It's a good price for Wrangell's future

 


Don’t think of it as selling the borough-owned former hospital building and it’s almost two acres of land for a steep discount to its appraised value. Think of it as potentially getting an immense amount of future value from an unused liability that is costing the borough about $100,000 a year to heat and insure.

When you look at the math that way, a developer’s offer to pay the borough $200,000 for the hospital property looks pretty reasonable.

Borough code allows the municipality to sell property at less than its appraised value if the sale will promote economic development in the community....



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