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Posted: 10:58 PM Jun 5, 2006
The City To Lose Millions In Kellogg Property Sale
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The City To Lose Millions In Kellogg Property Sale
June 5 — A church buys city property at a sinful price. A city investment of 10.5 million planned to be sold for $400,000.
It might be a sin... But at least it's affordable.
What was once the Church of the Magdalene is now the Holy Savior Catholic School, with just more than 100 students.
In 1999, the city purchased the church and it's adjoining classrooms to make room for the Kellogg expressway. The price 10.5 million dollars.
The church was demolished; the classrooms left vacant, and the congregation used the money to build a bigger and better church at 21st and K-96, until Holy Savior moved in and offered to pay rent.
On Tuesday, they'll get a new landlord.
Heartland Community Church is offering $400, 000 for the remaining property. Tuesday morning, the city will accept.
But wait, county records show the property is still worth 2.5 million.
Even so, Susan Schlapp, Wichita City Council, says, “people don't pay much to buy schools. It's just not a high end piece of property with a school on it.”
The city says because of its residential location, the land can't be rezoned to attract commercial retailers, and that they've been wanting to get rid of the property for a while.
So 400,000 in the city's eyes, is a decent offer. For the Heartland Community Church it’s a steal.
Representatives for the church could not be reached for comment today. But they're soon-to-be roommates at holy savior are excited.
So how does the city justify a 10 million dollars loss on the property? It's business, and sometimes to make money, or an expressway, you have to spend a little.
“Really, it wasn't a prime piece of property that was going to sell for a whole lot,” said Schlapp.
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