Texarkana College Trustees Approve Revitalization Plan of Surplus Property
Monday, February 27, 2017- Texarkana, TX- Texarkana College Board of Trustees took action today to declare the TC Annex as surplus and accept a proposal to purchase the building and land at no cost with the intent to raze and prepare the lot for development of a green space for TC students and the surrounding community. The outcome of the proposal will result in approximately a half-million dollar cost avoidance of liabilities for the college. Once the project is complete, TC will have the option of receiving the property back as a gift from the buyer.
In an effort to reduce maintenance and utility costs campus-wide, TC relocated or discontinued all services housed in the Annex. The structure is now vacant and TC president, James Henry Russell, said this poses a potential liability risk for the college.
“We have worked hard to minimize our facility footprint to tighten up costs associated with underutilized space,” Russell said. “We’ve studied alternatives for repurposing the property and have also considered costs and risks associated with demolition. Either course of action would result in the college paying out large sums of money for a project that does not align with our strategic plan.”
Russell said that discussions have taken place over the last three years concerning alternate uses for this facility. However, no viable options surfaced or any interested parties came forward.
“We held a formal RFP earlier this month to solicit more interest and only one proposal was received,” said Russell. “We recommend that the property located at 1201 Carroll and 2501 College Drive be declared as surplus and that TC accepts the proposal received from the public.”
Stan Excavating, LLC, presented the lone proposal with intent to purchase the property at no cost and repurpose the area for use by TC students and the surrounding community. According to the proposal, upon receiving the title to the property, Stan Excavating will remove all structures, debris, and concrete from the property, and will level and seed the soil in anticipation of developing a lush, green space. Thereafter, the Buyer will request that TC consider accepting the property back as a donation.
“We are anticipating a great response to the proposed new use of the land,” Russell said. “The Trustee’s acceptance of Stan Excavating’s offer will not only provide a cost and liability savings for the college, but will provide a place where students and families alike can relax, have fun, and enjoy a beautiful new green space near campus. We are grateful for the proposal and look forward to the next steps.”