested in the property plus the cost of the property I was given a bottom line of $3,221, 800.00. That was the rationale I used when I made the statement, “The County should take no less for the property than $3,221,800.00” and proposed that the money be used to fund the schools and much needed books for the library. I was not by any stretch of the imagination proposing to spend money the County did not have, the money would have been contingent on the sale of the property. As of today I was given a summery of all the expenditures on the property. The initial cost of the property was $2,719,300; I was some what taken back when I saw that $3,709,215 was spent on the property. Architect fees alone cost $1,355,637. Building construction $156,016, I have no idea what was constructed. There are 22 other expenditures listed bringing the total to $6,428,515. I am unsure that the property has been upgraded to the point that it will bring $6,428,515 at auction.
The County spent $200,247 to help relocate the businesses that was in the existing building that was later demolished.
After seeing the amount of money that has been invested in this property, I feel the County should rethink selling the property at this time. It is a fact that we are in need of an intake center and down the road more jail space. This property needs to be used for what it was originally intended. I welcome all input from the residents of the Knoxville/Knox County.
Paul Pinkston
 
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