The Eugene 4J School District has found a potential buyer for a vacant bank it purchased last year that it had hoped to turn into its new headquarters.
The district bought the shuttered Wells Fargo building at Broadway and Oak in downtown Eugene on the advice of its former Superintendent Andy Dey. The school board changed course a few months later after receiving a tough revenue forecast that left the district doubtful it could afford the estimated $12 million in renovation costs.
Last week, the board moved to sell the building to Lane County for a little over $2.9 million. Eugene 4J spokesperson Kelly McIver said the vote allowed the board to declare the property surplus, and allow the superintendent to start the months-long process of selling it to the county.
"The board also went through the process to essentially, officially say we don't want this building anymore,” McIver said. “Our needs have changed, we're going to sell the building and then delegate the new superintendent to be able to complete that sale."
Lane County spokesperson Devon Ashbridge said the building could help alleviate space constraints at Lane County's aging courthouse and public service buildings. She said the county will be conducting due-diligence research on the property to determine the best use, and other details until September.
The County Commissioners will also need to approve the sale before it can move forward.
McIver said the school board has not yet determined how it will spend the proceeds from the sale, if it goes through.
The district spent an estimated $30 million in reserves to get through this school year. During the same meeting it voted to sell the Wells Fargo building, the board voted to cut nearly $21 million from next school year’s budget to address rising inflation and declining enrollment.
