Documents: City offered to pay three times appraised value for Duranguito properties
The City of El Paso is offering to pay nearly three times the appraised value for properties within the arena footprint, documents released by the City state.
The sale agreements for the 18 properties the City wants to purchase total approximately $11-million.
The sale price for other properties is far greater than what they were appraised for. In 2017, the CAD assigned the property at 301 West Paisano Dr. a value around $195,000. The documents state the City agreed to buy the property for more than $1.1 million.
The Chinese laundry building at 212 West Overland has an appraised value of nearly $168,000, according to the El Paso Central Appraisal District. The City entered into a contract to purchase the property for $855,000. The City also offered $19,000 relocation payment.
The contract stipulates the seller has not, nor is currently seeking any historic designation. The building is currently not subject to any demolition orders.
THE PDF FILE ATTACHED TO THIS ARTICLE INCLUDES ALL OF THE REAL ESTATE CONTRACTS.
Historians who want to preserve the building from demolition argue, that at one point, there were about 18 different Chinese laundries in the city and this is the last remaining Chinese laundry building.
The documents also shed light into the contract for the building known as the Tiradero Market. Located at 215 West Paisano, the Central Appraisal District lists the building at $820,900. Documents state the city offered $2,000,060 plus and additional $25,000 for relocation costs.
The Red Balloon Corporation building at 308 Chihuahua is appraised at $398,000. The City offered $925,000. The property is one of eight that were issued permits to proceed with demolition in August. A demolition injunction was placed on the eight back on September, 11, 2017.
El Paso Inc. Reporter Aaron Montes filed a Texas Public Information Act request for the purchase agreements on June 19, 2017. Montes said the city declined the request at the time because it was in the process of buying another property and believed the release of the purchase agreements could jeopardize plans for the multipurpose performing arts center.
“Citizens of El Paso, ought to know what a governmental body is spending on a publicly-funded project,” said Montes, “as a journalist, my only request is that documents responsive to public information be a little more readily available.”
A clause that repeatedly showed in the documents specifies the sale will close when the property is “site ready.”
Deputy City Attorney Theresa Cullen told ABC-7 that means “property owners remove the improvements, which means the building would be removed.”
Cullen said eight of the properties have “site ready” clauses. ABC-7 learned those same eight properties are listed on historian Max Grossman’s contempt of court action against the City.
