June 24, 2021 (Moscow, Idaho)
- The City Council of Moscow will discuss the sale of the soon-to-be-vacated Moscow Police Station facility located at 118 E Fourth Street to the University of Idaho. The proposed sale price of the 9,000 sq. ft property is $975,000, which is the appraised value.
On May 21, 2019, citizens of Moscow approved the City of Moscow's proposal to issue municipal bonds to construct a new police services facility, remodel the current police facility for use as an office building, and make minor improvements to the Paul Mann Building located to the west of City Hall. On Jun. 15, 2020, the City of Moscow purchased the Haddock Building located at the southeast corner of Washington and Fifth Street, from Gritman Medical Park, LLC, for a purchase price of $875,000. The purchase of the Haddock Building includes off street parking and represents significant savings over the estimated remodel costs of the current police facility.
With the purchase of the Haddock Building, City Council expressed interest in selling the existing police facility and was approached by representatives of the University of Idaho.
Idaho Code Title 50, Municipal Corporations, Chapter 14, Conveyance of Property, allows a city to convey real property to another governmental entity without the requirement of holding an auction. The University of Idaho has transmitted a letter of intent to the City of Moscow, noting an interest to purchase the property.
The City Council will take up the matter first via a public meeting on June 28 to declare its intent to sell the property and the price of the sale. If Council declares its intent to convey the property to the University of Idaho for a declared value, there will be a public hearing scheduled on July 19, 2021, where City Council will conduct the public hearing to determine if it is in the City’s best interest to convey the property to the University of Idaho for the declared amount. If approved by the Council, an ordinance will be enacted authorizing the conveyance, and then the sale would move forward as a typical property sale.
In addition to the savings from the purchase of the Haddock Building and the sale of the current police facility, the City also received an exceptionally low interest rate of 1.27% for the original bond sale. The 1.27% rate, down from the anticipated rate of 2.21%, results in a total savings of more than $500,000 in interest expense over the 10-year term of the bond.
“The low interest rate of the bond, when coupled with the purchase of the Haddock Building and the sale of the current police station, provides the most economical and long-term solution to the City’s police and office facility needs,” said Mayor Bill Lambert.
The construction timeline for the new police services facility remains on schedule, with an anticipated opening in Oct. 2021.