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Old library worth $1 million, may be sold at auction

By Carole Cloudwalker

This document was published online on Thursday, December 04, 2008

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The former Cody library at Sheridan and 11th was given an “as-is” appraisal of $1 million, according to a report the county commissioners received Tuesday.

They earlier voted to sell the building, but decided the best route to a sale was to first obtain a property appraisal.

On Tuesday, a report from Jay Fulkerson of QM Appraisals set the property's value at $1 million.

The appraisal took into consideration two uncompleted repairs that fall into the “deferred maintenance” category: replacing the existing carpeting and repairing a crack in the basement's block wall.

Fulkerson, who could not attend Tuesday's meeting, will be asked to attend next week to further explain his appraisal.

Meanwhile, the commissioners appear to be making plans to sell the building, which has been sought by several groups and one individual, commission chairman Tim French said.

Commissioner Marie Fontaine said the board could advertise the building for sale and see if there is interest in it, setting a minimum bid based on its appraised value.

If no one came forward initially, the board could re-advertise it for sale at a later time, Fontaine said.

French said the advertising could even give a potential buyer up to six months to come forward.

“I personally would like to sell the building,” commissioner Bucky Hall said. “I'm not sure what process should be followed.”

Dave Wulfing, a member of the Cody Heritage Museum group, said they need time to raise money for the project.

“We need some time to figure out what the options are,” Wulfing told the commission.

“We're not rushing,” French assured Wulfing. “We're not in a big hurry to sell it.”

He said money raised by the sale would go into the county's general fund or possibly into a reserve fund, but would not be earmarked for any particular project.

“We're just working our way through this,” French added.

Following the meeting, Marge Wilder of the museum group said she is not certain the museum backers can raise that much money,

“But at least we have some basis to work from,” with the appraisal, Wilder added.

She found the appraisal amount fair.

“Based on its location, it's a valuable piece of property,” Wilder said.

Commissioner-elect Dave Burke, who attended Tuesday's meeting, said he “definitely” supports selling the building.

In addition to the museum group, the Park County Health office and teens from Cody High School have expressed interest in the former library.

In addition, French said a physician approached the county about purchasing the building, but did not have an audience with the board because the commissioners are not interested in selling to an individual as much as to a group or entity that would use it to benefit the community.

He said the property might go to public auction on the courthouse steps, which would be one means of disposing of it.

In that case a minimum bid covering the value of the site would be required, the commissioners said.

In related activities, the Cody Heritage Museum group is planning a public meeting at 6:30 p.m. Thursday, Dec. 11, in the meeting room of the new Park County Public Library.

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