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Old Morrison School up for auction
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Old Morrison School will be auctioned off by Donald Hillis Realty. The date and time are yet to be scheduled.
The county’s Financial Management Committee has reviewed bids received from a request for proposal (RFP) inviting local realtors to submit packages for auctioning the school. The offer from Hillis was one of four received.
Warren County Director of Schools Bobby Cox recommended the committee go with Hillis.
“Donald Hillis Realty and Auction was the lowest of the four bids received and that’s who I would recommend,” said Cox. “One of the bid packages called for a buyer’s premium that would add 8 to 10 percent to the bid, which I wasn’t real comfortable with. Looking at the others, we had three that were local and submitted without a buyer’s premium.”
The basic proposal submitted by Hillis was for $2,163, while the others ranged from $3,000 to $6,500. Companies were given an estimated sale price of $100,000 to generate their numbers.
Helping set the estimated sale price could have been two prior offers to purchase the property. The school was tentatively placed on the market after the new school opened three years ago, but only received a high bid of around $100,000 at that time. Recently, a written offer was received with options for $80,000 and $100,000.
Commissioner Terry Bell asked, “Bobby, are you going to have a minimum bid?”
“Yes, we will have a reserve,” said Cox. “We have to work with the auction company, and with the committee as well, to set what the reserve will be. At this time, I don’t know what it will be.”
After the meeting, Cox was asked if those offers would play a factor in setting a reserve.
“I will be meeting with Donald on Wednesday. Until then, I just don’t know,” said Cox. “Three years ago, we really didn’t put the property on the market. We asked if anyone would be interested in purchasing it and the only offer we received was close to $100,000. We felt that was too low, at that time.”
At the meeting with Cox and Bell were County Executive Herschel Wells, chairman, Commissioners Billy Earl Jones and Tommy Savage, Road Superintendent Levie Glenn, and Finance Department director Linda Hillis. Absent was Commissioner Wayne Copeland.