With not even a dozen residents in attendance, the Yucca Valley Town Council discussed options of how to use the abandoned PFF Bank building that was purchased for $1.6 million by the town’s redevelopment agency in 2009. Due to the state’s forced dissolution of the town’s redevelopment agency in 2011, the town has been unable to sell or take any other action on the building until late last year. This April, the town council hired an architectural firm to evaluate the property and determine possible uses for it. Managing editor Tami Roleff explains what the council learned, and what they decided…
The Yucca Valley Town Council learned last night that the architectural firm it hired to evaluate the PFF Bank building—on the southwest corner of Joshua Lane and Highway 62—is asking for direction on whether it should pursue ideas for private development or restrict its report to municipal use only. The council could try to sell the building for private development. However, the town would have to share the proceeds of the sale with other taxing entities—such as the school district and college—and it would only receive about 17 percent of the sales price. The council could request an analysis of how much private interest there is in the property. Or, the council could request the firm continue with its analysis of municipal uses for the building. Only three members of the public offered their opinions on how to use the building, and all requested that it be put to use to display public art. Despite being about the same size as the old library, the county library system would love to transform the building into a new county library. The council balked at paying more money for a private development study that would net the town a very small percentage of the selling price, and urged the architectural firm to continue its municipal use analysis, with the possibility of a combined municipal/private development use on the empty lot next door to the bank. The council can expect to receive a report on the building in one to two months.
YUCCA VALLEY TOWN COUNCIL PREFERS MUNICIPAL USE FOR PFF BUILDING
