Cindy Archer discusses real-estate deal
Hiller should propose buying it for a $1 then. We have no proposal on the table from the city. While you
keep talking about it that does not make it happen. Also, Hiller’s original rent rate was far lower than
what he included in the RFP. I suspect because he took the triple net lease provision out. He should
look at how much cushion he has in his current $12.44 rate and use that cushion to buy city campus for
say $300,000. Given it looks like he has wiggle room in his rate, he would probably make the the$300k
back in five years. He could give it to the City and take a write off.
You need to quit talking about selling it the City because it is not a reality.
The three vendors have been told to come back with a final and best offer by Wednesday. They have
been told that we will not consider any option that does not include buying City campus. The rubber is
meeting the road on this issue. If you can help Hiller, now is the time.
You also need to consider what is doable with the County Board. I doubt they will agree to give it away or
sell it for $1.
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