Tim Ryan, tryan@wolfrivermedia.com
A blighted downtown property owned by the Samanta Roy Institute of Science and Technology is essentially worthless in its current condition, based on an appraisal presented Thursday to the Shawano Redevelopment Authority.
The RDA in April initiated proceedings that could lead to the condemnation of the long-vacant property at 214 S. Main St., along with another vacant property attached to it.
The city appraisal was the first step in trying to negotiate a sale price with SIST, which now has 60 days to respond with its own appraisal.
After that, an offer would be made to SIST for the purchase of the properties.
The matter could go to court if an agreement is not reached.
“We’re trying to negotiate in good faith,” Shawano Public Works Director Eddie Sheppard said.
According to the appraisal, the property at 214 S. Main St. would be worth $42,000 as a vacant lot.
However, demolition of the building was estimated to cost anywhere from $68,000 to $100,000, Sheppard said, which led appraisers to place the property’s value at “zero dollars.”
The much smaller and landlocked adjacent property at 216 S. Main was valued at $5,300 without the existing building on it. The cost of demolishing that building was estimated at $8,000 to $13,000.
The city conducted a court-ordered inspection of the 214 S. Main St. property last year that showed it was a health and safety hazard and was structurally unsound.
City officials have said if that property is razed, the adjacent building at 216 S. Main would have to go as well because of its shared wall.
The RDA asked SIST to provide plans for either renovation or removal of those properties but never got a response, despite several time extensions, according to city officials.
The RDA last month initiated similar action against another SIST property at 143 S. Main St.
The “resolution of necessity” allowing the city to get an appraisal of the property was amended Thursday to include the back portions of two adjacent parcels.
The back of the L-shaped building crosses onto two other SIST-owned parcels, including behind the building that houses the Hunan Chinese Restaurant at 145 S. Main St. The restaurant building is not on the blighted list.