District offered $2 million for Schultz

The Cape Girardeau school board Monday received a $2 million offer from an out-of-town developer for the Louis J. Schultz building and surrounding property.

The bid came on the same day names recommended for the fifth-sixth-grade and seventh-eighth-grade centers were announced.

A 12-member facilities naming committee settled on Central Intermediate Center or Central Intermediate School for the fifth-sixth-grade center, Central Junior High School for the seventh-eighth-grade center and L.J. Schultz Learning Campus or L.J. Schultz Campus for the overall campus.

Superintendent Dan Steska said the school board was surprised by the developer's timing but pleased with the offer on the L.J. Schultz building, which is $1 million below the amount the building appraised at in 1997.

"We are pleased the building will be utilized," Steska said. "We're hopeful the developer, as well as the district, will be successful from the agreement."

Kerry Johnson, a Realtor for Remax Achievers in Cape Girardeau, said he could not disclose details about the developer or any plans without the developer's consent.

Steska, however, said he understands the developer wants to convert the building into offices.

The building will be closed at the end of the school year.

The developer has until March 30 to complete an engineering study to ensure the property meets safety requirements for his intended use. If the results are satisfactory, the contract would close July 31.

Want more in reserve fund

If the $2 million contract is finalized, the school board will decide how the money is spent. One option would be to put the money into the district's operating balance. Steska said the district is expected to have a reserve fund of 6 to 7 percent at the end of the year, but the ultimate goal is 12 to 15 percent.

He said the balance dropped low when the Career Technology Center cost more than originally planned and a bond issue for the new high school passed without a tax increase.

"Within four to five years we should be in a good, stable condition without a tax increase," he said.

When the purchase is complete and the L.J. Schultz name is taken off the building at 101 S. Pacific, the name could be moved to the new fifth-sixth-grade and seventh-eighth-grade campus on Caruthers if the school board approves the move Jan. 28. The junior high building will become the fifth-sixth-grade center and the high school the seventh-eighth-grade center.

The recommendations will be presented to the school board at its Jan. 28 meeting, when the board will either accept the names or choose new ones. Until then, Steska said, community members are welcome to express their opinions to him via e-mail.

The last time the board approved a new school name was for Barbara Blanchard Elementary in 1999.

"We had many suggestions on appropriate and well-deserving people in the community this time, but the committee wanted to avoid controversy by selecting any one individual," Steska said. "Since Schultz has been such a tradition in the district, they chose to keep it for the whole campus."

hkronmueller@semissourian.com

335-6611, extension 128