The Stanley-Boyd School Board has received an update on two land parcels it owns on the Yellow River.
“We previously talked about the acreage we owned north off of Highway S in the town of Colburn,” district superintendent Jeff Koenig said. “I spoke with White Barn Realty in town and they did a market analysis of both parcels.”
Deeded to the school district as forest land before the consolidation of the Stanley-Boyd School District, the land has since been replaced in terms of actual use by land nearer to the school building.
The two parcels are located on the Yellow River, the parcels numbered as 23005-2021-00000000 and 23005-3014-00000000 respectively.
Identified for more practical purposes as parcels #2021 and #3014, the district has been looking into whether to sell or dispose of parcel #3014 due to vandalism. Looked at along with parcel #3014, parcel #2021 includes a clause that says it becomes county forest if sold. Parcel #3014 has no such clause and contains an area with campground known as Patty’s Park, while parcel #2021 has more area near the river, but contains a clause that it reverts to county forest land if disposed of.
As it turns out, parcel #2021 has greater value in terms of land, per an analysis from White Barn Realty of Stanley.
“In our opinion, we believe the #2021 parcel offers great value and versatility compared to the #3014 parcel, particularly with some surveying - which would be an added cost,” the analysis says. “Both parcels present potential and opportunities for each sale.”
Koenig went into the reasoning behind the appraisal.
“There’s a 40 near parcel #2021 which sold on Oct. 9 for $235,000,” he said. “At the time it had been listed near $300,000. They think that it would probably be somewhere in those ranges. They felt that both parcels could be divided if we wanted to divide it, and get more money from that.
Parcel #3014 comprises 35.8 acres and appraised from $200,000 to $225,000, while parcel #2021 is comprised of 36.5 acres and appraised at $300,000 to $330,000 in value.
Among things that lower the value of parcel #3014 is the narrow land area in proximity to the river, which impacts building ability. Also thought to lower value was that the river had to be crossed to access nearby hunting land.
“So that was their thoughts on what the range might be,” Koenig said of the appraisal by White Barn Realty. The school district is still looking to hear back from the county on parcel #2021. The district isn’t looking to part quickly with parcel #3014 in the meantime.
“If you want to list it to sell we could do that,” Koenig said. “We could put it on the market or we could do sealed bids or we would just hold onto it.”
Board member Chad Verbeten shared that he would like to think on it before moving to list the property known as Patty’s Park.
“I think personally now that we know the value I would like to think on it,” he said of the district weighing its options. Another consideration was what to do with any sale proceeds.
“The other thing is if we sell it, we should have a plan for where that money’s going to go,” Verbeten said of a potential sale of parcel #3014 on the Yellow River.
But as for the Town of Colburn as possible buyer for Parcel #3014?
Not interested.
“We talked to the Town of Colburn and they said they’re fine with receiving it but have no interest in purchasing it,” Koenig said.
No decision was taken on the land at the October school board meeting.